Insider Selling: 10x Genomics (NASDAQ:TXG) CEO Sells 5,000 Shares of Stock

Key Points

• CEO Serge Saxonov sold 5,000 shares on April 14 at an average price of $24.56 for $122,800, trimming his stake by 0.43% to 1,167,273 shares — part of a recent pattern of insider sales (5,000 on Mar 24, 10,000 on Mar 23, 9,632 on Feb 23).
• 10x Genomics shares trade around $25.24 (1‑year high $25.69) with a $3.22B market cap; analysts’ consensus is a "Hold" with an average price target of $19.46, and the company recently beat quarterly EPS estimates (‑$0.13 vs. ‑$0.19) with $166.0M in revenue.

10x Genomics (NASDAQ:TXG - Get Free Report) CEO Serge Saxonov sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $24.56, for a total transaction of $122,800.00. Following the sale, the chief executive officer owned 1,167,273 shares of the company's stock, valued at $28,668,224.88. This represents a 0.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, March 24th, Serge Saxonov sold 5,000 shares of 10x Genomics stock. The stock was sold at an average price of $19.52, for a total transaction of $97,600.00.
• On Monday, March 23rd, Serge Saxonov sold 10,000 shares of 10x Genomics stock. The stock was sold at an average price of $19.13, for a total transaction of $191,300.00.
• On Monday, February 23rd, Serge Saxonov sold 9,632 shares of 10x Genomics stock. The stock was sold at an average price of $18.58, for a total transaction of $178,962.56.

10x Genomics Price Performance

Shares of NASDAQ:TXG traded down $0.11 during mid-day trading on Thursday, reaching $25.24. 1,798,590 shares of the company were exchanged, compared to its average volume of 2,560,033. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of -72.11 and a beta of 2.17. The firm's 50-day simple moving average is $20.39 and its 200 day simple moving average is $17.85. 10x Genomics has a 1 year low of $7.25 and a 1 year high of $25.69.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.19) by $0.06. The firm had revenue of $166.03 million during the quarter, compared to analysts' expectations of $160.35 million. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. The firm's quarterly revenue was up .6% on a year-over-year basis. During the same quarter last year, the company posted ($0.40) EPS. On average, research analysts forecast that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On 10x Genomics

A number of hedge funds and other institutional investors have recently modified their holdings of TXG. Geneos Wealth Management Inc. acquired a new stake in shares of 10x Genomics in the 4th quarter valued at $38,000. Larson Financial Group LLC raised its holdings in shares of 10x Genomics by 164.4% in the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company's stock valued at $39,000 after purchasing an additional 1,470 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of 10x Genomics by 26.4% in the 3rd quarter. True Wealth Design LLC now owns 4,534 shares of the company's stock valued at $53,000 after purchasing an additional 948 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new stake in shares of 10x Genomics in the 3rd quarter valued at $56,000. Finally, Van ECK Associates Corp raised its holdings in shares of 10x Genomics by 85.9% in the 4th quarter. Van ECK Associates Corp now owns 3,668 shares of the company's stock valued at $60,000 after purchasing an additional 1,695 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on TXG shares. TD Cowen raised their price target on shares of 10x Genomics from $18.00 to $19.00 and gave the company a "hold" rating in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft set a $17.00 price target on shares of 10x Genomics and gave the company a "hold" rating in a research report on Friday, February 13th. Canaccord Genuity Group set a $22.00 price target on shares of 10x Genomics in a research report on Friday, February 13th. Barclays raised their price target on shares of 10x Genomics from $22.00 to $30.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Bank of America set a $21.00 price target on shares of 10x Genomics in a research report on Monday, January 12th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, 10x Genomics presently has an average rating of "Hold" and a consensus price target of $19.46.

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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