10x Genomics, Inc. (NASDAQ:TXG) CEO Serge Saxonov Sells 9,343 Shares

10x Genomics, Inc. (NASDAQ:TXG - Get Free Report) CEO Serge Saxonov sold 9,343 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $77,546.90. Following the completion of the transaction, the chief executive officer now directly owns 1,083,625 shares in the company, valued at approximately $8,994,087.50. This represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

10x Genomics Stock Performance

TXG traded up $0.15 during mid-day trading on Friday, reaching $9.49. 4,649,181 shares of the stock were exchanged, compared to its average volume of 2,417,694. 10x Genomics, Inc. has a 1 year low of $6.78 and a 1 year high of $24.76. The stock has a market capitalization of $1.17 billion, a PE ratio of -6.24 and a beta of 1.94. The company has a 50 day moving average price of $8.47 and a two-hundred day moving average price of $11.88.

10x Genomics (NASDAQ:TXG - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share for the quarter, beating analysts' consensus estimates of ($0.45) by $0.09. 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. The company had revenue of $154.88 million for the quarter, compared to analyst estimates of $131.91 million. During the same period last year, the firm earned ($0.50) earnings per share. The firm's revenue was down 2.3% on a year-over-year basis. Sell-side analysts expect that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on TXG. Stephens reissued an "overweight" rating and set a $14.00 target price on shares of 10x Genomics in a research note on Thursday, May 15th. Citigroup reduced their price target on 10x Genomics from $20.00 to $15.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Stifel Nicolaus decreased their price objective on shares of 10x Genomics from $21.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, February 13th. Canaccord Genuity Group cut their price target on 10x Genomics from $18.00 to $15.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Finally, Morgan Stanley cut their price objective on shares of 10x Genomics from $26.00 to $18.00 and set an "overweight" rating on the stock in a research report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, 10x Genomics has a consensus rating of "Hold" and a consensus price target of $15.81.

Hedge Funds Weigh In On 10x Genomics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its holdings in 10x Genomics by 0.6% during the fourth quarter. FMR LLC now owns 13,454,434 shares of the company's stock worth $193,206,000 after acquiring an additional 86,455 shares during the period. ARK Investment Management LLC increased its position in shares of 10x Genomics by 7.5% during the 1st quarter. ARK Investment Management LLC now owns 12,845,713 shares of the company's stock valued at $112,143,000 after purchasing an additional 901,656 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of 10x Genomics by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 11,118,086 shares of the company's stock worth $97,061,000 after purchasing an additional 184,537 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of 10x Genomics by 235.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,103,768 shares of the company's stock worth $62,016,000 after purchasing an additional 4,987,195 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of 10x Genomics by 434.5% in the 1st quarter. Millennium Management LLC now owns 5,377,492 shares of the company's stock worth $46,946,000 after buying an additional 4,371,327 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company's stock.

About 10x Genomics

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.