Benjamin J. Hindson Sells 7,485 Shares of 10x Genomics, Inc. (NASDAQ:TXG) Stock

10x Genomics, Inc. (NASDAQ:TXG - Get Free Report) insider Benjamin J. Hindson sold 7,485 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $8.30, for a total value of $62,125.50. Following the transaction, the insider now owns 448,374 shares in the company, valued at approximately $3,721,504.20. The trade was a 1.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

10x Genomics Stock Up 1.6%

Shares of NASDAQ:TXG traded up $0.15 during trading on Friday, hitting $9.49. The stock had a trading volume of 4,649,181 shares, compared to its average volume of 2,417,694. The company has a market capitalization of $1.17 billion, a PE ratio of -6.24 and a beta of 1.94. The firm's fifty day moving average is $8.47 and its 200 day moving average is $11.88. 10x Genomics, Inc. has a 12 month low of $6.78 and a 12 month high of $24.76.

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, topping 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 period in the previous year, the firm posted ($0.50) EPS. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. Equities research analysts expect that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Stifel Nicolaus lowered their price target on shares of 10x Genomics from $21.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, February 13th. UBS Group lowered their price objective on shares of 10x Genomics from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Stephens reiterated an "overweight" rating and set a $14.00 target price on shares of 10x Genomics in a report on Thursday, May 15th. Citigroup cut their target price on 10x Genomics from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. lowered their price target on 10x Genomics from $12.00 to $9.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $15.81.

Hedge Funds Weigh In On 10x Genomics

A number of hedge funds have recently bought and sold shares of the company. Barclays PLC increased its stake in 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 purchasing an additional 63,079 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of 10x Genomics during the fourth quarter valued at approximately $237,000. SG Americas Securities LLC increased its position in shares of 10x Genomics by 209.8% during the fourth quarter. SG Americas Securities LLC now owns 73,046 shares of the company's stock valued at $1,049,000 after acquiring an additional 49,468 shares in the last quarter. Blue Trust Inc. raised its holdings in 10x Genomics by 73.1% in the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company's stock worth $44,000 after acquiring an additional 1,299 shares during the last quarter. Finally, KBC Group NV raised its holdings in 10x Genomics by 57.3% in the 4th quarter. KBC Group NV now owns 5,072 shares of the company's stock worth $73,000 after acquiring an additional 1,847 shares during the last quarter. Institutional investors own 84.68% of the company's stock.

About 10x Genomics

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.