10x Genomics (NASDAQ:TXG) CEO Sells $264,841.78 in Stock

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 10,718 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $24.71, for a total transaction of $264,841.78. Following the completion of the transaction, the chief executive officer directly owned 1,138,380 shares of the company’s stock, valued at approximately $28,129,369.80. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 Friday, May 22nd, Serge Saxonov sold 18,175 shares of 10x Genomics stock. The stock was sold at an average price of $24.44, for a total transaction 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 transaction of $122,800.00.
• On Tuesday, March 24th, Serge Saxonov sold 5,000 shares of 10x Genomics stock. The stock was sold at an average price of $19.52, for a total transaction of $97,600.00.
• On Monday, March 23rd, Serge Saxonov sold 10,000 shares of 10x Genomics stock. The stock was sold at an average price of $19.13, for a total transaction of $191,300.00.

10x Genomics Trading Up 1.1%

Shares of NASDAQ TXG opened at $28.31 on Friday. The firm has a market cap of $3.59 billion, a PE ratio of -166.53 and a beta of 2.05. 10x Genomics has a 1-year low of $8.81 and a 1-year high of $28.86. The company has a fifty day moving average price of $22.45 and a 200 day moving average price of $20.03.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Thursday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.19. The firm had revenue of $150.84 million during the quarter, compared to analyst estimates of $146.41 million. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.28) EPS. Equities research analysts forecast that 10x Genomics will post -0.82 EPS for the current year.

Institutional Investors Weigh In On 10x Genomics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TXG. Royal Bank of Canada lifted its position 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 buying an additional 162,665 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in 10x Genomics by 163.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 645,366 shares of the company’s stock worth $5,634,000 after buying an additional 400,430 shares in the last quarter. Focus Partners Wealth bought a new stake in 10x Genomics during the 1st quarter worth about $92,000. Legal & General Group Plc lifted its position in 10x Genomics by 5.7% during the 2nd quarter. Legal & General Group Plc now owns 110,864 shares of the company’s stock worth $1,284,000 after buying an additional 5,985 shares in the last quarter. Finally, American Century Companies Inc. bought a new stake in 10x Genomics during the 2nd quarter worth about $933,000. 84.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TXG has been the subject of a number of research analyst reports. UBS Group upped their target price on shares of 10x Genomics from $14.00 to $20.00 and gave the stock a “neutral” rating in a research note on Friday, February 20th. JPMorgan Chase & Co. upped their target price on shares of 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. TD Cowen boosted their price target on shares of 10x Genomics from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Friday, February 13th. Bank of America boosted their price target on shares of 10x Genomics from $21.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Finally, Barclays boosted their price target on shares of 10x Genomics from $22.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 14th. Four research 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 presently has a consensus rating of “Hold” and a consensus target price of $23.17.

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.