Key Points
- 10x Genomics CEO Serge Saxonov sold 30,000 shares on June 22 at an average price of $34.44, totaling about $1.03 million. After the sale, he still held 1,108,380 shares worth roughly $38.17 million.
- The CEO has made several other recent sales, including transactions on May 22 and May 26, indicating a continued reduction in his stake.
- Despite the insider selling, TXG shares have been strong, trading near $34.58 with a 52-week high of $36.59, while the company also beat quarterly earnings and revenue estimates in its latest report.
10x Genomics (NASDAQ:TXG - Get Free Report) CEO Serge Saxonov sold 30,000 shares of the firm's stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $34.44, for a total transaction of $1,033,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,108,380 shares in the company, valued at $38,172,607.20. This trade represents a 2.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Serge Saxonov also recently made the following trade(s):
- On Tuesday, May 26th, Serge Saxonov sold 10,718 shares of 10x Genomics stock. The stock was sold at an average price of $24.71, for a total transaction of $264,841.78.
- On Friday, May 22nd, Serge Saxonov sold 18,175 shares of 10x Genomics stock. The stock was 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.
10x Genomics Stock Performance
Shares of TXG stock opened at $34.58 on Thursday. 10x Genomics has a 52-week low of $10.63 and a 52-week high of $36.59. The stock has a market cap of $4.39 billion, a PE ratio of -203.41 and a beta of 2.12. The firm's 50 day moving average price is $26.20 and its two-hundred day moving average price is $21.84.
10x Genomics (NASDAQ:TXG - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.10) EPS for the quarter, topping analysts' consensus estimates of ($0.29) by $0.19. The firm had revenue of $150.84 million during the quarter, compared to analyst estimates of $146.41 million. 10x Genomics had a negative net margin of 3.55% and a negative return on equity of 2.86%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.28) EPS. As a group, sell-side analysts predict that 10x Genomics will post -0.79 earnings per share for the current fiscal year.
Hedge Funds Weigh In On 10x Genomics
Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC increased its position in shares of 10x Genomics by 241.3% in the 2nd 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 in the last quarter. Millennium Management LLC raised its stake in 10x Genomics by 84.7% during the 3rd quarter. Millennium Management LLC now owns 5,437,969 shares of the company's stock worth $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% during the third quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company's stock worth $50,099,000 after acquiring an additional 2,394,355 shares in the last quarter. Quantinno Capital Management LP lifted its holdings 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 worth $25,864,000 after acquiring an additional 1,506,530 shares in the last quarter. Finally, Casdin Capital LLC acquired a new position in 10x Genomics in the fourth quarter valued at about $22,834,000. Institutional investors and hedge funds own 84.68% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. Citigroup lifted their price objective on 10x Genomics from $18.00 to $24.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 7th. Morgan Stanley raised their target price on 10x Genomics from $20.00 to $22.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 12th. Canaccord Genuity Group boosted their target price on 10x Genomics from $22.00 to $32.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. William Blair upgraded 10x Genomics from a "market perform" rating to an "outperform" rating in a research report on Tuesday, March 31st. Finally, Zacks Research downgraded shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 18th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, 10x Genomics currently has an average rating of "Hold" and a consensus price target of $24.00.
Check Out Our Latest Research Report on TXG
About 10x Genomics
(
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
