10x Genomics, Inc. (NASDAQ:TXG) Insider Sells $99,314.10 in Stock

10x Genomics, Inc. (NASDAQ:TXG) insider Benjamin J. Hindson sold 4,087 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total transaction of $99,314.10. Following the sale, the insider now directly owns 350,055 shares of the company’s stock, valued at approximately $8,506,336.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

10x Genomics Stock Performance

10x Genomics stock opened at $22.59 on Friday. The firm has a 50 day moving average price of $30.74 and a two-hundred day moving average price of $40.77. 10x Genomics, Inc. has a 52-week low of $22.50 and a 52-week high of $63.57. The firm has a market cap of $2.69 billion, a price-to-earnings ratio of -10.13 and a beta of 1.94.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results 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 return on equity of 30.85% and a negative net margin of 42.20%. The firm had revenue of $141.01 million during the quarter, compared to the consensus estimate of $142.24 million. During the same period last year, the business posted ($0.44) EPS. The business’s revenue was up 5.0% compared to the same quarter last year. As a group, equities research analysts predict that 10x Genomics, Inc. will post -1.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. UBS Group lowered their price objective on shares of 10x Genomics from $52.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Stifel Nicolaus lowered their target price on 10x Genomics from $63.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. 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 note on Monday, April 29th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of 10x Genomics from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, The Goldman Sachs Group decreased their target price on shares of 10x Genomics from $30.00 to $26.00 and set a “sell” rating on the stock in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $48.50.

Institutional Trading of 10x Genomics

Several hedge funds have recently modified their holdings of TXG. Allspring Global Investments Holdings LLC increased its stake in 10x Genomics by 113.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after buying an additional 371 shares during the last quarter. Covestor Ltd increased its holdings in 10x Genomics by 501.7% during the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after buying an additional 873 shares during the last quarter. UMB Bank n.a. raised its position in 10x Genomics by 51.6% in the fourth quarter. UMB Bank n.a. now owns 782 shares of the company’s stock worth $44,000 after acquiring an additional 266 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of 10x Genomics during the 4th quarter valued at approximately $66,000. Finally, Headlands Technologies LLC bought a new position in shares of 10x Genomics during the 1st quarter worth $71,000. Institutional investors 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.