Key Points
- 10x Genomics CEO Serge Saxonov sold 31,000 shares for about $1.95 million at an average price of $62.90, reducing his direct stake by 2.95% to 1,019,249 shares.
- The shares traded at $58.19 in Friday’s mid-day session. The company’s latest quarter beat analyst expectations for earnings and revenue, with revenue up 1.1% year over year.
- Analysts’ consensus rating was Hold, with an average price target of $68.40; institutional investors owned 84.68% of the stock.
10x Genomics (NASDAQ:TXG - Get Free Report) CEO Serge Saxonov sold 31,000 shares of the company's stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $62.90, for a total value of $1,949,900.00. Following the transaction, the chief executive officer directly owned 1,019,249 shares in the company, valued at approximately $64,110,762.10. The trade was a 2.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Serge Saxonov also recently made the following trade(s):
- On Tuesday, September 22nd, Serge Saxonov sold 25,000 shares of 10x Genomics stock. The shares were sold at an average price of $81.22, for a total value of $2,030,500.00.
- On Wednesday, August 26th, Serge Saxonov sold 10,486 shares of 10x Genomics stock. The stock was sold at an average price of $63.69, for a total value of $667,853.34.
- On Monday, August 24th, Serge Saxonov sold 18,545 shares of 10x Genomics stock. The stock was sold at an average price of $63.02, for a total value of $1,168,705.90.
10x Genomics Stock Performance
NASDAQ:TXG traded down $0.91 during mid-day trading on Friday, hitting $58.19. 2,123,279 shares of the company's stock traded hands, compared to its average volume of 3,247,553. The company has a fifty day moving average of $73.92 and a 200 day moving average of $42.57. 10x Genomics has a twelve month low of $15.12 and a twelve month high of $102.81. The company has a market capitalization of $7.58 billion, a P/E ratio of -111.90 and a beta of 2.03.
10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.12. 10x Genomics had a negative return on equity of 8.19% and a negative net margin of 10.84%. The business had revenue of $150.67 million during the quarter, compared to the consensus estimate of $147.96 million. During the same quarter last year, the company earned ($0.22) earnings per share. The company's quarterly revenue was up 1.1% on a year-over-year basis. On average, research analysts expect that 10x Genomics will post -0.74 earnings per share for the current fiscal year.
Institutional Trading of 10x Genomics
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Entropy Technologies LP acquired a new stake in shares of 10x Genomics during the 3rd quarter valued at about $1,293,000. FORA Capital LLC acquired a new position in 10x Genomics in the 3rd quarter worth about $496,000. Pathstone Holdings LLC purchased a new position in 10x Genomics during the third quarter worth approximately $560,000. Marshall Wace LLP purchased a new position in 10x Genomics during the third quarter worth approximately $4,954,000. Finally, Empowered Funds LLC grew its holdings in 10x Genomics by 384.6% in the third quarter. Empowered Funds LLC now owns 38,252 shares of the company's stock valued at $3,456,000 after purchasing an additional 30,358 shares during the period. Institutional investors and hedge funds own 84.68% of the company's stock.
Analyst Ratings Changes
TXG has been the topic of several research analyst reports. Canaccord Genuity Group boosted their target price on shares of 10x Genomics from $60.00 to $100.00 and gave the stock a "buy" rating in a research report on Monday, October 12th. Morgan Stanley upped their target price on 10x Genomics from $40.00 to $70.00 and gave the company an "equal weight" rating in a research report on Monday, October 12th. UBS Group reduced their target price on 10x Genomics from $90.00 to $61.00 and set a "neutral" rating for the company in a research note on Friday, November 6th. Leerink Partners lifted their price target on 10x Genomics from $40.00 to $90.00 and gave the stock a "market perform" rating in a research report on Tuesday, September 29th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of 10x Genomics in a research note on Monday, September 21st. Five research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $68.40.
Read Our Latest Research Report on 10x Genomics
10x Genomics Company Profile
(
Get Free Report)
10x Genomics, Inc. develops technology for studying biological systems at single-cell and spatial resolution. Its instruments, consumables and software help researchers analyze gene expression and other features of cells while preserving information about their location within tissue. The company's product platforms include Chromium for single-cell analysis, Visium for spatial gene-expression analysis and Xenium for in situ analysis of gene activity within tissue samples. Its tools are used in areas such as immunology, neuroscience, cancer research and drug discovery.
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