10x Genomics (NASDAQ:TXG) Sets New 52-Week Low – Should You Sell?

Shares of 10x Genomics, Inc. (NASDAQ:TXG) hit a new 52-week low during trading on Friday . The company traded as low as $13.67 and last traded at $13.73, with a volume of 314522 shares. The stock had previously closed at $14.12.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TXG shares. Leerink Partnrs raised shares of 10x Genomics to a “strong-buy” rating in a report on Tuesday, September 3rd. JPMorgan Chase & Co. decreased their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Barclays dropped their price target on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Citigroup reduced their price objective on 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group dropped their target price on 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.19.

10x Genomics Trading Down 5.5 %

The company has a market cap of $1.61 billion, a P/E ratio of -8.72 and a beta of 1.87. The business’s 50 day simple moving average is $18.42 and its 200 day simple moving average is $20.39.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.04. The firm had revenue of $151.65 million for the quarter, compared to the consensus estimate of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The company’s revenue was down 1.3% on a year-over-year basis. During the same period last year, the firm earned ($0.51) EPS. Sell-side analysts anticipate that 10x Genomics, Inc. will post -1.4 EPS for the current year.

Insider Activity

In related news, CEO Serge Saxonov sold 6,749 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $152,054.97. Following the completion of the transaction, the chief executive officer now owns 882,467 shares in the company, valued at approximately $19,881,981.51. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Benjamin J. Hindson sold 4,351 shares of 10x Genomics stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $98,028.03. Following the completion of the sale, the insider now owns 345,704 shares in the company, valued at approximately $7,788,711.12. This represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,061 shares of company stock worth $316,794 over the last ninety days. Corporate insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

A number of hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in 10x Genomics by 113.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after purchasing an additional 371 shares in the last quarter. GAMMA Investing LLC raised its position in shares of 10x Genomics by 451.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock valued at $35,000 after buying an additional 1,265 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of 10x Genomics in the 3rd quarter valued at about $35,000. First Horizon Advisors Inc. lifted its holdings in shares of 10x Genomics by 74.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock valued at $37,000 after acquiring an additional 808 shares during the last quarter. Finally, Covestor Ltd grew its position in 10x Genomics by 501.7% in the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after acquiring an additional 873 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other 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.