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PLEASANTON, CA—Benjamin J. Hindson, President and Chief Scientific Officer of 10x Genomics, Inc. (NASDAQ:TXG), sold 4,573 shares of the company’s Class A common stock on February 24, according to a recent SEC filing. The shares were sold at an average price of $11.0656, totaling approximately $50,602. Following this transaction, Hindson retains ownership of 335,324 shares. The sale comes as InvestingPro data shows TXG trading near its 52-week low of $10.63, with the stock down over 75% in the past year.
The sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units, as noted in the filing. Hindson’s role as both President and Chief Scientific Officer places him in a key position within the company, which specializes in laboratory analytical instruments. According to InvestingPro, the company maintains a FAIR financial health score, with analysts setting price targets ranging from $12 to $26.
10x Genomics is headquartered in Pleasanton, California, and is listed on the NASDAQ under the ticker symbol TXG. The company, currently valued at $1.4 billion, shows strong fundamentals with a current ratio of nearly 5, indicating robust liquidity. Get more detailed insights and 8 additional ProTips for TXG with InvestingPro’s comprehensive research report.
In other recent news, 10X Genomics reported its fourth-quarter earnings for 2024, revealing a revenue of $165 million, which exceeded the expected $153.44 million but marked a 10% year-over-year decline. Despite the revenue beat, the company posted a larger-than-expected loss per share of -$0.40, missing the analyst forecast of -$0.31. Analysts from Citi and Canaccord Genuity responded to these results by lowering their price targets for the company to $20 and $18, respectively, while maintaining a Buy rating. The revenue boost was largely driven by strong sales of Chromium instruments and Spatial consumables, though there are concerns about future revenue due to potential NIH funding cuts.
10X Genomics has set its fiscal year 2025 revenue guidance between $610 million and $630 million, which is slightly below the consensus estimate of $631 million. The company is anticipating a modest impact from NIH funding uncertainties, estimating a $7 million effect on revenue. Analysts have expressed optimism about the company’s potential for growth, driven by new product launches and improved execution, despite the current headwinds. The company also reported placing more than 35 Xenium instruments during the quarter, indicating ongoing interest in its product offerings.
Moving forward, 10X Genomics plans to focus on biopharma and large-scale single-cell projects, with expectations of double-digit growth in Chromium reactions and spatial revenue. The company is undergoing a commercial reorganization to better align with its expanding product portfolio, which management believes will enhance its ability to capture future growth opportunities.
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