Serge Saxonov Sells 10,486 Shares of 10x Genomics (NASDAQ:TXG) Stock

10x Genomics (NASDAQ:TXG) CEO Serge Saxonov sold 10,486 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $63.69, for a total value of $667,853.34. Following the sale, the chief executive officer directly owned 1,075,349 shares of the company’s stock, valued at approximately $68,488,977.81. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, August 24th, Serge Saxonov sold 18,545 shares of 10x Genomics stock. The shares were sold at an average price of $63.02, for a total value of $1,168,705.90.
• On Monday, June 22nd, Serge Saxonov sold 30,000 shares of 10x Genomics stock. The shares were sold at an average price of $34.44, for a total value of $1,033,200.00.

10x Genomics Stock Down 5.1%

NASDAQ:TXG opened at $61.54 on Friday. The stock has a fifty day simple moving average of $48.16 and a 200 day simple moving average of $31.83. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of -104.30 and a beta of 2.03. 10x Genomics has a 1-year low of $11.16 and a 1-year high of $66.94.

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

Institutional Investors Weigh In On 10x Genomics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC raised its holdings in shares of 10x Genomics by 332.3% during the second quarter. Elevation Wealth Partners LLC now owns 1,487 shares of the company’s stock worth $57,000 after acquiring an additional 1,143 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in 10x Genomics in the fourth quarter valued at about $38,000. Larson Financial Group LLC increased its position in 10x Genomics by 164.4% in the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock worth $39,000 after purchasing an additional 1,470 shares during the last quarter. Fifth Third Bancorp acquired a new position in 10x Genomics in the 1st quarter worth about $50,000. Finally, Nykredit A S purchased a new stake in shares of 10x Genomics during the 2nd quarter worth about $126,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Piper Sandler raised their price objective on shares of 10x Genomics from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Stifel Nicolaus set a $50.00 target price on 10x Genomics in a report on Friday, August 7th. Citigroup raised their target price on 10x Genomics from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, August 7th. Canaccord Genuity Group lifted their price target on 10x Genomics from $50.00 to $60.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, TD Cowen reissued a “hold” rating on shares of 10x Genomics in a research report on Wednesday, July 15th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $38.31.

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.