Key insights
- Benjamin J. Hindson, President of 10x Genomics, sold $283,399 in company stock to cover tax obligations. While the sale occurs near the stock's 52-week high, the company has received an "Outperform" rating from William Blair and is involved in AI-driven drug discovery and spatial biology initiatives. However, concerns about AI competition and ARK Invest's sale of shares, alongside a previous sell-off in spatialomics stocks, create mixed signals for the company's near-term equity performance.
Benjamin J. Hindson, President and Chief Scientific Officer of 10x Genomics, Inc. (NASDAQ:TXG), sold shares of the company’s Class A Common Stock on May 22, 2026. The transactions totaled $283,399.
Mr. Hindson disposed of 11,595 shares at a price of $24.4415 per share. Following these sales, Mr. Hindson directly owns 502,000 shares of 10x Genomics Class A Common Stock. The shares were sold to cover tax withholding obligations in connection with the vesting of restricted stock units.The sale comes as TXG stock trades near its 52-week high of $26.45, according to InvestingPro data, following a remarkable 197% gain over the past year. The stock currently appears overvalued based on InvestingPro’s Fair Value analysis. Investors can access detailed valuation metrics and 7 additional ProTips on InvestingPro.
In other recent news, 10X Genomics has been upgraded by William Blair to an "Outperform" rating, highlighting the company’s significant role in AI-driven drug discovery. This upgrade comes as 10X Genomics continues to exceed expectations, with five consecutive top-line beats and achieving adjusted EBITDA breakeven. Furthermore, Bioptimus has launched the Spatial Tissue Embedding Learning Atlas (STELA) in collaboration with 10X Genomics, aiming to profile up to 100,000 patient tissue specimens globally, significantly expanding the scale of existing spatial biology atlases. However, concerns arose when a tweet about Microsoft’s AI model, GigaTIME, caused a sell-off in spatialomics stocks, including 10X Genomics, due to fears of declining demand for spatial proteomics. Additionally, ARK Invest’s sale of over 473,000 shares of 10X Genomics has raised worries about potential reductions by other institutional investors. Despite this, Stifel has raised its price target for 10X Genomics to $25, maintaining a "Buy" rating and citing strong adoption of the company’s new Flex Apex product. These developments reflect the dynamic environment surrounding 10X Genomics in recent weeks.
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