Serge Saxonov Sells 18,175 Shares of 10x Genomics (NASDAQ:TXG) Stock

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 18,175 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $24.44, for a total transaction of $444,197.00. Following the completion of the sale, the chief executive officer owned 1,149,098 shares of the company’s stock, valued at approximately $28,083,955.12. The trade was a 1.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $24.71, for a total transaction of $264,841.78.
• 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 transaction 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 Up 9.7%

TXG stock opened at $27.99 on Friday. The firm has a market cap of $3.55 billion, a PE ratio of -164.65 and a beta of 2.05. The business has a 50 day moving average of $22.23 and a 200-day moving average of $19.98. 10x Genomics has a 12-month low of $8.81 and a 12-month high of $28.17.

10x Genomics (NASDAQ:TXG) last released its 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. The company had revenue of $150.84 million during the quarter, compared to analyst estimates of $146.41 million. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.10x Genomics’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted ($0.28) earnings per share. On average, research analysts expect that 10x Genomics will post -0.82 earnings per share for the current year.

Hedge Funds Weigh In On 10x Genomics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC bought a new position in 10x Genomics in the 3rd quarter worth about $665,000. AlphaQuest LLC increased its position in shares of 10x Genomics by 234.3% during the third quarter. AlphaQuest LLC now owns 133,419 shares of the company’s stock valued at $1,560,000 after buying an additional 93,514 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of 10x Genomics during the third quarter valued at about $1,179,000. JPMorgan Chase & Co. increased its position in shares of 10x Genomics by 777.6% during the third quarter. JPMorgan Chase & Co. now owns 1,073,865 shares of the company’s stock valued at $12,553,000 after buying an additional 951,495 shares during the period. Finally, Principal Financial Group Inc. bought a new position in shares of 10x Genomics in the third quarter valued at approximately $1,896,000. Institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TXG. Citigroup increased their price target on shares of 10x Genomics from $18.00 to $24.00 and gave the company a “neutral” rating in a research report on Tuesday, April 7th. Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a research report on Friday, March 27th. UBS Group increased their price target on shares of 10x Genomics from $14.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, February 20th. Morgan Stanley increased their price target on shares of 10x Genomics from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 12th. Finally, Barclays increased their price objective on 10x Genomics from $22.00 to $30.00 and gave the company an “overweight” rating in a report on Tuesday, April 14th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $23.17.

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.