10x Genomics, Inc. (NASDAQ:TXG) CFO Adam Taich Sells 4,044 Shares

10x Genomics, Inc. (NASDAQ:TXG - Get Free Report) CFO Adam Taich sold 4,044 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total value of $33,565.20. Following the sale, the chief financial officer now owns 331,588 shares of the company's stock, valued at approximately $2,752,180.40. This represents a 1.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

10x Genomics Stock Up 1.6%

TXG stock traded up $0.15 during midday trading on Friday, hitting $9.49. The company's stock had a trading volume of 4,649,181 shares, compared to its average volume of 2,422,342. The stock's 50-day moving average price is $8.46 and its 200 day moving average price is $11.84. 10x Genomics, Inc. has a 1 year low of $6.78 and a 1 year high of $24.76. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -6.24 and a beta of 1.94.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) EPS for the quarter, beating analysts' consensus estimates of ($0.45) by $0.09. 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. The firm had revenue of $154.88 million for the quarter, compared to analysts' expectations of $131.91 million. During the same quarter in the prior year, the firm earned ($0.50) EPS. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities analysts forecast that 10x Genomics, Inc. will post -1.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TXG. Barclays PLC lifted its position in shares of 10x Genomics by 11.7% during the 3rd quarter. Barclays PLC now owns 602,536 shares of the company's stock valued at $13,605,000 after buying an additional 63,079 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of 10x Genomics during the 4th quarter valued at $237,000. SG Americas Securities LLC lifted its position in shares of 10x Genomics by 209.8% during the 4th quarter. SG Americas Securities LLC now owns 73,046 shares of the company's stock valued at $1,049,000 after buying an additional 49,468 shares during the last quarter. Blue Trust Inc. lifted its position in shares of 10x Genomics by 73.1% during the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company's stock valued at $44,000 after buying an additional 1,299 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of 10x Genomics by 57.3% during the 4th quarter. KBC Group NV now owns 5,072 shares of the company's stock valued at $73,000 after buying an additional 1,847 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

Wall Street Analyst Weigh In

TXG has been the subject of several recent research reports. Citigroup decreased their price objective on 10x Genomics from $20.00 to $15.00 and set a "buy" rating for the company in a report on Tuesday, March 4th. Morgan Stanley cut their target price on 10x Genomics from $26.00 to $18.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. JPMorgan Chase & Co. cut their target price on 10x Genomics from $12.00 to $9.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Wall Street Zen raised 10x Genomics from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Stifel Nicolaus cut their target price on 10x Genomics from $21.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $15.81.

10x Genomics Company Profile

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.