Adam Taich Sells 4,044 Shares of 10x Genomics, Inc. (NASDAQ:TXG) Stock

10x Genomics, Inc. (NASDAQ:TXG) CFO Adam Taich sold 4,044 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total value of $33,565.20. Following the sale, the chief financial officer now owns 331,588 shares in the company, valued at approximately $2,752,180.40. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

10x Genomics Stock Up 3.1%

Shares of NASDAQ TXG opened at $8.86 on Thursday. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -5.83 and a beta of 1.94. The stock’s fifty day simple moving average is $8.49 and its 200 day simple moving average is $11.93. 10x Genomics, Inc. has a 52-week low of $6.78 and a 52-week high of $24.76.

10x Genomics (NASDAQ:TXG) last issued 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 business had revenue of $154.88 million for the quarter, compared to analysts’ expectations of $131.91 million. 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.50) EPS. As a group, analysts anticipate that 10x Genomics, Inc. will post -1.43 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its holdings in shares of 10x Genomics by 0.6% during the fourth quarter. FMR LLC now owns 13,454,434 shares of the company’s stock valued at $193,206,000 after buying an additional 86,455 shares in the last quarter. ARK Investment Management LLC grew its holdings in shares of 10x Genomics by 7.5% during the first quarter. ARK Investment Management LLC now owns 12,845,713 shares of the company’s stock valued at $112,143,000 after buying an additional 901,656 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of 10x Genomics by 1.7% during the first quarter. Vanguard Group Inc. now owns 11,118,086 shares of the company’s stock valued at $97,061,000 after buying an additional 184,537 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of 10x Genomics by 235.6% during the first 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 in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of 10x Genomics by 434.5% during the first quarter. Millennium Management LLC now owns 5,377,492 shares of the company’s stock valued at $46,946,000 after buying an additional 4,371,327 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TXG shares. The Goldman Sachs Group reduced their price objective on 10x Genomics from $7.50 to $6.50 and set a “sell” rating on the stock in a research report on Monday, May 12th. JPMorgan Chase & Co. reduced their price objective on 10x Genomics from $12.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, May 9th. UBS Group reduced their price objective on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Morgan Stanley reduced their target price on 10x Genomics from $26.00 to $18.00 and set an “overweight” rating on the stock in a research report on Monday, May 19th. Finally, Leerink Partnrs downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, 10x Genomics currently has an average rating of “Hold” and a consensus target price of $15.81.

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.