10x Genomics (NASDAQ:TXG) CEO Serge Saxonov Sells 9,632 Shares

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 9,632 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total transaction of $178,962.56. Following the completion of the sale, the chief executive officer owned 1,061,924 shares in the company, valued at $19,730,547.92. The trade was a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

10x Genomics Trading Up 2.9%

Shares of TXG stock traded up $0.56 on Wednesday, reaching $19.66. 2,444,719 shares of the stock were exchanged, compared to its average volume of 2,765,983. The company has a market capitalization of $2.51 billion, a price-to-earnings ratio of -56.17 and a beta of 2.24. The business’s 50 day moving average price is $18.99 and its 200 day moving average price is $15.91. 10x Genomics has a twelve month low of $6.78 and a twelve month high of $23.56.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates 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%.10x Genomics’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the firm earned ($0.40) earnings per share. Equities research analysts forecast that 10x Genomics will post -1.43 earnings per share for the current year.

Institutional Trading of 10x Genomics

A number of large investors have recently bought and sold shares of the business. Allworth Financial LP increased its stake in 10x Genomics by 150.4% in the second quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock valued at $26,000 after purchasing an additional 1,364 shares during the period. Geneos Wealth Management Inc. acquired a new position in 10x Genomics in the 4th quarter valued at about $38,000. Larson Financial Group LLC raised its stake in 10x Genomics by 164.4% during the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after acquiring an additional 1,470 shares during the last quarter. True Wealth Design LLC raised its stake in 10x Genomics by 1,552.5% during the 2nd quarter. True Wealth Design LLC now owns 3,586 shares of the company’s stock valued at $42,000 after acquiring an additional 3,369 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in 10x Genomics by 85.9% during the 4th quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock worth $60,000 after acquiring an additional 1,695 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on TXG shares. Deutsche Bank Aktiengesellschaft set a $17.00 price target on shares of 10x Genomics and gave the company a “hold” rating in a research note on Friday, February 13th. Stifel Nicolaus increased their target price on shares of 10x Genomics from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Zacks Research cut shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. UBS Group upped their price objective on shares of 10x Genomics from $14.00 to $20.00 and gave the company a “neutral” rating in a research note on Friday, February 20th. Finally, Piper Sandler raised their price objective on 10x Genomics from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, November 11th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $18.11.

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.