10x Genomics (NASDAQ:TXG) CFO Adam Taich Sells 15,098 Shares of Stock

10x Genomics (NASDAQ:TXG) CFO Adam Taich sold 15,098 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $24.44, for a total value of $368,995.12. Following the transaction, the chief financial officer owned 379,898 shares in the company, valued at approximately $9,284,707.12. This trade represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

10x Genomics Stock Up 3.6%

NASDAQ:TXG opened at $25.51 on Thursday. 10x Genomics has a 12 month low of $8.41 and a 12 month high of $26.44. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of -150.06 and a beta of 2.05. The company’s 50 day moving average is $22.03 and its 200-day moving average is $19.89.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.19. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The company had revenue of $150.84 million for the quarter, compared to analyst estimates of $146.41 million. During the same quarter last year, the firm posted ($0.28) earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Research analysts predict that 10x Genomics will post -0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Intech Investment Management LLC lifted its holdings in shares of 10x Genomics by 1.4% during the fourth quarter. Intech Investment Management LLC now owns 40,047 shares of the company’s stock worth $653,000 after buying an additional 567 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of 10x Genomics by 3.0% during the third quarter. Arizona State Retirement System now owns 29,586 shares of the company’s stock worth $346,000 after buying an additional 872 shares during the last quarter. Certuity LLC lifted its holdings in shares of 10x Genomics by 4.7% during the fourth quarter. Certuity LLC now owns 20,204 shares of the company’s stock worth $330,000 after buying an additional 904 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in shares of 10x Genomics by 7.3% in the 4th quarter. Stratos Wealth Partners LTD. now owns 14,052 shares of the company’s stock worth $229,000 after acquiring an additional 950 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of 10x Genomics by 16.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,186 shares of the company’s stock worth $153,000 after acquiring an additional 1,012 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TXG shares. Barclays lifted their price target on shares of 10x Genomics from $22.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, April 14th. Stifel Nicolaus lifted their price target on shares of 10x Genomics from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. JPMorgan Chase & Co. lifted their price target on shares of 10x Genomics from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Citigroup lifted their price target on shares of 10x Genomics from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, April 7th. Finally, Zacks Research lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, 10x Genomics currently has an average rating of “Hold” and a consensus price target of $23.17.

About 10x Genomics

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.