Insider Selling: 10x Genomics (NASDAQ:TXG) CEO Sells $444,197.00 in Stock

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 18,175 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $24.44, for a total value of $444,197.00. Following the completion of the sale, the chief executive officer owned 1,149,098 shares in the company, valued at $28,083,955.12. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 Tuesday, May 26th, Serge Saxonov sold 10,718 shares of 10x Genomics stock. The shares were sold at an average price of $24.71, for a total value of $264,841.78.
• 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 value 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 value 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 value of $191,300.00.

10x Genomics Stock Performance

Shares of TXG opened at $28.31 on Friday. 10x Genomics has a 52-week low of $8.81 and a 52-week high of $28.86. The business’s 50 day moving average price is $22.45 and its two-hundred day moving average price is $20.03. The firm has a market cap of $3.59 billion, a PE ratio of -166.53 and a beta of 2.05.

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

Hedge Funds Weigh In On 10x Genomics

A number of institutional investors have recently modified their holdings of TXG. Geneos Wealth Management Inc. acquired a new position in shares of 10x Genomics during the fourth quarter worth approximately $38,000. Larson Financial Group LLC raised its position in shares of 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 period. Fifth Third Bancorp acquired a new position in shares of 10x Genomics during the first quarter worth approximately $50,000. Abich Financial Wealth Management LLC acquired a new position in shares of 10x Genomics during the third quarter worth approximately $56,000. Finally, Van ECK Associates Corp raised its position in shares of 10x Genomics by 85.9% during the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock worth $60,000 after purchasing an additional 1,695 shares during the period. 84.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on TXG shares. Stifel Nicolaus boosted their price target on 10x Genomics from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Morgan Stanley boosted their price target on 10x Genomics from $20.00 to $22.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 12th. Citigroup boosted their price target on 10x Genomics from $18.00 to $24.00 and gave the company a “neutral” rating in a research note on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft set a $17.00 price target on 10x Genomics and gave the company a “hold” rating in a research note on Friday, February 13th. Finally, Canaccord Genuity Group boosted their price target on 10x Genomics from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Four equities 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.com, the company presently has an average rating of “Hold” and an average target price of $23.17.

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.