10x Genomics (NASDAQ:TXG) CEO Serge Saxonov Sells 18,175 Shares

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 18,175 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total value of $444,197.00. Following the completion of the sale, the chief executive officer owned 1,149,098 shares of the company’s stock, valued at $28,083,955.12. The trade was a 1.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 Tuesday, May 26th, Serge Saxonov sold 10,718 shares of 10x Genomics stock. The shares were sold at an average price of $24.71, for a total value of $264,841.78.
• 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 Stock Performance

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

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.19. The company had revenue of $150.84 million during the quarter, compared to the consensus estimate of $146.41 million. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. 10x Genomics’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.28) earnings per share. Equities research analysts forecast that 10x Genomics will post -0.82 EPS for the current year.

Analysts Set New Price Targets

TXG has been the subject of a number of recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of 10x Genomics in a research note on Friday, March 27th. UBS Group boosted their price objective on shares of 10x Genomics from $14.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. Citigroup boosted their price objective on shares of 10x Genomics from $18.00 to $24.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 7th. Stifel Nicolaus boosted their price objective on shares of 10x Genomics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Finally, Canaccord Genuity Group boosted their price objective on shares of 10x Genomics from $22.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Four equities research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.17.

Institutional Investors Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Foundations Investment Advisors LLC purchased a new stake in 10x Genomics during the third quarter valued at approximately $665,000. AlphaQuest LLC lifted its position in 10x Genomics by 234.3% during the third quarter. AlphaQuest LLC now owns 133,419 shares of the company’s stock valued at $1,560,000 after acquiring an additional 93,514 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in 10x Genomics during the third quarter valued at approximately $1,179,000. JPMorgan Chase & Co. lifted its position in 10x Genomics by 777.6% during the third quarter. JPMorgan Chase & Co. now owns 1,073,865 shares of the company’s stock valued at $12,553,000 after acquiring an additional 951,495 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in 10x Genomics in the 3rd quarter worth approximately $1,896,000. 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.