Insider Selling: 10x Genomics, Inc. (NASDAQ:TXG) CEO Sells 5,092 Shares of Stock

10x Genomics, Inc. (NASDAQ:TXG) CEO Serge Saxonov sold 5,092 shares of 10x Genomics 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 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 filing with the Securities & Exchange Commission, which is available through the SEC website.

10x Genomics Stock Performance

Shares of NASDAQ TXG opened at $11.65 on Thursday. The firm has a market cap of $1.42 billion, a PE ratio of -7.66 and a beta of 1.85. The firm has a fifty day moving average of $14.13 and a 200 day moving average of $16.92. 10x Genomics, Inc. has a one year low of $10.63 and a one year high of $48.42.

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

Institutional Investors Weigh In On 10x Genomics

Several institutional investors and hedge funds have recently added to or reduced their stakes in TXG. RA Capital Management L.P. purchased a new stake in shares of 10x Genomics during the fourth quarter worth $47,092,000. Assenagon Asset Management S.A. purchased a new stake in shares of 10x Genomics during the fourth quarter worth $26,308,000. ARK Investment Management LLC grew its holdings in shares of 10x Genomics by 15.4% during the third quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock worth $242,743,000 after buying an additional 1,436,582 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of 10x Genomics during the third quarter worth $27,778,000. Finally, D. E. Shaw & Co. Inc. purchased a new stake in shares of 10x Genomics during the fourth quarter worth $17,499,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Wall Street Analyst Weigh In

TXG has been the subject of several research reports. Leerink Partnrs cut shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 13th. Stifel Nicolaus decreased their price objective on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Barclays decreased their price objective on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Canaccord Genuity Group decreased their price objective on shares of 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research note 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 issued a buy rating to the company’s stock. According to MarketBeat, 10x Genomics has an average 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.