Insider Selling: 10x Genomics (NASDAQ:TXG) CFO Sells $2,995,273.16 in Stock

10x Genomics (NASDAQ:TXG) CFO Adam Taich sold 46,388 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $64.57, for a total transaction of $2,995,273.16. Following the sale, the chief financial officer directly owned 316,344 shares of the company’s stock, valued at approximately $20,426,332.08. This trade represents a 12.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Adam Taich also recently made the following trade(s):

• On Monday, August 24th, Adam Taich sold 17,166 shares of 10x Genomics stock. The stock was sold at an average price of $63.02, for a total transaction of $1,081,801.32.

10x Genomics Price Performance

TXG traded up $2.24 during trading on Friday, hitting $68.62. 1,826,887 shares of the stock traded hands, compared to its average volume of 2,852,364. 10x Genomics has a twelve month low of $11.16 and a twelve month high of $69.67. The company has a market cap of $8.94 billion, a price-to-earnings ratio of -116.30 and a beta of 2.08. The business has a 50 day moving average price of $53.09 and a 200 day moving average price of $34.76.

10x Genomics (NASDAQ:TXG) last released its earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.10. The firm had revenue of $151.04 million during the quarter, compared to analysts’ expectations of $146.67 million. 10x Genomics had a negative return on equity of 9.33% and a negative net margin of 12.18%.The company’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 earnings per share. On average, equities research analysts predict that 10x Genomics will post -0.75 earnings per share for the current year.

Institutional Investors Weigh In On 10x Genomics

A number of hedge funds and other institutional investors have recently bought and sold shares of TXG. Sei Investments Co. raised its position in shares of 10x Genomics by 113.5% during the first quarter. Sei Investments Co. now owns 44,679 shares of the company’s stock worth $949,000 after acquiring an additional 23,748 shares during the last quarter. Simplify Asset Management Inc. bought a new stake in 10x Genomics in the fourth quarter valued at approximately $7,926,000. Hsbc Holdings PLC acquired a new position in shares of 10x Genomics in the 1st quarter worth approximately $5,945,000. Clough Capital Partners L P bought a new stake in shares of 10x Genomics in the 4th quarter valued at $9,955,000. Finally, Cookson Peirce & Co. Inc. bought a new stake in shares of 10x Genomics in the 4th quarter valued at $571,000. Institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

TXG has been the topic of several research analyst reports. Stifel Nicolaus set a $50.00 price objective on 10x Genomics in a research note on Friday, August 7th. UBS Group started coverage on 10x Genomics in a research note on Wednesday. They set a “neutral” rating and a $68.00 target price for the company. Piper Sandler increased their target price on shares of 10x Genomics from $42.00 to $47.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Zacks Research downgraded shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Royal Bank Of Canada started coverage on shares of 10x Genomics in a report on Tuesday, September 1st. They set a “sector perform” rating and a $70.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $44.00.

10x Genomics Company Profile

10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.

The company’s product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.