Serge Saxonov Sells 4,877 Shares of 10x Genomics, Inc. (NASDAQ:TXG) Stock

10x Genomics, Inc. (NASDAQ:TXG) CEO Serge Saxonov sold 4,877 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total transaction of $118,511.10. Following the completion of the sale, the chief executive officer now directly owns 889,641 shares of the company’s stock, valued at approximately $21,618,276.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, March 4th, Serge Saxonov sold 4,660 shares of 10x Genomics stock. The stock was sold at an average price of $44.00, for a total value of $205,040.00.

10x Genomics Price Performance

Shares of TXG stock opened at $22.59 on Friday. 10x Genomics, Inc. has a 12-month low of $22.50 and a 12-month high of $63.57. The firm has a fifty day moving average of $30.74 and a 200-day moving average of $40.78.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.50). The company had revenue of $141.01 million during the quarter, compared to the consensus estimate of $142.24 million. 10x Genomics had a negative return on equity of 30.85% and a negative net margin of 42.20%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.44) earnings per share. Equities analysts predict that 10x Genomics, Inc. will post -1.55 EPS for the current fiscal year.

Institutional Trading of 10x Genomics

A number of large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of 10x Genomics by 113.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after buying an additional 371 shares during the period. UMB Bank n.a. lifted its position in 10x Genomics by 51.6% in the 4th quarter. UMB Bank n.a. now owns 782 shares of the company’s stock valued at $44,000 after acquiring an additional 266 shares in the last quarter. Covestor Ltd boosted its stake in 10x Genomics by 501.7% in the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after purchasing an additional 873 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in 10x Genomics in the 4th quarter worth $66,000. Finally, Headlands Technologies LLC bought a new position in 10x Genomics during the 1st quarter worth about $71,000. 84.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group cut their price target on 10x Genomics from $30.00 to $26.00 and set a “sell” rating on the stock in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft reduced their target price on shares of 10x Genomics from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Bank of America cut their price objective on shares of 10x Genomics from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Stifel Nicolaus reduced their price objective on shares of 10x Genomics from $63.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Finally, Canaccord Genuity Group dropped their target price on shares of 10x Genomics from $65.00 to $50.00 and set a “buy” rating for the company in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, 10x Genomics has an average rating of “Moderate Buy” and an average target price of $48.50.

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.