10x Genomics (NASDAQ:TXG) CEO Sells $667,853.34 in Stock

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 10,486 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $63.69, for a total transaction of $667,853.34. Following the transaction, the chief executive officer owned 1,075,349 shares in the company, valued at $68,488,977.81. This represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• 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 transaction of $1,168,705.90.
• On Monday, June 22nd, Serge Saxonov sold 30,000 shares of 10x Genomics stock. The stock was sold at an average price of $34.44, for a total transaction of $1,033,200.00.

10x Genomics Price Performance

TXG opened at $61.54 on Monday. The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of -104.30 and a beta of 2.03. The firm has a 50 day moving average price of $48.16 and a 200-day moving average price of $31.92. 10x Genomics has a twelve month low of $11.16 and a twelve month high of $66.94.

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

Analysts Set New Price Targets

TXG has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Morgan Stanley increased their target price on 10x Genomics from $37.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, August 7th. TD Cowen reissued a “hold” rating on shares of 10x Genomics in a research report on Wednesday, July 15th. Piper Sandler boosted their price target on 10x Genomics from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Finally, Leerink Partners upped their price target on shares of 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 analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, 10x Genomics has a consensus rating of “Hold” and an average target price of $38.31.

Hedge Funds Weigh In On 10x Genomics

A number of institutional investors have recently bought and sold shares of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in 10x Genomics during the second quarter valued at $2,377,000. California State Teachers Retirement System increased its position in 10x Genomics by 3,700.4% in the second quarter. California State Teachers Retirement System now owns 4,679,895 shares of the company’s stock worth $179,427,000 after buying an additional 4,556,753 shares in the last quarter. HB Wealth Management LLC bought a new position in shares of 10x Genomics in the second quarter worth about $285,000. Three Seasons Wealth LLC purchased a new position in shares of 10x Genomics during the 2nd quarter valued at about $208,000. Finally, Concurrent Investment Advisors LLC purchased a new position in shares of 10x Genomics during the 2nd quarter valued at about $213,000. 84.68% of the stock is owned by institutional investors.

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.