10x Genomics (NASDAQ:TXG) Stock: Insider Serge Saxonov Sells 25,000 Shares

Key Points

• CEO Serge Saxonov sold 25,000 TXG shares at an average price of $81.22, generating approximately $2.03 million. He retained 1,050,249 shares after the transaction; he also sold shares in August.
• 10x Genomics shares rose 11.2% to $84.11, near their 12-month high of $85.93, despite the company reporting a 12.7% year-over-year revenue decline in its latest quarter.
• Analysts have a consensus “Hold” rating and an average price target of $44, well below the current share price; institutional investors own approximately 84.68% of the stock.

10x Genomics (NASDAQ:TXG - Get Free Report) CEO Serge Saxonov sold 25,000 shares of the business's stock in a transaction on Tuesday, September 22nd. The shares were sold at an average price of $81.22, for a total value of $2,030,500.00. Following the completion of the sale, the chief executive officer owned 1,050,249 shares of the company's stock, valued at $85,301,223.78. This trade represents a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, August 26th, Serge Saxonov sold 10,486 shares of 10x Genomics stock. The shares were sold at an average price of $63.69, for a total value of $667,853.34.
• On Monday, August 24th, Serge Saxonov sold 18,545 shares of 10x Genomics stock. The stock was sold at an average price of $63.02, for a total value of $1,168,705.90.

10x Genomics Stock Up 11.2%

Shares of TXG traded up $8.49 during midday trading on Thursday, reaching $84.11. 4,085,290 shares of the stock were exchanged, compared to its average volume of 2,877,569. The stock's 50 day simple moving average is $59.11 and its 200 day simple moving average is $38.16. The company has a market cap of $10.96 billion, a P/E ratio of -142.56 and a beta of 2.08. 10x Genomics has a twelve month low of $11.16 and a twelve month high of $85.93.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TXG. Barclays boosted their price target on 10x Genomics from $30.00 to $40.00 and gave the company an "overweight" rating in a research note on Wednesday, June 24th. Royal Bank Of Canada started coverage on 10x Genomics in a report on Tuesday, September 1st. They issued a "sector perform" rating and a $70.00 price objective for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of 10x Genomics in a research report on Monday. UBS Group assumed coverage on 10x Genomics in a report on Wednesday, September 9th. They set a "neutral" rating and a $68.00 target price on the stock. Finally, TD Cowen restated a "hold" rating on shares of 10x Genomics in a research report on Wednesday, July 15th. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $44.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TXG. Arizona State Retirement System boosted its holdings in shares of 10x Genomics by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 29,223 shares of the company's stock worth $1,120,000 after buying an additional 430 shares during the last quarter. Intech Investment Management LLC grew its position in 10x Genomics by 1.4% during the fourth quarter. Intech Investment Management LLC now owns 40,047 shares of the company's stock valued at $653,000 after buying an additional 567 shares during the period. EverSource Wealth Advisors LLC increased its holdings in 10x Genomics by 16.4% during the first quarter. EverSource Wealth Advisors LLC now owns 7,186 shares of the company's stock worth $153,000 after buying an additional 1,012 shares during the last quarter. Kera Capital Partners Inc. increased its holdings in 10x Genomics by 2.3% during the first quarter. Kera Capital Partners Inc. now owns 48,937 shares of the company's stock worth $1,039,000 after buying an additional 1,108 shares during the last quarter. Finally, Elevation Wealth Partners LLC raised its position in 10x Genomics by 332.3% in 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 during the period. Institutional investors and hedge funds own 84.68% of the company's stock.

About 10x Genomics

10x Genomics, Inc develops life science technology for analyzing biological systems at the single-cell and spatial levels. Its platforms are designed to help researchers study gene expression, genetic variation, cell populations and tissue organization with greater detail than conventional laboratory methods.

The company's product portfolio includes the Chromium platform for single-cell analysis, Visium solutions for spatial transcriptomics and tissue profiling, and Xenium in situ platforms for high-resolution analysis of RNA and other biological features within tissue samples.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.