Serge Saxonov Sells 5,000 Shares of 10x Genomics (NASDAQ:TXG) Stock

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $19.52, for a total value of $97,600.00. Following the transaction, the chief executive officer directly owned 1,172,273 shares in the company, valued at $22,882,768.96. The trade was a 0.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, March 23rd, Serge Saxonov sold 10,000 shares of 10x Genomics stock. The stock was sold at an average price of $19.13, for a total value of $191,300.00.
• On Monday, February 23rd, Serge Saxonov sold 9,632 shares of 10x Genomics stock. The shares were sold at an average price of $18.58, for a total transaction of $178,962.56.

10x Genomics Stock Up 5.6%

TXG stock traded up $1.10 during midday trading on Wednesday, reaching $20.91. 2,734,255 shares of the company’s stock traded hands, compared to its average volume of 2,661,438. The firm’s fifty day moving average price is $20.04 and its 200-day moving average price is $16.83. 10x Genomics has a 52 week low of $6.78 and a 52 week high of $23.56. The company has a market cap of $2.67 billion, a price-to-earnings ratio of -59.74 and a beta of 2.20.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The firm had revenue of $166.03 million for the quarter, compared to analyst estimates of $160.35 million. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. The business’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm earned ($0.40) earnings per share. Analysts forecast that 10x Genomics will post -1.43 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on TXG. UBS Group raised their price target on shares of 10x Genomics from $14.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Leerink Partners lowered their price objective on 10x Genomics from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Tuesday, January 27th. Morgan Stanley restated an “equal weight” rating and issued a $20.00 target price (up from $17.00) on shares of 10x Genomics in a report on Monday, December 1st. Stifel Nicolaus lifted their target price on 10x Genomics from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Finally, TD Cowen upped their price target on 10x Genomics from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.46.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC lifted its position in shares of 10x Genomics by 1.4% during the 4th quarter. Intech Investment Management LLC now owns 40,047 shares of the company’s stock worth $653,000 after buying an additional 567 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of 10x Genomics by 3.0% in the third quarter. Arizona State Retirement System now owns 29,586 shares of the company’s stock valued at $346,000 after acquiring an additional 872 shares in the last quarter. Certuity LLC increased its position in shares of 10x Genomics by 4.7% during the fourth quarter. Certuity LLC now owns 20,204 shares of the company’s stock valued at $330,000 after acquiring an additional 904 shares during the last quarter. Versant Capital Management Inc lifted its holdings in 10x Genomics by 3.3% during the third quarter. Versant Capital Management Inc now owns 29,364 shares of the company’s stock worth $343,000 after acquiring an additional 945 shares during the period. Finally, True Wealth Design LLC boosted its position in 10x Genomics by 26.4% in the third quarter. True Wealth Design LLC now owns 4,534 shares of the company’s stock worth $53,000 after purchasing an additional 948 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

About 10x Genomics

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.