10x Genomics (NASDAQ:TXG) CEO Sells $191,300.00 in Stock

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 10,000 shares of the firm’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $19.13, for a total value of $191,300.00. Following the transaction, the chief executive officer owned 1,177,273 shares in the company, valued at approximately $22,521,232.49. This represents a 0.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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, 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 transaction of $178,962.56.

10x Genomics Price Performance

Shares of 10x Genomics stock opened at $19.48 on Friday. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of -55.66 and a beta of 2.20. The firm’s 50-day moving average is $20.00 and its two-hundred day moving average is $16.93. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $23.56.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on TXG shares. 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 research note on Friday, February 13th. Canaccord Genuity Group set a $22.00 target price on 10x Genomics in a research report on Friday, February 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a report on Monday, December 22nd. Deutsche Bank Aktiengesellschaft set a $17.00 price target on 10x Genomics and gave the stock a “hold” rating in a research report on Friday, February 13th. Finally, Stifel Nicolaus upped their price objective on 10x Genomics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Four investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $18.46.

Institutional Investors Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in 10x Genomics by 241.3% in the second quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company’s stock valued at $47,916,000 after acquiring an additional 2,925,372 shares in the last quarter. Millennium Management LLC increased its position in shares of 10x Genomics by 84.7% during 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 in the last quarter. Wellington Management Group LLP lifted its holdings in shares of 10x Genomics by 126.6% during the 3rd quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company’s stock valued at $50,099,000 after purchasing an additional 2,394,355 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of 10x Genomics by 207.2% during the 2nd quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company’s stock valued at $25,864,000 after purchasing an additional 1,506,530 shares during the last quarter. Finally, Casdin Capital LLC acquired a new stake in shares of 10x Genomics in the 4th quarter worth $22,834,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.