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

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 30,000 shares of the 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 completion of the transaction, the chief executive officer directly owned 1,108,380 shares of the company’s stock, valued at approximately $38,172,607.20. The trade was a 2.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

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 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 value of $444,197.00.
• On Tuesday, April 14th, Serge Saxonov sold 5,000 shares of 10x Genomics stock. The stock was sold at an average price of $24.56, for a total value of $122,800.00.

10x Genomics Price Performance

10x Genomics stock opened at $34.58 on Thursday. The firm has a market capitalization of $4.39 billion, a P/E ratio of -203.41 and a beta of 2.12. The stock has a fifty day moving average price of $26.20 and a two-hundred day moving average price of $21.84. 10x Genomics has a 52-week low of $10.63 and a 52-week high of $36.59.

10x Genomics (NASDAQ:TXG) last issued 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. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The company had revenue of $150.84 million for the quarter, compared to the consensus estimate of $146.41 million. During the same quarter in the previous year, the company earned ($0.28) EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts predict that 10x Genomics will post -0.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. William Blair raised shares of 10x Genomics from a “market perform” rating to an “outperform” rating in a research note on Tuesday, March 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of 10x Genomics in a research note on Friday, March 27th. Citigroup boosted their target price on 10x Genomics from $18.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, April 7th. Morgan Stanley increased their price target on 10x Genomics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Finally, Bank of America raised their price target on 10x Genomics from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, April 20th. Four analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $24.00.

Institutional Trading of 10x Genomics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. acquired a new position in 10x Genomics during the 4th quarter worth $38,000. Larson Financial Group LLC raised its position in shares of 10x Genomics by 164.4% during the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock worth $39,000 after acquiring an additional 1,470 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of 10x Genomics during the first quarter valued at $50,000. Van ECK Associates Corp boosted its holdings in 10x Genomics by 85.9% in the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock valued at $60,000 after acquiring an additional 1,695 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in 10x Genomics by 28.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,660 shares of the company’s stock valued at $92,000 after acquiring an additional 1,237 shares during the last quarter. Institutional investors and hedge funds 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.