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

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 10,000 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $19.13, for a total transaction of $191,300.00. Following the sale, the chief executive officer directly owned 1,177,273 shares of the company’s stock, valued at $22,521,232.49. This represents a 0.84% decrease in their ownership of the stock. 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, March 24th, Serge Saxonov sold 5,000 shares of 10x Genomics stock. The stock was sold at an average price of $19.52, for a total transaction of $97,600.00.
• On Monday, February 23rd, Serge Saxonov sold 9,632 shares of 10x Genomics stock. The stock was sold at an average price of $18.58, for a total transaction of $178,962.56.

10x Genomics Stock Up 5.6%

Shares of TXG stock traded up $1.10 during trading hours on Wednesday, reaching $20.91. 2,734,255 shares of the stock traded hands, compared to its average volume of 2,661,438. The firm has a market capitalization of $2.67 billion, a PE ratio of -59.74 and a beta of 2.20. 10x Genomics has a 1-year low of $6.78 and a 1-year high of $23.56. The business has a fifty day moving average price of $20.04 and a 200 day moving average price of $16.83.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.13) EPS for the quarter, topping 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 firm had revenue of $166.03 million during the quarter, compared to analyst estimates of $160.35 million. During the same quarter last year, the business posted ($0.40) EPS. The company’s revenue was up .6% on a year-over-year basis. Research analysts expect that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On 10x Genomics

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of 10x Genomics by 6.7% during the 3rd quarter. Vanguard Group Inc. now owns 13,274,332 shares of the company’s stock valued at $155,177,000 after acquiring an additional 834,272 shares during the last quarter. ARK Investment Management LLC lifted its holdings in 10x Genomics by 6.6% in the 4th quarter. ARK Investment Management LLC now owns 12,667,369 shares of the company’s stock worth $206,605,000 after purchasing an additional 779,973 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its position in 10x Genomics by 12.1% during the second quarter. Nikko Asset Management Americas Inc. now owns 6,009,653 shares of the company’s stock worth $69,532,000 after purchasing an additional 646,997 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in 10x Genomics by 2.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,492,189 shares of the company’s stock worth $89,578,000 after purchasing an additional 110,970 shares during the period. Finally, Amova Asset Management Americas Inc. grew its holdings in 10x Genomics by 2.0% during the fourth quarter. Amova Asset Management Americas Inc. now owns 5,486,153 shares of the company’s stock valued at $89,424,000 after purchasing an additional 109,270 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on TXG. TD Cowen boosted their target price on 10x Genomics from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Friday, February 13th. Leerink Partners reduced their price target on 10x Genomics from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Tuesday, January 27th. Barclays boosted their price target on 10x Genomics from $17.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, December 15th. Stifel Nicolaus increased their price objective on 10x Genomics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a research report on Monday, December 22nd. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.46.

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.