10x Genomics (NASDAQ:TXG) CEO Serge Saxonov Sells 5,000 Shares

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $19.52, for a total transaction of $97,600.00. Following the completion of the transaction, the chief executive officer directly owned 1,172,273 shares in the company, valued at $22,882,768.96. This represents a 0.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 transaction of $191,300.00.
• On Monday, February 23rd, Serge Saxonov sold 9,632 shares of 10x Genomics stock. The shares were sold at an average price of $18.58, for a total transaction of $178,962.56.

10x Genomics Price Performance

Shares of TXG stock opened at $20.91 on Thursday. The company has a market capitalization of $2.67 billion, a P/E ratio of -59.74 and a beta of 2.20. The company’s 50-day simple moving average is $20.04 and its two-hundred day simple moving average is $16.86. 10x Genomics has a one year low of $6.78 and a one year high of $23.56.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TXG. Rockefeller Capital Management L.P. raised its position in shares of 10x Genomics by 170.4% in the 4th quarter. Rockefeller Capital Management L.P. now owns 17,186 shares of the company’s stock worth $280,000 after acquiring an additional 10,830 shares in the last quarter. Corient Private Wealth LLC grew its stake in 10x Genomics by 129.9% in the fourth quarter. Corient Private Wealth LLC now owns 149,027 shares of the company’s stock valued at $2,427,000 after purchasing an additional 84,197 shares during the last quarter. Invesco Ltd. raised its holdings in 10x Genomics by 21.2% in the fourth quarter. Invesco Ltd. now owns 334,300 shares of the company’s stock worth $5,452,000 after purchasing an additional 58,537 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of 10x Genomics by 79.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 83,266 shares of the company’s stock valued at $1,358,000 after buying an additional 36,938 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in shares of 10x Genomics in the 4th quarter valued at about $188,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TXG. TD Cowen lifted their target price on 10x Genomics from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a research report on Monday, December 22nd. Leerink Partners cut their price target on 10x Genomics from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Tuesday, January 27th. 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. Finally, Canaccord Genuity Group set a $22.00 price objective on shares of 10x Genomics in a research note on Friday, February 13th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, 10x Genomics has an average rating of “Hold” and a consensus price target of $18.46.

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.