Insider Selling: 10x Genomics (NASDAQ:TXG) CEO Sells $667,853.34 in Stock

Key Points

• CEO Serge Saxonov sold 10,486 shares of 10x Genomics at an average price of $63.69, generating $667,853.34; he retained 1,075,349 shares after the transaction.
• TXG shares traded at $61.54, near their 12-month high of $66.94, with an $8.02 billion market capitalization. The company beat quarterly revenue and EPS expectations, but revenue fell 12.7% year over year and profitability remained negative.
• Analysts collectively rate the stock “Hold,” with an average price target of $38.31, while institutional investors own 84.68% of the company’s shares.

10x Genomics (NASDAQ:TXG - Get Free Report) CEO Serge Saxonov sold 10,486 shares of the business's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $63.69, for a total transaction of $667,853.34. Following the sale, the chief executive officer directly owned 1,075,349 shares in the company, valued at approximately $68,488,977.81. The trade was a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $63.02, for a total transaction 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 Performance

Shares of TXG traded down $3.31 during trading hours on Friday, reaching $61.54. The stock had a trading volume of 2,360,727 shares, compared to its average volume of 3,311,234. 10x Genomics has a 12 month low of $11.16 and a 12 month high of $66.94. The stock has a market capitalization of $8.02 billion, a PE ratio of -104.30 and a beta of 2.03. The company's 50-day moving average is $47.62 and its two-hundred day moving average is $31.62.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $151.04 million for the quarter, compared to analyst estimates of $146.67 million. During the same quarter in the previous year, the company posted $0.28 EPS. 10x Genomics's quarterly revenue was down 12.7% compared to the same quarter last year. Equities analysts anticipate that 10x Genomics will post -0.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TXG shares. Zacks Research lowered shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. JPMorgan Chase & Co. increased their price objective on 10x Genomics from $17.00 to $20.00 and gave the company a "neutral" rating in a report on Tuesday, May 12th. Leerink Partners raised their target price on 10x Genomics from $23.00 to $40.00 and gave the stock a "market perform" rating in a research report on Friday, July 17th. Stifel Nicolaus set a $50.00 target price on 10x Genomics in a report on Friday, August 7th. Finally, Barclays lifted their target price on 10x Genomics from $30.00 to $40.00 and gave the stock an "overweight" rating in a report on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $38.31.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TXG. California State Teachers Retirement System boosted its stake in shares of 10x Genomics by 3,700.4% in the 2nd quarter. California State Teachers Retirement System now owns 4,679,895 shares of the company's stock valued at $179,427,000 after purchasing an additional 4,556,753 shares during the last quarter. AQR Capital Management LLC lifted its holdings in 10x Genomics by 241.3% in the second quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company's stock valued at $47,916,000 after buying an additional 2,925,372 shares during the period. Millennium Management LLC lifted its holdings in 10x Genomics by 84.7% in the third 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 during the period. Wellington Management Group LLP lifted its holdings in 10x Genomics by 126.6% in the third quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company's stock valued at $50,099,000 after buying an additional 2,394,355 shares during the period. Finally, Quantinno Capital Management LP boosted its position in 10x Genomics by 207.2% during the second quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company's stock valued at $25,864,000 after acquiring an additional 1,506,530 shares during the last quarter. Institutional investors own 84.68% of the company's stock.

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.

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