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 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 sale, the chief executive officer now owns 879,482 shares in the company, valued at approximately $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 can be accessed through this link.

10x Genomics Stock Performance

Shares of 10x Genomics stock opened at $10.69 on Friday. 10x Genomics, Inc. has a 1 year low of $10.40 and a 1 year high of $48.42. The company has a market capitalization of $1.31 billion, a P/E ratio of -7.03 and a beta of 1.85. The company’s fifty day moving average is $14.00 and its two-hundred day moving average is $16.81.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) earnings per share (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%. As a group, equities analysts expect that 10x Genomics, Inc. will post -1.43 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in 10x Genomics during the 3rd quarter worth $35,000. Blue Trust Inc. lifted its stake in shares of 10x Genomics by 136.5% in the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after acquiring an additional 1,025 shares during the period. Signaturefd LLC lifted its stake in shares of 10x Genomics by 424.6% in the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $26,000 after acquiring an additional 1,452 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of 10x Genomics in the 4th quarter worth $32,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of 10x Genomics by 1,108.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,442 shares of the company’s stock worth $55,000 after acquiring an additional 2,240 shares during the period. 84.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on TXG. UBS Group dropped their price objective on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Citigroup dropped their price objective on shares of 10x Genomics from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Canaccord Genuity Group dropped their price objective on shares of 10x Genomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a research report on Wednesday, February 19th. Finally, Leerink Partners downgraded shares of 10x Genomics from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $25.00 to $12.00 in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $20.57.

10x Genomics Company Profile

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.