Insider Selling: 10x Genomics, Inc. (NASDAQ:TXG) CFO Sells 4,044 Shares of Stock

10x Genomics, Inc. (NASDAQ:TXG) CFO Adam Taich sold 4,044 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $33,565.20. Following the completion of the transaction, the chief financial officer now owns 331,588 shares in the company, valued at $2,752,180.40. This represents a 1.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

10x Genomics Price Performance

TXG stock traded up $0.42 during trading hours on Tuesday, reaching $8.59. The stock had a trading volume of 2,653,754 shares, compared to its average volume of 2,390,875. The stock has a 50-day simple moving average of $8.54 and a 200 day simple moving average of $11.97. The stock has a market capitalization of $1.06 billion, a PE ratio of -5.65 and a beta of 1.94. 10x Genomics, Inc. has a fifty-two week low of $6.78 and a fifty-two week high of $24.76.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.09. The company had revenue of $154.88 million during the quarter, compared to analysts’ expectations of $131.91 million. 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. 10x Genomics’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.50) EPS. On average, sell-side analysts forecast that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

Institutional Trading of 10x Genomics

A number of hedge funds have recently modified their holdings of the stock. Atria Wealth Solutions Inc. lifted its stake in shares of 10x Genomics by 9.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 10,788 shares of the company’s stock worth $155,000 after buying an additional 943 shares during the last quarter. Blue Trust Inc. boosted its holdings in 10x Genomics by 73.1% in the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock valued at $44,000 after purchasing an additional 1,299 shares during the period. Signaturefd LLC boosted its holdings in 10x Genomics by 424.6% in the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock valued at $26,000 after purchasing an additional 1,452 shares during the period. GAMMA Investing LLC boosted its holdings in 10x Genomics by 81.8% in the 1st quarter. GAMMA Investing LLC now owns 3,586 shares of the company’s stock valued at $31,000 after purchasing an additional 1,614 shares during the period. Finally, Xponance Inc. increased its holdings in 10x Genomics by 17.4% in the 1st quarter. Xponance Inc. now owns 12,010 shares of the company’s stock valued at $105,000 after buying an additional 1,778 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TXG shares. Leerink Partners lowered shares of 10x Genomics from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $25.00 to $12.00 in a report on Thursday, February 13th. Stephens restated an “overweight” rating and issued a $14.00 price objective on shares of 10x Genomics in a report on Thursday, May 15th. Barclays lowered their target price on shares of 10x Genomics from $15.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Morgan Stanley lowered their target price on shares of 10x Genomics from $26.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, May 19th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a research report on Saturday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.81.

About 10x Genomics

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.