10x Genomics, Inc. (NASDAQ:TXG) CEO Sells $77,546.90 in Stock

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

10x Genomics Stock Up 1.6%

NASDAQ:TXG traded up $0.15 during midday trading on Friday, hitting $9.49. The company had a trading volume of 4,649,181 shares, compared to its average volume of 2,426,523. 10x Genomics, Inc. has a 52-week low of $6.78 and a 52-week high of $24.76. The stock's fifty day moving average price is $8.46 and its 200-day moving average price is $11.80. The company has a market capitalization of $1.17 billion, a PE ratio of -6.24 and a beta of 1.94.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $131.91 million. During the same period in the previous year, the business earned ($0.50) earnings per share. The firm's quarterly revenue was down 2.3% compared to the same quarter last year. As a group, research analysts forecast that 10x Genomics, Inc. will post -1.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its position in 10x Genomics by 0.6% in 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 in the last quarter. ARK Investment Management LLC boosted its position in 10x Genomics by 7.5% during the first quarter. ARK Investment Management LLC now owns 12,845,713 shares of the company's stock valued at $112,143,000 after buying an additional 901,656 shares during the period. Vanguard Group Inc. boosted its position in 10x Genomics by 1.7% during the first quarter. Vanguard Group Inc. now owns 11,118,086 shares of the company's stock valued at $97,061,000 after buying an additional 184,537 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in 10x Genomics by 235.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,103,768 shares of the company's stock valued at $62,016,000 after buying an additional 4,987,195 shares during the period. Finally, Millennium Management LLC boosted its position in 10x Genomics by 434.5% during the first quarter. Millennium Management LLC now owns 5,377,492 shares of the company's stock valued at $46,946,000 after buying an additional 4,371,327 shares during the period. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TXG shares. JPMorgan Chase & Co. lowered their target price on shares of 10x Genomics from $12.00 to $9.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Wall Street Zen raised shares of 10x Genomics from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Citigroup reduced their price target on shares of 10x Genomics from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Morgan Stanley reduced their price target on shares of 10x Genomics from $26.00 to $18.00 and set an "overweight" rating for the company in a research report on Monday, May 19th. Finally, Canaccord Genuity Group reduced their price target on shares of 10x Genomics from $18.00 to $15.00 and set a "buy" rating for the company in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $15.81.

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.