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

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 9,632 shares of 10x Genomics stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total value 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. This represents a 0.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

10x Genomics Stock Performance

Shares of 10x Genomics stock traded up $0.56 during trading hours on Wednesday, hitting $19.66. The company’s stock had a trading volume of 2,444,719 shares, compared to its average volume of 2,765,983. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -56.17 and a beta of 2.24. 10x Genomics has a twelve month low of $6.78 and a twelve month high of $23.56. The firm has a fifty day moving average of $18.99 and a 200-day moving average of $15.91.

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TXG. Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a report on Monday, December 22nd. Barclays lifted their price objective on 10x Genomics from $17.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday, December 15th. Deutsche Bank Aktiengesellschaft set a $17.00 price objective on 10x Genomics and gave the company a “hold” rating in a report on Friday, February 13th. Morgan Stanley restated an “equal weight” rating and set a $20.00 target price (up from $17.00) on shares of 10x Genomics in a report on Monday, December 1st. Finally, Zacks Research cut 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, 10x Genomics has an average rating of “Hold” and an average price target of $18.11.

Institutional Trading of 10x Genomics

Several hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its stake in 10x Genomics by 806.4% during the 1st quarter. Royal Bank of Canada now owns 182,836 shares of the company’s stock worth $1,597,000 after purchasing an additional 162,665 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of 10x Genomics by 163.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 645,366 shares of the company’s stock valued at $5,634,000 after buying an additional 400,430 shares during the period. Focus Partners Wealth acquired a new position in shares of 10x Genomics during the first quarter worth about $92,000. Ethic Inc. acquired a new position in shares of 10x Genomics during the second quarter worth about $289,000. Finally, AlphaQuest LLC increased its stake in shares of 10x Genomics by 35.5% during the second quarter. AlphaQuest LLC now owns 39,905 shares of the company’s stock worth $462,000 after buying an additional 10,446 shares during the period. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.