Benjamin J. Hindson Sells 7,485 Shares of 10x Genomics, Inc. (NASDAQ:TXG) Stock

10x Genomics, Inc. (NASDAQ:TXG) insider Benjamin J. Hindson sold 7,485 shares of 10x Genomics stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total value of $62,125.50. Following the completion of the transaction, the insider now owns 448,374 shares in the company, valued at $3,721,504.20. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

10x Genomics Trading Up 5.1%

Shares of NASDAQ TXG opened at $8.59 on Wednesday. 10x Genomics, Inc. has a 1 year low of $6.78 and a 1 year high of $24.76. The firm’s 50-day moving average is $8.52 and its 200-day moving average is $11.95. The firm has a market capitalization of $1.06 billion, a PE ratio of -5.65 and a beta of 1.94.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Thursday, May 8th. The company reported ($0.36) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.09. 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. The company had revenue of $154.88 million during the quarter, compared to analysts’ expectations of $131.91 million. During the same quarter in the previous year, the company posted ($0.50) EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities research analysts anticipate that 10x Genomics, Inc. will post -1.43 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TXG. Leerink Partners lowered 10x Genomics from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $25.00 to $12.00 in a report on Thursday, February 13th. The Goldman Sachs Group reduced their price target on shares of 10x Genomics from $7.50 to $6.50 and set a “sell” rating for the company in a report on Monday, May 12th. UBS Group decreased their price target on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Citigroup decreased their target price on 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus cut their price target on 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.81.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in 10x Genomics by 235.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,103,768 shares of the company’s stock valued at $62,016,000 after buying an additional 4,987,195 shares during the last quarter. Millennium Management LLC grew its stake in 10x Genomics by 434.5% in the first quarter. Millennium Management LLC now owns 5,377,492 shares of the company’s stock valued at $46,946,000 after purchasing an additional 4,371,327 shares in the last quarter. RA Capital Management L.P. bought a new stake in 10x Genomics during the fourth quarter worth $47,092,000. D. E. Shaw & Co. Inc. acquired a new stake in 10x Genomics in the fourth quarter valued at $17,499,000. Finally, ARK Investment Management LLC grew its position in shares of 10x Genomics by 11.1% in the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock valued at $171,517,000 after acquiring an additional 1,193,712 shares during the period. 84.68% of the stock is currently owned by institutional investors.

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.