10x Genomics (NASDAQ:TXG) Sets New 1-Year Low – Here’s What Happened

10x Genomics, Inc. (NASDAQ:TXG)’s stock price hit a new 52-week low during trading on Friday . The company traded as low as $9.06 and last traded at $9.11, with a volume of 455868 shares traded. The stock had previously closed at $9.41.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Leerink Partnrs lowered shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 13th. Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a report on Saturday, March 22nd. Stifel Nicolaus lowered their price objective on 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Citigroup cut their target price on shares of 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $20.21.

10x Genomics Stock Down 2.7 %

The stock’s fifty day simple moving average is $12.12 and its two-hundred day simple moving average is $15.09. The firm has a market cap of $1.12 billion, a PE ratio of -6.03 and a beta of 1.93.

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

Insider Buying and Selling at 10x Genomics

In related news, insider Benjamin J. Hindson sold 4,573 shares of 10x Genomics stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $50,623.11. Following the completion of the sale, the insider now directly owns 335,324 shares in the company, valued at approximately $3,712,036.68. This trade represents a 1.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan Mateo bought 40,000 shares of the business’s stock in a transaction on Friday, February 21st. The stock was bought at an average cost of $11.14 per share, with a total value of $445,600.00. Following the transaction, the director now owns 61,691 shares in the company, valued at $687,237.74. This trade represents a 184.41 % increase in their position. The disclosure for this purchase can be found here. 10.03% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. RA Capital Management L.P. purchased a new stake in 10x Genomics in the fourth quarter worth about $47,092,000. Assenagon Asset Management S.A. bought a new position in shares of 10x Genomics during the 4th quarter valued at approximately $26,308,000. Point72 Asset Management L.P. purchased a new stake in 10x Genomics in the 3rd quarter worth approximately $27,778,000. D. E. Shaw & Co. Inc. bought a new stake in 10x Genomics during the 4th quarter worth approximately $17,499,000. Finally, ARK Investment Management LLC lifted its holdings in 10x Genomics by 11.1% during the fourth quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock valued at $171,517,000 after purchasing an additional 1,193,712 shares in the last quarter. Institutional investors own 84.68% of the company’s stock.

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.