Key Points
- Insider sale: Benjamin Hindson sold 7,826 shares at an average of $18.58 on Feb. 23 for $145,407, reducing his stake by 1.81% to 424,779 shares valued at about $7.89M.
- Quarterly results: 10x Genomics beat estimates (EPS -$0.13 vs. -$0.19; revenue $166.0M vs. $160.4M) but remains unprofitable with negative net margin and ROE, while the stock traded at $19.99 and the market cap is roughly $2.55B.
- Analyst and ownership picture: Coverage is mixed with a consensus "Hold" and $18.11 target (4 Buy / 9 Hold / 3 Sell), and institutional investors own about 84.68% of the shares.
10x Genomics (NASDAQ:TXG - Get Free Report) insider Benjamin Hindson sold 7,826 shares of the business's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $18.58, for a total value of $145,407.08. Following the transaction, the insider directly owned 424,779 shares in the company, valued at $7,892,393.82. The trade was a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
10x Genomics Stock Up 1.7%
Shares of TXG traded up $0.33 during trading hours on Thursday, hitting $19.99. The company had a trading volume of 508,366 shares, compared to its average volume of 2,704,306. The business has a fifty day moving average of $19.07 and a 200-day moving average of $15.94. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -57.18 and a beta of 2.24. 10x Genomics has a 12 month low of $6.78 and a 12 month high of $23.56.
10x Genomics (NASDAQ:TXG - Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. The firm had revenue of $166.03 million for the quarter, compared to analysts' expectations of $160.35 million. During the same period in the prior year, the firm earned ($0.40) EPS. The business's revenue was up .6% on a year-over-year basis. On average, equities analysts expect that 10x Genomics will post -1.43 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
TXG has been the subject of a number of recent research reports. Citigroup cut shares of 10x Genomics from a "buy" rating to a "cautious" rating in a research report on Thursday, December 11th. TD Cowen boosted their price objective on shares of 10x Genomics from $18.00 to $19.00 and gave the company a "hold" rating in a report on Friday, February 13th. Canaccord Genuity Group set a $22.00 target price on shares of 10x Genomics in a research report on Friday, February 13th. Stifel Nicolaus raised their target price on shares of 10x Genomics from $15.00 to $20.00 and gave the stock a "buy" rating in a report on Friday, February 13th. Finally, UBS Group lifted their price target on shares of 10x Genomics from $14.00 to $20.00 and gave the company a "neutral" rating in a research report on Friday, February 20th. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, 10x Genomics presently has an average rating of "Hold" and a consensus target price of $18.11.
Get Our Latest Stock Report on 10x Genomics
Institutional Investors Weigh In On 10x Genomics
Several institutional investors and hedge funds have recently added to or reduced their stakes in TXG. Foundations Investment Advisors LLC acquired a new position in shares of 10x Genomics during the 3rd quarter worth $665,000. Jump Financial LLC boosted its stake in 10x Genomics by 130.2% in the second quarter. Jump Financial LLC now owns 1,041,051 shares of the company's stock valued at $12,055,000 after buying an additional 588,769 shares in the last quarter. AlphaQuest LLC raised its stake in 10x Genomics by 234.3% during the third quarter. AlphaQuest LLC now owns 133,419 shares of the company's stock worth $1,560,000 after acquiring an additional 93,514 shares in the last quarter. Friedenthal Financial bought a new stake in shares of 10x Genomics during the 3rd quarter valued at approximately $924,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in 10x Genomics in the 3rd quarter valued at approximately $1,179,000. 84.68% of the stock is currently owned by institutional investors.
10x Genomics Company Profile
(
Get Free Report)
10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.
Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.
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