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 stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $368,995.12. Following the completion of the sale, the chief financial officer directly owned 379,898 shares in the company, valued at approximately $9,284,707.12. This represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

10x Genomics Stock Performance

Shares of NASDAQ:TXG traded up $0.89 during trading hours on Wednesday, reaching $25.51. The stock had a trading volume of 3,568,979 shares, compared to its average volume of 2,644,869. 10x Genomics has a 1 year low of $8.41 and a 1 year high of $26.44. The firm’s 50 day moving average is $21.85 and its 200-day moving average is $19.80. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of -150.06 and a beta of 2.05.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data 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 the consensus estimate of $146.41 million. During the same period in the prior year, the firm posted ($0.28) EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Analysts forecast that 10x Genomics will post -0.82 EPS for the current year.

Institutional Trading of 10x Genomics

Large investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. acquired a new stake in 10x Genomics during the 4th quarter worth $38,000. Larson Financial Group LLC boosted its stake in 10x Genomics by 164.4% during the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock worth $39,000 after purchasing an additional 1,470 shares during the period. Fifth Third Bancorp acquired a new stake in shares of 10x Genomics in the 1st quarter worth $50,000. Van ECK Associates Corp lifted its stake in shares of 10x Genomics by 85.9% in the 4th quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock worth $60,000 after acquiring an additional 1,695 shares during the period. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of 10x Genomics in the 3rd quarter worth $56,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. UBS Group increased their price objective on shares of 10x Genomics from $14.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Bank of America increased their price objective on shares of 10x Genomics from $21.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, April 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 10x Genomics in a research report on Friday, March 27th. Leerink Partners dropped their target price on shares of 10x Genomics from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Tuesday, January 27th. Finally, Zacks Research downgraded shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, 10x Genomics has an average rating of “Hold” and an average target price of $23.17.

10x Genomics Company Profile

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.