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 10x Genomics stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $56,368.44. Following the completion of the transaction, the chief executive officer now directly owns 879,482 shares of the company’s stock, valued at $9,735,865.74. This trade represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

10x Genomics Stock Up 4.9 %

Shares of 10x Genomics stock traded up $0.54 during trading on Wednesday, reaching $11.65. 3,013,689 shares of the company were exchanged, compared to its average volume of 2,633,405. The business has a 50-day moving average price of $14.16 and a 200-day moving average price of $16.95. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -7.66 and a beta of 1.85. 10x Genomics, Inc. has a twelve month low of $10.63 and a twelve month high of $48.42.

10x Genomics (NASDAQ:TXG) last announced its quarterly 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%. On average, equities research analysts forecast that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TXG shares. Leerink Partnrs downgraded shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price target on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus decreased their target price on 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. UBS Group decreased their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, 10x Genomics currently has an average rating of “Hold” and a consensus target price of $20.57.

Hedge Funds Weigh In On 10x Genomics

Several institutional investors and hedge funds have recently made changes to their positions in TXG. RA Capital Management L.P. acquired a new position in 10x Genomics in the fourth quarter valued at about $47,092,000. Assenagon Asset Management S.A. bought a new stake in shares of 10x Genomics during the 4th quarter worth approximately $26,308,000. ARK Investment Management LLC boosted its holdings in shares of 10x Genomics by 15.4% in the 3rd quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock valued at $242,743,000 after buying an additional 1,436,582 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of 10x Genomics in the third quarter valued at $27,778,000. Finally, D. E. Shaw & Co. Inc. bought a new position in shares of 10x Genomics in the fourth quarter valued at $17,499,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.