Insider Selling: 10x Genomics (NASDAQ:TXG) CEO Sells $97,600.00 in 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 completion of the sale, the chief executive officer owned 1,172,273 shares in the company, valued at $22,882,768.96. The trade was a 0.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, March 23rd, Serge Saxonov sold 10,000 shares of 10x Genomics stock. The shares were 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 value of $178,962.56.

10x Genomics Trading Down 4.7%

10x Genomics stock opened at $19.48 on Friday. The business’s fifty day simple moving average is $20.00 and its two-hundred day simple moving average is $16.93. 10x Genomics has a 12 month low of $6.78 and a 12 month high of $23.56. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of -55.66 and a beta of 2.20.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.06. 10x Genomics had a negative return on equity of 6.89% and a negative net margin of 6.77%.The firm had revenue of $166.03 million during the quarter, compared to the consensus estimate of $160.35 million. During the same period last year, the company earned ($0.40) earnings per share. The company’s revenue was up .6% on a year-over-year basis. On average, equities research analysts predict that 10x Genomics will post -1.43 EPS for the current year.

Institutional Investors Weigh In On 10x Genomics

Several large investors have recently bought and sold shares of the business. Allworth Financial LP raised its position in 10x Genomics by 150.4% in the 2nd 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 last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of 10x Genomics during the 4th quarter valued at about $38,000. Larson Financial Group LLC boosted its holdings in shares of 10x Genomics by 164.4% during 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 last quarter. True Wealth Design LLC grew its stake in shares of 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 acquiring an additional 948 shares during the period. Finally, Abich Financial Wealth Management LLC bought a new stake in shares of 10x Genomics in the third quarter worth approximately $56,000. 84.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on TXG shares. Canaccord Genuity Group set a $22.00 price objective on shares of 10x Genomics in a research note on Friday, February 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a research note on Monday, December 22nd. Citigroup cut shares of 10x Genomics from a “buy” rating to a “cautious” rating in a report on Thursday, December 11th. Deutsche Bank Aktiengesellschaft set a $17.00 price target on shares of 10x Genomics and gave the company a “hold” rating in a research report on Friday, February 13th. Finally, TD Cowen boosted their price objective on shares of 10x Genomics from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Friday, February 13th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, 10x Genomics has a consensus 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.