10x Genomics (NASDAQ:TXG) CEO Serge Saxonov Sells 18,545 Shares of Stock

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 18,545 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $63.02, for a total transaction of $1,168,705.90. Following the completion of the transaction, the chief executive officer directly owned 1,085,835 shares in the company, valued at $68,429,321.70. This represents a 1.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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 Monday, June 22nd, Serge Saxonov sold 30,000 shares of 10x Genomics stock. The stock was sold at an average price of $34.44, for a total transaction of $1,033,200.00.

10x Genomics Stock Down 0.7%

Shares of NASDAQ:TXG opened at $64.26 on Thursday. The company has a market cap of $8.37 billion, a price-to-earnings ratio of -108.91 and a beta of 2.03. The firm’s 50-day simple moving average is $47.02 and its 200-day simple moving average is $31.29. 10x Genomics has a fifty-two week low of $11.16 and a fifty-two week high of $66.94.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. The business had revenue of $151.04 million for the quarter, compared to analyst estimates of $146.67 million. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The business’s revenue was down 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 earnings per share. On average, research analysts forecast that 10x Genomics will post -0.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on TXG shares. Citigroup increased their target price on 10x Genomics from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a research note on Wednesday, June 24th. Morgan Stanley upped their price objective on 10x Genomics from $37.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, August 7th. Canaccord Genuity Group increased their price objective on 10x Genomics from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Finally, Piper Sandler raised their target price on 10x Genomics from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Five 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $38.31.

10x Genomics News Summary

Here are the key news stories impacting 10x Genomics this week:

• Neutral Sentiment: CEO Serge Saxonov, CFO Adam Taich and insider Benjamin J. Hindson collectively sold approximately $3.12 million of TXG shares. Each sale was made to cover tax-withholding obligations tied to vested equity awards, which makes the transactions less bearish than discretionary open-market selling. The executives retained substantial positions after the sales. CEO insider sale SEC filing CFO insider sale SEC filing Insider sale SEC filing
• Neutral Sentiment: Director Shehnaaz Suliman sold 2,207 shares worth approximately $140,476, reducing her ownership by 6.96%. Unlike the executive transactions, the filing does not identify tax withholding as the reason for the sale, creating a modestly more cautious signal. Director insider sale SEC filing
• Neutral Sentiment: Reported short interest was zero shares as of August 25, unchanged from the prior report. This produces a zero-day short ratio, but the figure is likely a data-reporting anomaly and provides little actionable insight into TXG’s trading outlook.

Institutional Investors Weigh In On 10x Genomics

Several institutional investors have recently modified their holdings of the company. Royal Bank of Canada raised its holdings in 10x Genomics by 806.4% during the first quarter. Royal Bank of Canada now owns 182,836 shares of the company’s stock worth $1,597,000 after purchasing an additional 162,665 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in 10x Genomics by 163.5% in the first quarter. Goldman Sachs Group Inc. now owns 645,366 shares of the company’s stock valued at $5,634,000 after purchasing an additional 400,430 shares during the last quarter. Focus Partners Wealth acquired a new stake in 10x Genomics in the first quarter valued at $92,000. Legal & General Group Plc increased its position in shares of 10x Genomics by 5.7% in the second quarter. Legal & General Group Plc now owns 110,864 shares of the company’s stock valued at $1,284,000 after buying an additional 5,985 shares in the last quarter. Finally, American Century Companies Inc. purchased a new position in shares of 10x Genomics in the second quarter valued at $933,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.