10x Genomics (NASDAQ:TXG) Reaches New 1-Year Low – Time to Sell?

10x Genomics, Inc. (NASDAQ:TXG)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $10.38 and last traded at $10.39, with a volume of 150772 shares trading hands. The stock had previously closed at $10.69.

Wall Street Analyst Weigh In

TXG has been the subject of a number of research analyst reports. Canaccord Genuity Group reduced their price objective on shares of 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. UBS Group reduced their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Leerink Partnrs cut shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 13th. Barclays cut their price objective on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. decreased their target price on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, 10x Genomics presently has an average rating of “Hold” and a consensus target price of $20.21.

10x Genomics Trading Up 3.9 %

The firm’s 50-day moving average price is $13.82 and its 200 day moving average price is $16.59. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of -7.19 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing the consensus estimate 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%. As a group, 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 other 10x Genomics news, CEO Serge Saxonov sold 5,092 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $11.07, for a total transaction of $56,368.44. Following the completion of the sale, the chief executive officer now directly owns 879,482 shares in the company, valued at approximately $9,735,865.74. This trade represents a 0.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alan Mateo bought 40,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were acquired at an average price of $11.14 per share, for a total transaction of $445,600.00. Following the transaction, the director now owns 61,691 shares in the company, valued at $687,237.74. This represents a 184.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC grew its holdings in 10x Genomics by 0.6% in the fourth quarter. FMR LLC now owns 13,454,434 shares of the company’s stock worth $193,206,000 after purchasing an additional 86,455 shares during the period. ARK Investment Management LLC raised its stake in 10x Genomics by 11.1% during the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock worth $171,517,000 after buying an additional 1,193,712 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in 10x Genomics by 3.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,373,212 shares of the company’s stock worth $143,907,000 after acquiring an additional 230,145 shares in the last quarter. RA Capital Management L.P. acquired a new stake in 10x Genomics in the fourth quarter valued at approximately $47,092,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 10x Genomics by 10.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,573 shares of the company’s stock valued at $30,394,000 after acquiring an additional 193,588 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors.

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.