Insider Selling: 10x Genomics (NASDAQ:TXG) CEO Sells 30,000 Shares of Stock

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 30,000 shares of 10x Genomics stock in a transaction dated 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 transaction, the chief executive officer directly owned 1,108,380 shares of the company’s stock, valued at approximately $38,172,607.20. This trade represents a 2.64% 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, May 26th, Serge Saxonov sold 10,718 shares of 10x Genomics stock. The shares were 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 shares were sold at an average price of $24.44, for a total transaction 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 Trading Up 8.5%

10x Genomics stock traded up $2.71 during midday trading on Wednesday, reaching $34.58. The stock had a trading volume of 2,585,887 shares, compared to its average volume of 2,763,459. 10x Genomics has a 12 month low of $10.63 and a 12 month high of $36.59. The company has a market capitalization of $4.39 billion, a P/E ratio of -203.41 and a beta of 2.12. The company has a fifty day moving average price of $25.98 and a two-hundred day moving average price of $21.73.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.29) by $0.19. The business 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 company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.28) earnings per share. On average, equities research analysts predict that 10x Genomics will post -0.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on TXG shares. Zacks Research lowered shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Stifel Nicolaus boosted their target price on shares of 10x Genomics from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a report on Friday, March 27th. JPMorgan Chase & Co. raised their price target on shares of 10x Genomics from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Finally, Canaccord Genuity Group lifted their price target on 10x Genomics from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, 10x Genomics has a consensus rating of “Hold” and a consensus target price of $24.00.

Hedge Funds Weigh In On 10x Genomics

Hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. purchased a new stake in shares of 10x Genomics in the fourth quarter valued at about $38,000. Larson Financial Group LLC boosted its holdings in 10x Genomics by 164.4% during the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock worth $39,000 after purchasing an additional 1,470 shares during the last quarter. Fifth Third Bancorp bought a new stake in 10x Genomics in the 1st quarter worth about $50,000. Van ECK Associates Corp grew its position in 10x Genomics by 85.9% in the 4th quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock worth $60,000 after purchasing an additional 1,695 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in 10x Genomics by 203.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company’s stock valued at $87,000 after buying an additional 5,025 shares during the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.