10x Genomics (NASDAQ:TXG) CEO Serge Saxonov Sells 10,486 Shares

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 10,486 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $63.69, for a total value of $667,853.34. Following the sale, the chief executive officer owned 1,075,349 shares of the company’s stock, valued at approximately $68,488,977.81. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Monday, August 24th, Serge Saxonov sold 18,545 shares of 10x Genomics stock. The shares were sold at an average price of $63.02, for a total value of $1,168,705.90.
• On Monday, June 22nd, Serge Saxonov sold 30,000 shares of 10x Genomics stock. The shares were sold at an average price of $34.44, for a total value of $1,033,200.00.

10x Genomics Price Performance

Shares of NASDAQ:TXG opened at $61.54 on Friday. 10x Genomics has a 1 year low of $11.16 and a 1 year high of $66.94. The firm has a market capitalization of $8.02 billion, a PE ratio of -104.30 and a beta of 2.03. The business’s 50 day moving average price is $48.16 and its 200-day moving average price is $31.83.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Leerink Partners raised their price target on shares of 10x Genomics from $23.00 to $40.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Piper Sandler upped their price objective on shares of 10x Genomics from $42.00 to $47.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Citigroup increased their price objective on shares of 10x Genomics from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, August 7th. TD Cowen reissued a “hold” rating on shares of 10x Genomics in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. boosted their target price on 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $38.31.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Elevation Wealth Partners LLC boosted its position in shares of 10x Genomics by 332.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock valued at $57,000 after acquiring an additional 1,143 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in 10x Genomics during the fourth quarter worth about $38,000. Larson Financial Group LLC increased its position in 10x Genomics by 164.4% during the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock worth $39,000 after purchasing an additional 1,470 shares during the last quarter. Fifth Third Bancorp purchased a new position in 10x Genomics during the first quarter worth about $50,000. Finally, Nykredit A S purchased a new position in 10x Genomics during the second quarter worth about $126,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.