Serge Saxonov Sells 5,092 Shares of 10x Genomics, Inc. (NASDAQ:TXG) Stock

10x Genomics, Inc. (NASDAQ:TXG) CEO Serge Saxonov sold 5,092 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $56,368.44. Following the completion of the sale, the chief executive officer now directly owns 879,482 shares of the company’s stock, valued at $9,735,865.74. This represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

10x Genomics Stock Performance

NASDAQ TXG opened at $10.78 on Friday. The company has a market capitalization of $1.32 billion, a P/E ratio of -7.09 and a beta of 1.85. 10x Genomics, Inc. has a one year low of $10.63 and a one year high of $48.42. The stock has a 50 day moving average price of $14.07 and a 200-day moving average price of $16.87.

10x Genomics (NASDAQ:TXG) last posted its earnings results on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. As a group, equities analysts predict that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning bought a new stake in 10x Genomics in the third quarter worth $214,000. Blue Trust Inc. lifted its position in 10x Genomics by 136.5% in the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after buying an additional 1,025 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in 10x Genomics by 2,280.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 38,963 shares of the company’s stock worth $880,000 after buying an additional 37,326 shares during the last quarter. International Assets Investment Management LLC bought a new position in 10x Genomics during the 3rd quarter valued at about $438,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in 10x Genomics by 84.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 23,952 shares of the company’s stock worth $541,000 after purchasing an additional 10,935 shares during the period. 84.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a research report on Wednesday, February 19th. UBS Group decreased their price target on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price objective on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Barclays decreased their target price on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Finally, Canaccord Genuity Group cut their price objective on shares of 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.57.

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.