Insider Selling: 10x Genomics (NASDAQ:TXG) Insider Sells $283,381.80 in Stock

10x Genomics (NASDAQ:TXG) insider Benjamin Hindson sold 11,595 shares of 10x Genomics stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total transaction of $283,381.80. Following the completion of the sale, the insider directly owned 502,000 shares of the company’s stock, valued at approximately $12,268,880. The trade was a 2.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

10x Genomics Trading Up 1.1%

TXG stock opened at $28.31 on Friday. 10x Genomics has a 1 year low of $8.81 and a 1 year high of $28.86. The company has a fifty day simple moving average of $22.45 and a 200 day simple moving average of $20.03. The firm has a market cap of $3.59 billion, a PE ratio of -166.53 and a beta of 2.05.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.19. The business had revenue of $150.84 million during the quarter, compared to analyst estimates of $146.41 million. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. 10x Genomics’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.28) EPS. As a group, analysts forecast that 10x Genomics will post -0.82 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on TXG shares. JPMorgan Chase & Co. lifted their price objective on 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. TD Cowen boosted their price objective on 10x Genomics from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, February 13th. Bank of America boosted their price objective on 10x Genomics from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. William Blair raised 10x Genomics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 31st. Finally, UBS Group boosted their price objective on 10x Genomics from $14.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $23.17.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. acquired a new position in shares of 10x Genomics during the fourth quarter valued at about $38,000. Larson Financial Group LLC raised its position in shares of 10x Genomics by 164.4% during the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after buying an additional 1,470 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of 10x Genomics during the first quarter valued at about $50,000. Abich Financial Wealth Management LLC acquired a new position in shares of 10x Genomics during the third quarter valued at about $56,000. Finally, Van ECK Associates Corp raised its position in shares of 10x Genomics by 85.9% during the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock valued at $60,000 after buying an additional 1,695 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

About 10x Genomics

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.