Serge Saxonov Sells 5,000 Shares of 10x Genomics (NASDAQ:TXG) Stock

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $19.52, for a total transaction of $97,600.00. Following the completion of the sale, the chief executive officer owned 1,172,273 shares of the company’s stock, valued at $22,882,768.96. This trade represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was 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 stock was sold at an average price of $18.58, for a total value of $178,962.56.

10x Genomics Stock Down 2.3%

TXG opened at $20.43 on Friday. The stock has a market cap of $2.61 billion, a PE ratio of -58.37 and a beta of 2.20. The business has a 50 day moving average of $20.02 and a 200-day moving average of $16.89. 10x Genomics has a 52 week low of $6.78 and a 52 week high of $23.56.

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, topping the consensus estimate of ($0.19) by $0.06. The company had revenue of $166.03 million for the quarter, compared to analysts’ expectations of $160.35 million. 10x Genomics had a negative return on equity of 6.89% and a negative net margin of 6.77%.The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.40) earnings per share. Equities analysts anticipate that 10x Genomics will post -1.43 EPS for the current year.

Institutional Investors Weigh In On 10x Genomics

Several institutional investors have recently modified their holdings of TXG. Rockefeller Capital Management L.P. raised its position in 10x Genomics by 170.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 17,186 shares of the company’s stock worth $280,000 after buying an additional 10,830 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of 10x Genomics by 129.9% during the 4th quarter. Corient Private Wealth LLC now owns 149,027 shares of the company’s stock valued at $2,427,000 after acquiring an additional 84,197 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of 10x Genomics by 21.2% during the 4th quarter. Invesco Ltd. now owns 334,300 shares of the company’s stock valued at $5,452,000 after acquiring an additional 58,537 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of 10x Genomics by 79.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 83,266 shares of the company’s stock worth $1,358,000 after acquiring an additional 36,938 shares during the period. Finally, EP Wealth Advisors LLC bought a new stake in shares of 10x Genomics in the fourth quarter worth approximately $188,000. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Citigroup lowered shares of 10x Genomics from a “buy” rating to a “cautious” rating in a research note on Thursday, December 11th. Leerink Partners dropped their price objective on shares of 10x Genomics from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Tuesday, January 27th. Barclays upped their price objective on shares of 10x Genomics from $17.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. TD Cowen lifted their target price on shares of 10x Genomics from $18.00 to $19.00 and gave the company a “hold” rating in a report on Friday, February 13th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $20.00 price target (up from $17.00) on shares of 10x Genomics in a research report on Monday, December 1st. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently 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.