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Serge Saxonov, the Chief Executive Officer of 10x Genomics, Inc. (NASDAQ:TXG), recently sold shares of the company’s Class A common stock. According to a Form 4 filing with the Securities and Exchange Commission, Saxonov sold 7,942 shares at an average price of $10.6262 per share, amounting to a total transaction value of approximately $84,393. These transactions were conducted under a Rule 10b5-1 trading plan, which was adopted on September 12, 2024, and terminated on March 4, 2025. The sale comes as TXG shares have declined significantly, with InvestingPro data showing a 76% drop over the past year and the stock currently trading near its 52-week low of $9.27.
Additionally, Saxonov exercised options to acquire 50,000 shares at a price of $1.20 per share on March 4, 2025. This exercise was part of a stock option plan that originally included 300,000 shares, of which 282,537 have already been exercised. InvestingPro analysis indicates the company maintains strong liquidity with a current ratio of 4.97, though it faces profitability challenges. Get access to 12 additional ProTips and comprehensive financial analysis with an InvestingPro subscription. Following these transactions, Saxonov holds 921,540 shares directly, with additional shares held indirectly through various trusts for which he serves as trustee.
In other recent news, 10x Genomics reported its fourth-quarter 2024 earnings, revealing a revenue of $165 million, which exceeded analyst expectations of $153.44 million. However, the company posted an EPS of -$0.40, missing the forecast of -$0.31. The revenue boost was largely attributed to strong sales of Chromium instruments and Spatial consumables. Looking ahead, 10x Genomics has set its fiscal year 2025 revenue guidance in the range of $610-630 million, slightly below the consensus estimate of $631 million, factoring in potential impacts from National Institutes of Health (NIH) funding uncertainties.
In legal developments, 10x Genomics secured a worldwide permanent injunction against Parse Biosciences, prohibiting them from manufacturing or selling certain products that infringed on 10x Genomics’ patents. Analyst firms have reacted to these developments with Citi reducing the stock price target to $20 but maintaining a Buy rating, while Canaccord Genuity also lowered the target to $18 but upheld a Buy rating. Despite these challenges, analysts from both firms express optimism about the company’s potential for growth.
10x Genomics is also in the process of transitioning to its Gem-X technology, which is expected to increase volumes as customer validation progresses. The company continues to focus on managing costs and maintaining a strong balance sheet while navigating current market challenges.
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