10x Genomics (NASDAQ:TXG) Insider Benjamin Hindson Sells 7,826 Shares

10x Genomics (NASDAQ:TXG) insider Benjamin Hindson sold 7,826 shares of 10x Genomics stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $18.58, for a total value of $145,407.08. Following the transaction, the insider owned 424,779 shares in the company, valued at approximately $7,892,393.82. This represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

10x Genomics Price Performance

Shares of 10x Genomics stock traded up $0.33 during trading hours on Thursday, hitting $19.99. The company’s stock had a trading volume of 508,366 shares, compared to its average volume of 2,704,306. 10x Genomics has a 12 month low of $6.78 and a 12 month high of $23.56. The company has a market capitalization of $2.55 billion, a PE ratio of -57.18 and a beta of 2.24. The stock has a 50 day moving average of $19.07 and a 200 day moving average of $15.94.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.06. The business had revenue of $166.03 million during the quarter, compared to analysts’ expectations of $160.35 million. 10x Genomics had a negative return on equity of 6.89% and a negative net margin of 6.77%.10x Genomics’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.40) EPS. Equities analysts expect that 10x Genomics will post -1.43 EPS for the current year.

Hedge Funds Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Allworth Financial LP increased its holdings in 10x Genomics by 150.4% during the second quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock worth $26,000 after buying an additional 1,364 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in shares of 10x Genomics in the 4th quarter valued at about $38,000. Larson Financial Group LLC increased its stake in shares of 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 last quarter. True Wealth Design LLC raised its holdings in shares of 10x Genomics by 1,552.5% in the 2nd quarter. True Wealth Design LLC now owns 3,586 shares of the company’s stock valued at $42,000 after purchasing an additional 3,369 shares during the period. Finally, Abich Financial Wealth Management LLC acquired a new stake in 10x Genomics in the 3rd quarter valued at about $56,000. 84.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TXG has been the topic of several research reports. Piper Sandler boosted their price objective on shares of 10x Genomics from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, November 11th. Morgan Stanley reissued an “equal weight” rating and issued a $20.00 price target (up from $17.00) on shares of 10x Genomics in a research note on Monday, December 1st. Leerink Partners reduced their price objective on 10x Genomics from $22.00 to $20.00 and set a “market perform” rating for the company in a research report on Tuesday, January 27th. Zacks Research downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Finally, Stifel Nicolaus boosted their target price on 10x Genomics from $15.00 to $20.00 and gave the company a “buy” rating in a research note on Friday, February 13th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $18.11.

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.