Serge Saxonov Sells 30,000 Shares of 10x Genomics (NASDAQ:TXG) Stock

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 30,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 1,108,380 shares in the company, valued at approximately $38,172,607.20. This trade represents a 2.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, May 26th, Serge Saxonov sold 10,718 shares of 10x Genomics stock. The stock was 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 transaction of $122,800.00.

10x Genomics Stock Up 3.3%

Shares of TXG stock opened at $35.73 on Friday. The firm has a 50 day moving average price of $26.42 and a two-hundred day moving average price of $21.97. The company has a market capitalization of $4.54 billion, a PE ratio of -210.18 and a beta of 2.12. 10x Genomics has a 12-month low of $11.16 and a 12-month high of $36.88.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.29) by $0.19. The company had revenue of $150.84 million for the quarter, compared to the consensus estimate of $146.41 million. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.28) earnings per share. As a group, research analysts expect that 10x Genomics will post -0.79 EPS for the current year.

Institutional Investors Weigh In On 10x Genomics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TXG. Edgestream Partners L.P. bought a new position in 10x Genomics in the 1st quarter valued at approximately $1,233,000. Bull Harbor Capital LLC bought a new stake in shares of 10x Genomics during the first quarter worth $248,000. EverSource Wealth Advisors LLC grew its stake in shares of 10x Genomics by 16.4% during the first quarter. EverSource Wealth Advisors LLC now owns 7,186 shares of the company’s stock worth $153,000 after buying an additional 1,012 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of 10x Genomics by 3.5% during the first quarter. The Manufacturers Life Insurance Company now owns 49,048 shares of the company’s stock worth $1,041,000 after buying an additional 1,661 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its stake in shares of 10x Genomics by 16.0% in the 1st quarter. Quantinno Capital Management LP now owns 5,411,761 shares of the company’s stock valued at $114,892,000 after acquiring an additional 744,558 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a research note on Friday, March 27th. Citigroup raised their price target on shares of 10x Genomics from $18.00 to $24.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 7th. Stifel Nicolaus boosted their price objective on shares of 10x Genomics from $20.00 to $25.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Finally, Bank of America increased their target price on shares of 10x Genomics from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, 10x Genomics has an average rating of “Hold” and a consensus price target of $24.00.

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.