Insider Selling: 10x Genomics (NASDAQ:TXG) CFO Sells $2,995,273.16 in Stock

10x Genomics (NASDAQ:TXG) CFO Adam Taich sold 46,388 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $64.57, for a total transaction of $2,995,273.16. Following the sale, the chief financial officer owned 316,344 shares of the company’s stock, valued at approximately $20,426,332.08. This represents a 12.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Adam Taich also recently made the following trade(s):

• On Monday, August 24th, Adam Taich sold 17,166 shares of 10x Genomics stock. The shares were sold at an average price of $63.02, for a total transaction of $1,081,801.32.

10x Genomics Price Performance

10x Genomics stock traded up $2.24 during trading hours on Friday, hitting $68.62. The company had a trading volume of 1,826,887 shares, compared to its average volume of 2,852,364. The firm has a market cap of $8.94 billion, a PE ratio of -116.30 and a beta of 2.08. 10x Genomics has a one year low of $11.16 and a one year high of $69.67. The firm has a 50-day moving average of $53.09 and a 200 day moving average of $34.76.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.10. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The firm had revenue of $151.04 million during the quarter, compared to the consensus estimate of $146.67 million. During the same period last year, the business posted $0.28 earnings per share. The business’s revenue for the quarter was down 12.7% compared to the same quarter last year. As a group, research analysts expect that 10x Genomics will post -0.75 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TXG. UBS Group assumed coverage on 10x Genomics in a research note on Wednesday. They issued a “neutral” rating and a $68.00 price target for the company. Zacks Research cut 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Citigroup lifted their target price on 10x Genomics from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. TD Cowen reissued a “hold” rating on shares of 10x Genomics in a research report on Wednesday, July 15th. Finally, Morgan Stanley upped their price target on shares of 10x Genomics from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Five research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $44.00.

Hedge Funds Weigh In On 10x Genomics

Hedge funds have recently added to or reduced their stakes in the stock. ARK Investment Management LLC grew its holdings in shares of 10x Genomics by 6.6% during the 4th quarter. ARK Investment Management LLC now owns 12,667,369 shares of the company’s stock worth $206,605,000 after purchasing an additional 779,973 shares in the last quarter. Amova Asset Management Americas Inc. raised its stake in 10x Genomics by 2.0% in the fourth quarter. Amova Asset Management Americas Inc. now owns 5,486,153 shares of the company’s stock valued at $89,424,000 after purchasing an additional 109,270 shares in the last quarter. Millennium Management LLC raised its stake in 10x Genomics by 84.7% in the third quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock valued at $63,570,000 after purchasing an additional 2,494,142 shares in the last quarter. Quantinno Capital Management LP lifted its position in 10x Genomics by 16.0% during the first quarter. Quantinno Capital Management LP now owns 5,411,761 shares of the company’s stock worth $114,892,000 after purchasing an additional 744,558 shares during the period. Finally, California State Teachers Retirement System lifted its position in 10x Genomics by 3,700.4% during the second quarter. California State Teachers Retirement System now owns 4,679,895 shares of the company’s stock worth $179,427,000 after purchasing an additional 4,556,753 shares during the period. Institutional investors own 84.68% of the company’s stock.

10x Genomics Company Profile

10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.

The company’s product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.