Insider Selling: 10x Genomics (NASDAQ:TXG) CEO Sells $1,033,200.00 in Stock

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $34.44, for a total value of $1,033,200.00. Following the completion of the sale, the chief executive officer owned 1,108,380 shares in the company, valued at approximately $38,172,607.20. This represents a 2.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, May 26th, Serge Saxonov sold 10,718 shares of 10x Genomics stock. The stock was sold at an average price of $24.71, for a total transaction of $264,841.78.
• On Friday, May 22nd, Serge Saxonov sold 18,175 shares of 10x Genomics stock. The stock was sold at an average price of $24.44, for a total value of $444,197.00.
• On Tuesday, April 14th, Serge Saxonov sold 5,000 shares of 10x Genomics stock. The shares were sold at an average price of $24.56, for a total value of $122,800.00.

10x Genomics Stock Up 2.9%

TXG opened at $36.75 on Friday. The firm’s fifty day simple moving average is $26.65 and its two-hundred day simple moving average is $22.07. 10x Genomics has a 52-week low of $11.16 and a 52-week high of $37.05. The company has a market cap of $4.67 billion, a price-to-earnings ratio of -216.18 and a beta of 2.12.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.19. The firm had revenue of $150.84 million for the quarter, compared to analyst estimates of $146.41 million. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The business’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.28) earnings per share. On average, research analysts forecast that 10x Genomics will post -0.79 EPS for the current year.

Wall Street Analysts Forecast Growth

TXG has been the topic of a number of research analyst reports. Citigroup lifted their target price on 10x Genomics from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, April 7th. William Blair upgraded 10x Genomics from a “market perform” rating to an “outperform” rating in a report on Tuesday, March 31st. Zacks Research downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Morgan Stanley raised their price objective on 10x Genomics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Finally, Bank of America boosted their price objective on shares of 10x Genomics from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $24.00.

Institutional Trading of 10x Genomics

Several hedge funds have recently modified their holdings of the stock. Edgestream Partners L.P. purchased a new stake in shares of 10x Genomics during the 1st quarter worth $1,233,000. Bull Harbor Capital LLC purchased a new position in 10x Genomics in the first quarter valued at $248,000. EverSource Wealth Advisors LLC raised its stake in 10x Genomics by 16.4% in the first quarter. EverSource Wealth Advisors LLC now owns 7,186 shares of the company’s stock valued at $153,000 after buying an additional 1,012 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in 10x Genomics by 3.5% in the first quarter. The Manufacturers Life Insurance Company now owns 49,048 shares of the company’s stock valued at $1,041,000 after buying an additional 1,661 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in 10x Genomics by 16.0% during the 1st quarter. Quantinno Capital Management LP now owns 5,411,761 shares of the company’s stock worth $114,892,000 after buying an additional 744,558 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

10x Genomics Company Profile

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.