Key Points
- 10x Genomics CFO Adam Taich sold 46,388 shares at an average price of $64.57, totaling nearly $3.0 million. His remaining stake fell 12.79% to 316,344 shares.
- The company’s latest quarterly results beat expectations, with an adjusted loss of $0.14 per share versus the anticipated $0.24 loss and revenue of $151.04 million. However, revenue declined 12.7% year over year, and analysts expect a full-year loss.
- TXG shares opened at $68.59 and have risen sharply toward their 52-week high, while analyst sentiment remains generally cautious: the consensus rating is “Hold” with an average price target of $44.00.
10x Genomics (NASDAQ:TXG - Get Free Report) CFO Adam Taich sold 46,388 shares of the business's stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $64.57, for a total value of $2,995,273.16. Following the sale, the chief financial officer owned 316,344 shares in the company, valued at approximately $20,426,332.08. The trade was a 12.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Adam Taich also recently made the following trade(s):
- On Monday, August 24th, Adam Taich sold 17,166 shares of 10x Genomics stock. The shares were sold at an average price of $63.02, for a total value of $1,081,801.32.
10x Genomics Stock Up 3.3%
Shares of NASDAQ:TXG opened at $68.59 on Friday. 10x Genomics has a 52-week low of $11.16 and a 52-week high of $69.67. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of -116.25 and a beta of 2.08. The business has a 50-day moving average price of $53.68 and a 200-day moving average price of $35.00.
10x Genomics (NASDAQ:TXG - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.24) by $0.10. 10x Genomics had a negative return on equity of 9.33% and a negative net margin of 12.18%.The firm had revenue of $151.04 million for the quarter, compared to analyst estimates of $146.67 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. 10x Genomics's revenue for the quarter was down 12.7% on a year-over-year basis. As a group, equities analysts anticipate that 10x Genomics will post -0.75 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have recently commented on TXG shares. Leerink Partners upped their target price on 10x Genomics from $23.00 to $40.00 and gave the stock a "market perform" rating in a research note on Friday, July 17th. Morgan Stanley lifted their price target on 10x Genomics from $37.00 to $40.00 and gave the company an "equal weight" rating in a research report on Friday, August 7th. TD Cowen reissued a "hold" rating on shares of 10x Genomics in a report on Wednesday, July 15th. UBS Group assumed coverage on 10x Genomics in a research report on Wednesday. They issued a "neutral" rating and a $68.00 price objective on the stock. Finally, Royal Bank Of Canada assumed coverage on shares of 10x Genomics in a research note on Tuesday, September 1st. They set a "sector perform" rating and a $70.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $44.00.
Check Out Our Latest Analysis on 10x Genomics
Hedge Funds Weigh In On 10x Genomics
A number of large investors have recently bought and sold shares of TXG. California State Teachers Retirement System lifted its holdings in 10x Genomics by 3,700.4% during the second quarter. California State Teachers Retirement System now owns 4,679,895 shares of the company's stock valued at $179,427,000 after purchasing an additional 4,556,753 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of 10x Genomics by 241.3% during the second quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company's stock worth $47,916,000 after purchasing an additional 2,925,372 shares in the last quarter. Millennium Management LLC raised its position in shares of 10x Genomics by 84.7% during the 3rd quarter. Millennium Management LLC now owns 5,437,969 shares of the company's stock worth $63,570,000 after purchasing an additional 2,494,142 shares during the last quarter. Wellington Management Group LLP raised its position in shares of 10x Genomics by 126.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company's stock worth $50,099,000 after purchasing an additional 2,394,355 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in 10x Genomics by 207.2% in the 2nd quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company's stock valued at $25,864,000 after buying an additional 1,506,530 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.
About 10x Genomics
(
Get Free Report)
10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.
The company's product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.
Further Reading
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