Insider Selling: 10x Genomics, Inc. (NASDAQ:TXG) Insider Sells $50,623.11 in Stock

10x Genomics, Inc. (NASDAQ:TXG) insider Benjamin J. Hindson sold 4,573 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $50,623.11. Following the sale, the insider now directly owns 335,324 shares of the company’s stock, valued at $3,712,036.68. This represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

10x Genomics Price Performance

Shares of NASDAQ TXG opened at $10.69 on Friday. 10x Genomics, Inc. has a one year low of $10.40 and a one year high of $48.42. The business’s fifty day moving average price is $14.00 and its 200-day moving average price is $16.81. The stock has a market capitalization of $1.31 billion, a PE ratio of -7.03 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. As a group, equities analysts expect that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on TXG. UBS Group lowered their target price on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a research report on Wednesday, February 19th. Canaccord Genuity Group reduced their price target on 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Leerink Partners downgraded 10x Genomics from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $25.00 to $12.00 in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. cut their price objective on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, 10x Genomics has an average rating of “Hold” and an average target price of $20.57.

Hedge Funds Weigh In On 10x Genomics

Institutional investors have recently modified their holdings of the company. Creative Planning purchased a new stake in 10x Genomics during the 3rd quarter valued at about $214,000. Blue Trust Inc. boosted 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 valued at $40,000 after purchasing an additional 1,025 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of 10x Genomics by 2,280.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 38,963 shares of the company’s stock valued at $880,000 after purchasing an additional 37,326 shares in the last quarter. International Assets Investment Management LLC bought a new stake in 10x Genomics in the third quarter worth $438,000. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in 10x Genomics by 84.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 23,952 shares of the company’s stock worth $541,000 after acquiring an additional 10,935 shares in the last quarter. 84.68% of the stock is currently owned by 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.