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

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 10,000 shares of the business’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $19.13, for a total value of $191,300.00. Following the completion of the transaction, the chief executive officer directly owned 1,177,273 shares of the company’s stock, valued at approximately $22,521,232.49. The trade was a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, March 24th, Serge Saxonov sold 5,000 shares of 10x Genomics stock. The shares were sold at an average price of $19.52, for a total value of $97,600.00.
• 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 value of $178,962.56.

10x Genomics Stock Performance

Shares of 10x Genomics stock opened at $20.91 on Thursday. The company has a market capitalization of $2.67 billion, a PE ratio of -59.74 and a beta of 2.20. The company has a 50-day simple moving average of $20.04 and a two-hundred day simple moving average of $16.86. 10x Genomics has a one year low of $6.78 and a one year high of $23.56.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results 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. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. The business had revenue of $166.03 million for the quarter, compared to analysts’ expectations of $160.35 million. During the same period last year, the business earned ($0.40) EPS. The company’s revenue was up .6% compared to the same quarter last year. On average, equities analysts predict that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TXG. Citigroup downgraded shares of 10x Genomics from a “buy” rating to a “cautious” rating in a research note on Thursday, December 11th. Barclays increased their price objective on 10x Genomics from $17.00 to $22.00 and gave the company an “overweight” rating in a report on Monday, December 15th. UBS Group raised their price objective on 10x Genomics from $14.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Stifel Nicolaus boosted their target price on 10x Genomics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Finally, TD Cowen upped their target price on 10x Genomics from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, 10x Genomics currently has a consensus rating of “Hold” and an average target price of $18.46.

Institutional Trading of 10x Genomics

Several large investors have recently bought and sold shares of TXG. Allworth Financial LP lifted its stake in shares of 10x Genomics by 150.4% during the second quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock worth $26,000 after buying an additional 1,364 shares during the period. Geneos Wealth Management Inc. purchased a new stake in shares of 10x Genomics during the fourth quarter valued at $38,000. Larson Financial Group LLC increased its position in shares of 10x Genomics by 164.4% in the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after acquiring an additional 1,470 shares during the period. Van ECK Associates Corp increased its position in shares of 10x Genomics by 85.9% in the 4th quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock valued at $60,000 after acquiring an additional 1,695 shares during the period. Finally, True Wealth Design LLC raised its stake in 10x Genomics by 26.4% in the 3rd quarter. True Wealth Design LLC now owns 4,534 shares of the company’s stock worth $53,000 after acquiring an additional 948 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.