10x Genomics (NASDAQ:TXG) CFO Sells $368,995.12 in Stock

by · The Cerbat Gem

10x Genomics (NASDAQ:TXG – Get Free Report) CFO Adam Taich sold 15,098 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $24.44, for a total transaction of $368,995.12. Following the sale, the chief financial officer directly owned 379,898 shares in the company, valued at $9,284,707.12. This represents a 3.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

10x Genomics Stock Performance

TXG stock opened at $28.31 on Friday. The company’s 50 day moving average price is $22.45 and its 200 day moving average price is $20.03. 10x Genomics has a fifty-two week low of $8.81 and a fifty-two week high of $28.86. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of -166.53 and a beta of 2.05.

10x Genomics (NASDAQ:TXG – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.19. The firm had revenue of $150.84 million for 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%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.28) earnings per share. Equities analysts forecast that 10x Genomics will post -0.82 EPS for the current fiscal year.

Institutional Investors Weigh In On 10x Genomics

Several large investors have recently modified their holdings of TXG. Geneos Wealth Management Inc. acquired a new stake in shares of 10x Genomics in the fourth quarter valued at approximately $38,000. Larson Financial Group LLC boosted its holdings in shares of 10x Genomics by 164.4% in the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after acquiring an additional 1,470 shares during the period. Fifth Third Bancorp acquired a new stake in shares of 10x Genomics in the first quarter valued at approximately $50,000. Abich Financial Wealth Management LLC acquired a new stake in shares of 10x Genomics in the third quarter valued at approximately $56,000. Finally, Van ECK Associates Corp lifted its holdings 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 worth $60,000 after purchasing an additional 1,695 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TXG has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price target on shares of 10x Genomics from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. TD Cowen increased their price target on shares of 10x Genomics from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Friday, February 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 10x Genomics in a research note on Friday, March 27th. Bank of America increased their price target on shares of 10x Genomics from $21.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, April 20th. Finally, Barclays increased their price objective on 10x Genomics from $22.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, April 14th. Four research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $23.17.

View Our Latest Analysis on TXG

10x Genomics Company Profile

(Get Free Report)

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.

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