Insider Selling: 10x Genomics (NASDAQ:TXG) CEO Sells $2,030,500.00 in Stock

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 25,000 shares of 10x Genomics stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $81.22, for a total transaction of $2,030,500.00. Following the completion of the sale, the chief executive officer directly owned 1,050,249 shares in the company, valued at $85,301,223.78. This trade represents a 2.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Wednesday, August 26th, Serge Saxonov sold 10,486 shares of 10x Genomics stock. The shares were sold at an average price of $63.69, for a total value of $667,853.34.
• On Monday, August 24th, Serge Saxonov sold 18,545 shares of 10x Genomics stock. The stock was sold at an average price of $63.02, for a total value of $1,168,705.90.

10x Genomics Price Performance

Shares of NASDAQ TXG traded up $8.49 during trading on Thursday, reaching $84.11. 4,085,290 shares of the stock traded hands, compared to its average volume of 2,877,569. The stock has a market capitalization of $10.96 billion, a P/E ratio of -142.56 and a beta of 2.08. 10x Genomics has a 52-week low of $11.16 and a 52-week high of $85.93. The company has a 50-day moving average of $59.11 and a 200-day moving average of $38.16.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.10. The business had revenue of $151.04 million for the quarter, compared to analysts’ expectations of $146.67 million. 10x Genomics had a negative return on equity of 9.33% and a negative net margin of 12.18%.The firm’s quarterly revenue was down 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 EPS. Analysts expect that 10x Genomics will post -0.75 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TXG. Sei Investments Co. boosted its stake in 10x Genomics by 113.5% during the first quarter. Sei Investments Co. now owns 44,679 shares of the company’s stock valued at $949,000 after buying an additional 23,748 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of 10x Genomics in the 1st quarter valued at about $5,945,000. Clough Capital Partners L P purchased a new stake in shares of 10x Genomics in the 4th quarter valued at about $9,955,000. Proficio Capital Partners LLC bought a new stake in shares of 10x Genomics during the 2nd quarter valued at about $781,000. Finally, Squarepoint Ops LLC bought a new stake in shares of 10x Genomics during the 2nd quarter valued at about $2,069,000. Institutional investors own 84.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of 10x Genomics in a report on Monday. Stephens boosted their price objective on 10x Genomics from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Morgan Stanley increased their price objective on 10x Genomics from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Stifel Nicolaus set a $50.00 target price on 10x Genomics in a report on Friday, August 7th. Finally, Leerink Partners upped their price target on 10x Genomics from $23.00 to $40.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $44.00.

About 10x Genomics

10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.

The company’s product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.