10x Genomics, Inc. (NASDAQ:TXG) CFO Sells $66,711.33 in Stock

10x Genomics, Inc. (NASDAQ:TXG) CFO Justin J. Mcanear sold 2,961 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $66,711.33. Following the completion of the transaction, the chief financial officer now directly owns 143,242 shares of the company’s stock, valued at $3,227,242.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

10x Genomics Stock Down 2.9 %

TXG stock traded down $0.69 during mid-day trading on Monday, hitting $22.80. 1,209,171 shares of the company were exchanged, compared to its average volume of 1,664,947. 10x Genomics, Inc. has a 12-month low of $15.28 and a 12-month high of $57.90. The firm has a market capitalization of $2.75 billion, a P/E ratio of -10.22 and a beta of 1.84. The business has a fifty day simple moving average of $19.58 and a 200-day simple moving average of $28.51.

Analysts Set New Price Targets

TXG has been the subject of a number of recent research reports. Bank of America reduced their target price on shares of 10x Genomics from $36.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. Wolfe Research reiterated a “peer perform” rating on shares of 10x Genomics in a report on Thursday, June 27th. JPMorgan Chase & Co. cut 10x Genomics from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $40.00 to $20.00 in a report on Thursday, July 18th. Barclays cut their price target on 10x Genomics from $36.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, June 28th. Finally, Stifel Nicolaus lowered their price objective on 10x Genomics from $53.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $31.46.

Hedge Funds Weigh In On 10x Genomics

A number of hedge funds have recently made changes to their positions in the stock. ARK Investment Management LLC lifted its stake in 10x Genomics by 48.2% during the second quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock worth $181,153,000 after purchasing an additional 3,029,951 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in 10x Genomics by 69.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock worth $119,483,000 after acquiring an additional 2,521,289 shares in the last quarter. Venrock Management VI LLC acquired a new position in 10x Genomics during the 4th quarter worth about $117,894,000. Nikko Asset Management Americas Inc. boosted its holdings in 10x Genomics by 58.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock valued at $135,780,000 after acquiring an additional 1,338,248 shares during the period. Finally, Norges Bank acquired a new position in 10x Genomics in the 4th quarter valued at about $36,262,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

10x Genomics Company Profile

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.