Benjamin J. Hindson Sells 4,573 Shares of 10x Genomics, Inc. (NASDAQ:TXG) Stock

10x Genomics, Inc. (NASDAQ:TXG) insider Benjamin J. Hindson sold 4,573 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were 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 owns 335,324 shares of the company’s stock, valued at $3,712,036.68. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

10x Genomics Trading Down 7.5 %

Shares of TXG stock opened at $10.78 on Friday. 10x Genomics, Inc. has a 1-year low of $10.63 and a 1-year high of $48.42. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -7.09 and a beta of 1.85. The stock has a 50-day moving average of $14.07 and a 200-day moving average of $16.87.

10x Genomics (NASDAQ:TXG) last released its earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share 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%. Sell-side analysts forecast that 10x Genomics, Inc. will post -1.43 earnings per share for the current year.

Institutional Investors Weigh In On 10x Genomics

Several large investors have recently modified their holdings of TXG. Signaturefd LLC lifted its holdings in 10x Genomics by 424.6% in the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock valued at $26,000 after buying an additional 1,452 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of 10x Genomics in the 4th quarter worth about $32,000. Capital Performance Advisors LLP acquired a new position in shares of 10x Genomics in the 3rd quarter valued at about $35,000. Blue Trust Inc. lifted its stake in shares of 10x Genomics by 136.5% in the 3rd 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 during the period. Finally, Sound Income Strategies LLC boosted its position in shares of 10x Genomics by 65.2% during the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock valued at $48,000 after purchasing an additional 1,330 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TXG has been the subject of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a research report on Wednesday, February 19th. Stifel Nicolaus lowered their price objective on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Morgan Stanley lowered their price objective on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. JPMorgan Chase & Co. 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 report on Thursday, February 13th. Finally, Leerink Partners cut shares of 10x Genomics from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $25.00 to $12.00 in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.57.

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.