10x genomics CEO Serge Saxonov sells $56,346 in stock

PLEASANTON, CA—Serge Saxonov, Chief Executive Officer of 10x Genomics, Inc. (NASDAQ:TXG), recently sold a portion of his holdings in the company. The transaction comes as the stock has declined 75% over the past year, with the company currently valued at $1.42 billion. According to InvestingPro analysis, TXG’s stock appears to be trading near its Fair Value. According to a recent SEC filing, Saxonov sold 5,092 shares of Class A Common Stock at an average price of $11.07 per share, totaling approximately $56,346. Following this transaction, Saxonov holds 879,482 shares directly. InvestingPro data shows the company maintains strong liquidity with a current ratio of 4.97, indicating robust short-term financial health.

The sale was conducted to cover tax withholding obligations related to the vesting of restricted stock units. In addition to his direct holdings, Saxonov also holds shares indirectly through various trusts, including the Andromeda Trust, Sirius Trust, Y/S Descendants’ Trust, and Y/S Pot Trust, for which he serves as trustee. Discover more insights about TXG and access detailed financial analysis with InvestingPro, which offers 10+ additional exclusive ProTips and comprehensive research reports.

In other recent news, 10X Genomics reported its fourth-quarter 2024 earnings, revealing a revenue of $165 million, which exceeded the expected $153.44 million but marked a 10% decline year-over-year. The company, however, reported a larger-than-expected loss per share at -$0.40, missing the analyst forecast of -$0.31. Analysts from Citi and Canaccord Genuity responded by lowering their price targets for 10X Genomics, with Citi adjusting its target to $20 while maintaining a Buy rating, and Canaccord reducing its target to $18, also keeping a Buy rating. The company’s revenue guidance for 2025 is set between $610 million and $630 million, slightly below the consensus estimate, reflecting potential impacts from uncertainties in National Institutes of Health (NIH) funding.

Additionally, 10X Genomics is transitioning to its Gem-X technology, aiming to increase volumes through customer validation and project completions. Despite the challenges, analysts remain optimistic about the company’s potential for growth, highlighting the adoption of new products and improved execution as key factors. The company has also embarked on a commercial reorganization, which is expected to take time to implement effectively. The firm’s focus on biopharma and single-cell projects is anticipated to contribute to its future growth, despite the current headwinds.

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