Insider Selling: 10x Genomics (NASDAQ:TXG) CEO Sells 30,000 Shares of Stock

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $34.44, for a total value of $1,033,200.00. Following the completion of the transaction, the chief executive officer owned 1,108,380 shares in the company, valued at $38,172,607.20. The trade was a 2.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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 Friday, May 22nd, Serge Saxonov sold 18,175 shares of 10x Genomics stock. The stock was sold at an average price of $24.44, for a total value of $444,197.00.
• On Tuesday, April 14th, Serge Saxonov sold 5,000 shares of 10x Genomics stock. The stock was sold at an average price of $24.56, for a total value of $122,800.00.

10x Genomics Stock Performance

NASDAQ:TXG traded up $2.71 during trading on Wednesday, reaching $34.58. The company’s stock had a trading volume of 2,585,887 shares, compared to its average volume of 2,763,459. 10x Genomics has a 12 month low of $10.63 and a 12 month high of $36.59. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of -203.41 and a beta of 2.12. The firm has a 50 day moving average of $25.98 and a 200-day moving average of $21.73.

10x Genomics (NASDAQ:TXG) last released its earnings results on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.19. The company had revenue of $150.84 million for the quarter, compared to analysts’ expectations of $146.41 million. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.28) EPS. Equities research analysts forecast that 10x Genomics will post -0.79 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TXG shares. Canaccord Genuity Group boosted their target price on shares of 10x Genomics from $22.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Morgan Stanley raised their price target on shares of 10x Genomics from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Bank of America lifted their price target on shares of 10x Genomics from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, April 20th. Stifel Nicolaus upped their price objective on 10x Genomics from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of 10x Genomics in a report on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, 10x Genomics presently has an average rating of “Hold” and an average target price of $24.00.

Institutional Investors Weigh In On 10x Genomics

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in 10x Genomics by 6.7% during the third quarter. Vanguard Group Inc. now owns 13,274,332 shares of the company’s stock worth $155,177,000 after purchasing an additional 834,272 shares during the period. ARK Investment Management LLC raised its position in shares of 10x Genomics by 6.6% in the fourth quarter. ARK Investment Management LLC now owns 12,667,369 shares of the company’s stock valued at $206,605,000 after purchasing an additional 779,973 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its position in shares of 10x Genomics by 2.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,492,189 shares of the company’s stock valued at $89,578,000 after purchasing an additional 110,970 shares during the period. Amova Asset Management Americas Inc. lifted its stake in shares of 10x Genomics by 2.0% during 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. Finally, Millennium Management LLC lifted its stake in shares of 10x Genomics by 84.7% during the 3rd quarter. Millennium Management LLC now owns 5,437,969 shares of the company’s stock valued at $63,570,000 after buying an additional 2,494,142 shares in the last quarter. 84.68% of the stock is owned by hedge funds and other institutional investors.

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.