10x Genomics (NASDAQ:TXG) CEO Serge Saxonov Sells 10,000 Shares

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 10,000 shares of the business’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $19.13, for a total transaction of $191,300.00. Following the completion of the sale, the chief executive officer owned 1,177,273 shares of the company’s stock, valued at $22,521,232.49. The trade was a 0.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• 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, February 23rd, Serge Saxonov sold 9,632 shares of 10x Genomics stock. The stock was sold at an average price of $18.58, for a total transaction of $178,962.56.

10x Genomics Trading Up 5.6%

10x Genomics stock traded up $1.10 on Wednesday, reaching $20.91. 2,734,255 shares of the stock were exchanged, compared to its average volume of 2,661,438. The stock has a market cap of $2.67 billion, a PE ratio of -59.74 and a beta of 2.20. 10x Genomics has a twelve month low of $6.78 and a twelve month high of $23.56. The firm has a fifty day moving average price of $20.04 and a two-hundred day moving average price of $16.83.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.06. The company had revenue of $166.03 million for the quarter, compared to the consensus estimate of $160.35 million. 10x Genomics had a negative return on equity of 6.89% and a negative net margin of 6.77%.The firm’s revenue was up .6% compared to the same quarter last year. During the same period last year, the business posted ($0.40) earnings per share. Equities analysts anticipate that 10x Genomics will post -1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of 10x Genomics by 6.7% in the 3rd quarter. Vanguard Group Inc. now owns 13,274,332 shares of the company’s stock valued at $155,177,000 after purchasing an additional 834,272 shares during the period. ARK Investment Management LLC lifted its position in shares of 10x Genomics by 6.6% during the 4th quarter. ARK Investment Management LLC now owns 12,667,369 shares of the company’s stock worth $206,605,000 after buying an additional 779,973 shares during the period. Nikko Asset Management Americas Inc. lifted its position in shares of 10x Genomics by 12.1% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 6,009,653 shares of the company’s stock worth $69,532,000 after buying an additional 646,997 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its stake in 10x Genomics by 2.1% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,492,189 shares of the company’s stock valued at $89,578,000 after buying an additional 110,970 shares in the last quarter. Finally, Amova Asset Management Americas Inc. boosted its stake in 10x Genomics by 2.0% in the 4th quarter. Amova Asset Management Americas Inc. now owns 5,486,153 shares of the company’s stock valued at $89,424,000 after buying an additional 109,270 shares in the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 price target (up from $17.00) on shares of 10x Genomics in a research report on Monday, December 1st. TD Cowen increased their price objective on 10x Genomics from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Friday, February 13th. Stifel Nicolaus raised their price objective on shares of 10x Genomics from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. UBS Group boosted their target price on shares of 10x Genomics from $14.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, February 20th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a research note on Monday, December 22nd. Four research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, 10x Genomics presently has a consensus rating of “Hold” and a consensus target price of $18.46.

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.