10x Genomics, Inc. (NASDAQ:TXG) CFO Justin J. Mcanear Sells 2,936 Shares

10x Genomics, Inc. (NASDAQ:TXG) CFO Justin J. Mcanear sold 2,936 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total transaction of $71,344.80. Following the completion of the sale, the chief financial officer now directly owns 146,203 shares of the company’s stock, valued at approximately $3,552,732.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

10x Genomics Price Performance

Shares of NASDAQ TXG traded down $0.28 during midday trading on Friday, hitting $22.67. 84,414 shares of the company’s stock were exchanged, compared to its average volume of 1,551,666. The firm’s fifty day simple moving average is $31.01 and its 200-day simple moving average is $40.88. The company has a market cap of $2.70 billion, a PE ratio of -10.29 and a beta of 1.94. 10x Genomics, Inc. has a twelve month low of $22.55 and a twelve month high of $63.57.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.50) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.50). 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The company had revenue of $141.01 million for the quarter, compared to analysts’ expectations of $142.24 million. During the same quarter last year, the company earned ($0.44) earnings per share. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities analysts anticipate that 10x Genomics, Inc. will post -1.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TXG shares. Canaccord Genuity Group reduced their price target on shares of 10x Genomics from $65.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Stifel Nicolaus lowered their price target on 10x Genomics from $63.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Bank of America reduced their price objective on shares of 10x Genomics from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. TD Cowen cut shares of 10x Genomics from a “buy” rating to a “hold” rating and dropped their price target for the company from $57.00 to $32.00 in a research report on Wednesday, May 1st. Finally, Barclays decreased their price objective on shares of 10x Genomics from $55.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $48.50.

Hedge Funds Weigh In On 10x Genomics

Large investors have recently bought and sold shares of the stock. SVB Wealth LLC lifted its holdings in shares of 10x Genomics by 92.1% in the 4th quarter. SVB Wealth LLC now owns 1,446,552 shares of the company’s stock valued at $80,949,000 after purchasing an additional 693,422 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in 10x Genomics by 32.9% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,283,530 shares of the company’s stock worth $127,786,000 after buying an additional 565,059 shares during the period. Bleakley Financial Group LLC purchased a new stake in 10x Genomics in the fourth quarter valued at approximately $234,000. ARK Investment Management LLC boosted its holdings in shares of 10x Genomics by 35.0% in the fourth quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock valued at $226,150,000 after acquiring an additional 1,047,827 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of 10x Genomics by 4.2% during the third quarter. Vanguard Group Inc. now owns 8,903,517 shares of the company’s stock worth $367,270,000 after acquiring an additional 354,921 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

10x Genomics Company Profile

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.