Insider Selling: 10x Genomics, Inc. (NASDAQ:TXG) Insider Sells 4,573 Shares of Stock

10x Genomics, Inc. (NASDAQ:TXG) insider Benjamin J. Hindson sold 4,573 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $50,623.11. Following the completion of the transaction, the insider now directly owns 335,324 shares of the company’s stock, valued at approximately $3,712,036.68. The trade was a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

10x Genomics Stock Performance

Shares of 10x Genomics stock opened at $11.65 on Thursday. 10x Genomics, Inc. has a fifty-two week low of $10.63 and a fifty-two week high of $48.42. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -7.66 and a beta of 1.85. The stock has a 50 day moving average of $14.13 and a 200 day moving average of $16.92.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. Analysts forecast that 10x Genomics, Inc. will post -1.43 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Morgan Stanley cut their price objective on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a research report on Wednesday, February 19th. Leerink Partners downgraded 10x Genomics from an “outperform” rating to a “market perform” rating and cut their price target for the company from $25.00 to $12.00 in a research note on Thursday, February 13th. UBS Group decreased their price target on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group reduced their price objective on 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.57.

Institutional Investors Weigh In On 10x Genomics

Large investors have recently modified their holdings of the company. Creative Planning acquired a new position in 10x Genomics in the third quarter valued at $214,000. Blue Trust Inc. grew its position in shares of 10x Genomics by 136.5% during the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after acquiring an additional 1,025 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of 10x Genomics by 2,280.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 38,963 shares of the company’s stock valued at $880,000 after acquiring an additional 37,326 shares during the period. International Assets Investment Management LLC acquired a new stake in 10x Genomics during the 3rd quarter worth $438,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of 10x Genomics by 84.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 23,952 shares of the company’s stock valued at $541,000 after buying an additional 10,935 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.