10x Genomics (NASDAQ:TXG) CEO Serge Saxonov Sells 10,718 Shares of Stock

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 10,718 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $24.71, for a total value of $264,841.78. Following the transaction, the chief executive officer owned 1,138,380 shares of the company’s stock, valued at approximately $28,129,369.80. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• 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 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.
• 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, 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.

10x Genomics Trading Up 3.6%

Shares of NASDAQ:TXG opened at $25.51 on Thursday. The stock has a 50 day moving average of $22.03 and a 200 day moving average of $19.89. The company has a market cap of $3.24 billion, a PE ratio of -150.06 and a beta of 2.05. 10x Genomics has a 12-month low of $8.41 and a 12-month high of $26.44.

10x Genomics (NASDAQ:TXG) last released its 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. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The firm had revenue of $150.84 million during the quarter, compared to analysts’ expectations of $146.41 million. During the same quarter last year, the business posted ($0.28) earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. Equities research analysts predict that 10x Genomics will post -0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On 10x Genomics

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of 10x Genomics by 6.7% in the third quarter. Vanguard Group Inc. now owns 13,274,332 shares of the company’s stock worth $155,177,000 after purchasing an additional 834,272 shares during the last quarter. ARK Investment Management LLC increased its holdings in shares of 10x Genomics by 6.6% in the fourth 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. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of 10x Genomics by 2.1% in 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 last quarter. Amova Asset Management Americas Inc. increased its holdings in shares of 10x Genomics by 2.0% in the fourth quarter. Amova Asset Management Americas Inc. now owns 5,486,153 shares of the company’s stock worth $89,424,000 after purchasing an additional 109,270 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of 10x Genomics by 84.7% in the third quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock worth $63,570,000 after purchasing an additional 2,494,142 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TXG shares. Bank of America increased their target price on 10x Genomics from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 10x Genomics in a research report on Friday, March 27th. TD Cowen increased their target price on 10x Genomics from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, February 13th. Zacks Research cut 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Finally, Citigroup increased their target price on 10x Genomics from $18.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 7th. Four investment 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. Based on data from MarketBeat.com, 10x Genomics presently has a consensus rating of “Hold” and a consensus target price of $23.17.

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.