10x genomics director Alan Mateo acquires $445,572 in stock

PLEASANTON, CA—Alan Mateo, a director at 10x Genomics, Inc. (NASDAQ:TXG), has recently increased his stake in the company. According to a recent SEC filing, Mateo purchased 40,000 shares of Class A common stock on February 21, 2025. The shares were acquired at a weighted average price of $11.1393 per share, amounting to a total transaction value of $445,572. The purchase comes as the stock trades near its 52-week low of $10.63, with InvestingPro data indicating the stock is currently in oversold territory.

The purchase was executed through multiple trades with prices ranging from $11.04 to $11.2751. Following this transaction, Mateo now holds a total of 61,691 shares directly in the company. The company maintains a strong balance sheet with a healthy current ratio of 4.97, indicating robust liquidity position.

10x Genomics, based in Pleasanton, California, is known for its laboratory analytical instruments. This acquisition by Mateo reflects a significant investment in the company’s future prospects. With a market capitalization of $1.36 billion, the company holds more cash than debt on its balance sheet. According to InvestingPro, which offers 8 additional key insights about TXG’s financial health and market position, the stock appears undervalued based on its Fair Value analysis.

In other recent news, 10X Genomics reported its fourth-quarter 2024 earnings, revealing a revenue of $165 million, which exceeded analyst expectations but marked a 10% decline year-over-year. The company’s earnings per share came in at -$0.40, missing the forecasted -$0.31, highlighting ongoing profitability challenges. Analysts from Citi and Canaccord Genuity adjusted their price targets for 10X Genomics, with Citi reducing it to $20 and Canaccord to $18, both maintaining a Buy rating despite the lowered targets. The company has set its fiscal year 2025 revenue guidance between $610 million and $630 million, slightly below the consensus estimate, partly due to uncertainties in National Institutes of Health (NIH) funding.

10X Genomics is undergoing a commercial reorganization and transitioning to its Gem-X technology, with expectations of increased volumes once customer validation is complete. The company also reported strong sales in its Chromium and Spatial consumables, contributing to the revenue beat. However, the guidance reflects potential headwinds from reduced NIH funding and indirect cost support, which could impact future financial performance. Despite these challenges, analysts remain optimistic about the company’s potential for growth, citing new product adoption and improved execution as key factors. The company ended 2024 with $393.4 million in cash and cash equivalents, positioning it well for future opportunities.

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