10x Genomics, Inc. (NASDAQ:TXG) CEO Sells $118,511.10 in Stock

10x Genomics, Inc. (NASDAQ:TXG) CEO Serge Saxonov sold 4,877 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $118,511.10. Following the transaction, the chief executive officer now owns 889,641 shares of the company’s stock, valued at $21,618,276.30. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Serge Saxonov also recently made the following trade(s):

• On Monday, March 4th, Serge Saxonov sold 4,660 shares of 10x Genomics stock. The shares were sold at an average price of $44.00, for a total transaction of $205,040.00.

10x Genomics Stock Performance

NASDAQ:TXG opened at $22.59 on Friday. The company has a 50-day moving average of $30.74 and a 200-day moving average of $40.78. 10x Genomics, Inc. has a twelve month low of $22.50 and a twelve month high of $63.57.

10x Genomics (NASDAQ:TXG) last released its earnings results on Tuesday, April 30th. The company reported ($0.50) EPS for the quarter, meeting the consensus estimate of ($0.50). The business had revenue of $141.01 million during the quarter, compared to analyst estimates of $142.24 million. 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.44) earnings per share. Analysts forecast that 10x Genomics, Inc. will post -1.55 earnings per share for the current year.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. FMR LLC increased its stake in 10x Genomics by 56.4% in the 3rd quarter. FMR LLC now owns 12,666,998 shares of the company’s stock worth $522,514,000 after purchasing an additional 4,565,400 shares in the last quarter. Venrock Management VI LLC purchased a new position in shares of 10x Genomics in the fourth quarter worth approximately $117,894,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of 10x Genomics by 58.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock valued at $135,925,000 after acquiring an additional 1,338,248 shares during the period. Nikko Asset Management Americas Inc. lifted its position in shares of 10x Genomics by 58.6% in 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 in the last quarter. Finally, ARK Investment Management LLC boosted its stake in 10x Genomics by 35.0% in the 4th quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock worth $226,150,000 after purchasing an additional 1,047,827 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on TXG shares. The Goldman Sachs Group reduced their target price on shares of 10x Genomics from $30.00 to $26.00 and set a “sell” rating for the company in a research note on Wednesday, May 1st. UBS Group reduced their price objective on 10x Genomics from $52.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Bank of America lowered their target price on 10x Genomics from $45.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Canaccord Genuity Group reduced their price target on 10x Genomics from $65.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on 10x Genomics from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, 10x Genomics currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.50.

About 10x Genomics

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.