Key Points
- 10x Genomics CEO Serge Saxonov sold 10,718 shares on May 26 at an average price of $24.71, totaling about $264,842. The filing says the sale was to cover tax withholding obligations tied to vested equity awards.
- This latest sale follows several recent insider transactions by Saxonov, including sales of 18,175 shares on May 22 and additional sales in April and March.
- The company recently beat earnings and revenue estimates for the first quarter, and analysts currently rate TXG as a Hold on average with a $23.17 target price.
10x Genomics (NASDAQ:TXG - Get Free Report) CEO Serge Saxonov sold 10,718 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $24.71, for a total transaction of $264,841.78. Following the sale, the chief executive officer owned 1,138,380 shares in the company, valued at $28,129,369.80. This represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Serge Saxonov also recently made the following trade(s):
- On Friday, May 22nd, Serge Saxonov sold 18,175 shares of 10x Genomics stock. The shares were sold at an average price of $24.44, for a total transaction of $444,197.00.
- On Tuesday, April 14th, Serge Saxonov sold 5,000 shares of 10x Genomics stock. The shares were sold at an average price of $24.56, for a total transaction of $122,800.00.
- On Tuesday, March 24th, Serge Saxonov sold 5,000 shares of 10x Genomics stock. The shares were sold at an average price of $19.52, for a total value of $97,600.00.
- On Monday, March 23rd, Serge Saxonov sold 10,000 shares of 10x Genomics stock. The shares were sold at an average price of $19.13, for a total value of $191,300.00.
10x Genomics Price Performance
NASDAQ:TXG opened at $25.51 on Thursday. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of -150.06 and a beta of 2.05. 10x Genomics has a 1 year low of $8.41 and a 1 year high of $26.44. The business has a 50 day simple moving average of $22.03 and a 200-day simple moving average of $19.89.
10x Genomics (NASDAQ:TXG - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.19. The business had revenue of $150.84 million during the quarter, compared to analyst estimates of $146.41 million. 10x Genomics had a negative return on equity of 2.86% and a negative net margin of 3.55%.The company's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the company earned ($0.28) EPS. As a group, analysts expect that 10x Genomics will post -0.82 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
TXG has been the subject of several analyst reports. William Blair upgraded shares of 10x Genomics from a "market perform" rating to an "outperform" rating in a report on Tuesday, March 31st. Stifel Nicolaus raised their target price on shares of 10x Genomics from $20.00 to $25.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Weiss Ratings restated a "sell (d-)" rating on shares of 10x Genomics in a report on Friday, March 27th. Citigroup raised their target price on shares of 10x Genomics from $18.00 to $24.00 and gave the stock a "neutral" rating in a report on Tuesday, April 7th. Finally, Zacks Research lowered shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $23.17.
View Our Latest Stock Report on TXG
Institutional Trading of 10x Genomics
Large investors have recently made changes to their positions in the stock. Foundations Investment Advisors LLC purchased a new stake in shares of 10x Genomics during the third quarter valued at $665,000. AlphaQuest LLC boosted its stake in shares of 10x Genomics by 234.3% during the third quarter. AlphaQuest LLC now owns 133,419 shares of the company's stock valued at $1,560,000 after purchasing an additional 93,514 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of 10x Genomics during the third quarter valued at $1,179,000. JPMorgan Chase & Co. boosted its stake in shares of 10x Genomics by 777.6% during the third quarter. JPMorgan Chase & Co. now owns 1,073,865 shares of the company's stock valued at $12,553,000 after purchasing an additional 951,495 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in shares of 10x Genomics during the third quarter valued at $1,896,000. 84.68% of the stock is owned by hedge funds and other institutional investors.
10x Genomics Company Profile
(
Get Free Report)
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.
Further Reading
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