10x Genomics (NASDAQ:TXG) Stock: Insider Serge Saxonov Sells 31,000 Shares

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 31,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $62.90, for a total transaction of $1,949,900.00. Following the sale, the chief executive officer directly owned 1,019,249 shares of the company’s stock, valued at approximately $64,110,762.10. This trade represents a 2.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, September 22nd, Serge Saxonov sold 25,000 shares of 10x Genomics stock. The shares were sold at an average price of $81.22, for a total transaction of $2,030,500.00.
• On Wednesday, August 26th, Serge Saxonov sold 10,486 shares of 10x Genomics stock. The shares were sold at an average price of $63.69, for a total transaction of $667,853.34.
• 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.

10x Genomics Trading Down 1.5%

NASDAQ TXG traded down $0.91 on Friday, hitting $58.19. 2,122,971 shares of the company were exchanged, compared to its average volume of 3,020,785. The company has a market cap of $7.58 billion, a PE ratio of -111.90 and a beta of 2.03. 10x Genomics has a 12 month low of $15.12 and a 12 month high of $102.81. The stock has a fifty day moving average of $74.02 and a 200-day moving average of $42.38.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.12. 10x Genomics had a negative net margin of 10.84% and a negative return on equity of 8.19%. The business had revenue of $150.67 million during the quarter, compared to analysts’ expectations of $147.96 million. During the same period last year, the company posted ($0.22) earnings per share. The business’s quarterly revenue was up 1.1% on a year-over-year basis. On average, analysts expect that 10x Genomics will post -0.74 earnings per share for the current year.

Analysts Set New Price Targets

TXG has been the subject of several research reports. Leerink Partners raised their target price on 10x Genomics from $40.00 to $90.00 and gave the company a “market perform” rating in a research note on Tuesday, September 29th. UBS Group dropped their price target on 10x Genomics from $90.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, November 6th. Stephens lowered 10x Genomics from an “overweight” rating to an “equal weight” rating in a report on Friday, October 23rd. Royal Bank Of Canada started coverage on 10x Genomics in a research note on Tuesday, September 1st. They issued a “sector perform” rating and a $70.00 price objective for the company. Finally, Argus initiated coverage on 10x Genomics in a research note on Monday, September 28th. They issued a “buy” rating and a $110.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $68.40.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Quantinno Capital Management LP lifted its position in 10x Genomics by 16.0% in the 1st quarter. Quantinno Capital Management LP now owns 5,411,761 shares of the company’s stock valued at $114,892,000 after acquiring an additional 744,558 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in 10x Genomics by 34.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,042,950 shares of the company’s stock valued at $43,357,000 after purchasing an additional 525,369 shares during the last quarter. First Trust Advisors LP boosted its stake in 10x Genomics by 8.8% during the 3rd quarter. First Trust Advisors LP now owns 451,226 shares of the company’s stock valued at $40,773,000 after purchasing an additional 36,332 shares during the last quarter. Voya Investment Management LLC increased its holdings in 10x Genomics by 6.2% during the 3rd quarter. Voya Investment Management LLC now owns 130,595 shares of the company’s stock worth $11,801,000 after purchasing an additional 7,680 shares in the last quarter. Finally, USS Investment Management Ltd bought a new stake in 10x Genomics during the 3rd quarter worth approximately $11,716,000. 84.68% of the stock is owned by institutional investors.

10x Genomics Company Profile

10x Genomics, Inc. develops technology for studying biological systems at single-cell and spatial resolution. Its instruments, consumables and software help researchers analyze gene expression and other features of cells while preserving information about their location within tissue. The company’s product platforms include Chromium for single-cell analysis, Visium for spatial gene-expression analysis and Xenium for in situ analysis of gene activity within tissue samples. Its tools are used in areas such as immunology, neuroscience, cancer research and drug discovery.