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

Shares of 10x Genomics, Inc. (NASDAQ:TXG) reached a new 52-week low during mid-day trading on Monday . The company 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.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Leerink Partnrs downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 13th. Citigroup lowered their price target on 10x Genomics from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday. Barclays cut their price objective on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Leerink Partners downgraded shares of 10x Genomics from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $25.00 to $12.00 in a report on Thursday, February 13th. Finally, Canaccord Genuity Group cut their price target on shares of 10x Genomics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.21.

10x Genomics Stock Up 3.9 %

The firm has a market capitalization of $1.34 billion, a PE ratio of -7.19 and a beta of 1.85. The stock has a 50-day simple moving average of $13.82 and a 200-day simple moving average of $16.59.

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

Insider Activity

In other 10x Genomics news, CEO Serge Saxonov sold 5,092 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $56,368.44. Following the completion of the transaction, the chief executive officer now owns 879,482 shares in the company, valued at $9,735,865.74. This trade represents a 0.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan Mateo purchased 40,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were bought at an average price of $11.14 per share, for a total transaction of $445,600.00. Following the completion of the transaction, the director now owns 61,691 shares of the company’s stock, valued at approximately $687,237.74. This trade represents a 184.41 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its position in shares of 10x Genomics by 355.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 355,488 shares of the company’s stock valued at $8,027,000 after acquiring an additional 277,355 shares during the last quarter. Entropy Technologies LP grew its stake in 10x Genomics by 285.6% in the 4th quarter. Entropy Technologies LP now owns 37,595 shares of the company’s stock worth $540,000 after buying an additional 27,844 shares in the last quarter. Geode Capital Management LLC grew its stake in 10x Genomics by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock worth $41,009,000 after buying an additional 42,777 shares in the last quarter. SG Americas Securities LLC grew its stake in 10x Genomics by 209.8% in the 4th quarter. SG Americas Securities LLC now owns 73,046 shares of the company’s stock worth $1,049,000 after buying an additional 49,468 shares in the last quarter. Finally, Alberta Investment Management Corp bought a new stake in shares of 10x Genomics during the 4th quarter worth $3,206,000. Hedge funds and other 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.