Serge Saxonov Sells 10,718 Shares of 10x Genomics (NASDAQ:TXG) Stock

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 10,718 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $24.71, for a total transaction of $264,841.78. Following the transaction, the chief executive officer owned 1,138,380 shares in the company, valued at $28,129,369.80. The trade was a 0.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 shares were 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 shares were 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 shares were 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 shares were sold at an average price of $19.13, for a total transaction of $191,300.00.

10x Genomics Stock Up 9.7%

10x Genomics stock opened at $27.99 on Friday. The firm’s fifty day moving average is $22.23 and its 200 day moving average is $19.98. 10x Genomics has a 12-month low of $8.81 and a 12-month high of $28.17. The company has a market capitalization of $3.55 billion, a PE ratio of -164.65 and a beta of 2.05.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) earnings per share for the quarter, topping 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 firm had revenue of $150.84 million for the quarter, compared to the consensus estimate of $146.41 million. During the same quarter in the prior year, the company posted ($0.28) earnings per share. The business’s revenue was up 9.4% on a year-over-year basis. Sell-side analysts expect that 10x Genomics will post -0.82 EPS for the current fiscal year.

Institutional Trading of 10x Genomics

Several institutional investors have recently made changes to their positions in the company. Edgestream Partners L.P. bought a new stake in shares of 10x Genomics in the 1st quarter worth $1,233,000. Bull Harbor Capital LLC bought a new stake in shares of 10x Genomics in the 1st quarter worth $248,000. EverSource Wealth Advisors LLC grew its stake in shares of 10x Genomics by 16.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 7,186 shares of the company’s stock worth $153,000 after acquiring an additional 1,012 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of 10x Genomics by 3.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 49,048 shares of the company’s stock worth $1,041,000 after acquiring an additional 1,661 shares in the last quarter. Finally, Quantinno Capital Management LP grew its stake in shares of 10x Genomics by 16.0% in the 1st quarter. Quantinno Capital Management LP now owns 5,411,761 shares of the company’s stock worth $114,892,000 after acquiring an additional 744,558 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

Analyst Ratings Changes

TXG has been the topic of several research reports. Stifel Nicolaus upped their price objective on shares of 10x Genomics from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Citigroup upped their price objective on shares of 10x Genomics from $18.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, April 7th. UBS Group upped their price objective on shares of 10x Genomics from $14.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, February 20th. Zacks Research downgraded shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of 10x Genomics from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target 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.