Insider Selling: 10x Genomics (NASDAQ:TXG) CEO Sells $444,197.00 in Stock

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 18,175 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $24.44, for a total transaction of $444,197.00. Following the sale, the chief executive officer directly owned 1,149,098 shares of the company’s stock, valued at approximately $28,083,955.12. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 Price Performance

NASDAQ TXG traded up $0.89 during trading hours on Wednesday, hitting $25.51. The company had a trading volume of 3,568,979 shares, compared to its average volume of 2,644,869. 10x Genomics has a fifty-two week low of $8.41 and a fifty-two week high of $26.44. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of -150.06 and a beta of 2.05. The firm’s 50 day moving average is $21.85 and its 200 day moving average is $19.80.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) earnings per share (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 during the quarter, compared to the consensus estimate of $146.41 million. During the same quarter last year, the company earned ($0.28) earnings per share. 10x Genomics’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts anticipate that 10x Genomics will post -0.82 EPS for the current year.

Wall Street Analyst Weigh In

TXG has been the subject of several recent research reports. Barclays increased their price objective on shares of 10x Genomics from $22.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, April 14th. Canaccord Genuity Group increased their price objective on shares of 10x Genomics from $22.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Morgan Stanley increased their price objective on shares of 10x Genomics from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. William Blair raised shares of 10x Genomics from a “market perform” rating to an “outperform” rating in a research report on Tuesday, March 31st. Finally, Citigroup increased their price objective on shares of 10x Genomics from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, April 7th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, 10x Genomics presently has a consensus rating of “Hold” and a consensus target price of $23.17.

Hedge Funds Weigh In On 10x Genomics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Edgestream Partners L.P. purchased a new position in shares of 10x Genomics during the 1st quarter valued at approximately $1,233,000. Bull Harbor Capital LLC purchased a new position in shares of 10x Genomics during the 1st quarter valued at approximately $248,000. EverSource Wealth Advisors LLC boosted its stake in shares of 10x Genomics by 16.4% during the 1st quarter. EverSource Wealth Advisors LLC now owns 7,186 shares of the company’s stock valued at $153,000 after buying an additional 1,012 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of 10x Genomics by 3.5% during the 1st quarter. The Manufacturers Life Insurance Company now owns 49,048 shares of the company’s stock valued at $1,041,000 after buying an additional 1,661 shares during the last quarter. Finally, Quantinno Capital Management LP boosted its stake in shares of 10x Genomics by 16.0% during the 1st quarter. Quantinno Capital Management LP now owns 5,411,761 shares of the company’s stock valued at $114,892,000 after buying an additional 744,558 shares during the last quarter. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.