10x Genomics (NASDAQ:TXG) Shares Down 5.9%

10x Genomics, Inc. (NASDAQ:TXG)’s share price traded down 5.9% during trading on Tuesday . The stock traded as low as $30.84 and last traded at $30.92. 371,984 shares traded hands during trading, a decline of 73% from the average session volume of 1,386,820 shares. The stock had previously closed at $32.86.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Barclays lowered their target price on shares of 10x Genomics from $55.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. Stifel Nicolaus lowered their target price on shares of 10x Genomics from $68.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, February 16th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, 10x Genomics currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.88.

10x Genomics Price Performance

The company has a 50-day moving average price of $40.59 and a 200-day moving average price of $43.11.

10x Genomics (NASDAQ:TXG) last released its earnings results on Thursday, February 15th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.05). 10x Genomics had a negative net margin of 41.17% and a negative return on equity of 28.82%. The company had revenue of $183.98 million during the quarter, compared to the consensus estimate of $182.73 million. During the same quarter in the previous year, the business posted ($0.15) EPS. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. Sell-side analysts predict that 10x Genomics, Inc. will post -1.47 EPS for the current year.

Insider Activity at 10x Genomics

In related news, CEO Serge Saxonov sold 4,660 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $44.00, for a total value of $205,040.00. Following the completion of the sale, the chief executive officer now owns 842,900 shares in the company, valued at $37,087,600. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other 10x Genomics news, CFO Justin J. Mcanear sold 1,865 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total transaction of $86,424.10. Following the completion of the transaction, the chief financial officer now owns 95,240 shares in the company, valued at $4,413,421.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Serge Saxonov sold 4,660 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $44.00, for a total transaction of $205,040.00. Following the transaction, the chief executive officer now owns 842,900 shares of the company’s stock, valued at approximately $37,087,600. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,959 shares of company stock worth $592,806. Company insiders own 10.65% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its stake in shares of 10x Genomics by 17.9% in the second quarter. PNC Financial Services Group Inc. now owns 1,299 shares of the company’s stock valued at $73,000 after acquiring an additional 197 shares during the last quarter. Atlas Capital Advisors LLC increased its holdings in shares of 10x Genomics by 14.2% in the fourth quarter. Atlas Capital Advisors LLC now owns 1,934 shares of the company’s stock valued at $108,000 after purchasing an additional 240 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of 10x Genomics by 51.6% in the fourth quarter. UMB Bank n.a. now owns 782 shares of the company’s stock valued at $44,000 after purchasing an additional 266 shares in the last quarter. Comerica Bank increased its holdings in shares of 10x Genomics by 22.0% in the fourth quarter. Comerica Bank now owns 1,887 shares of the company’s stock valued at $106,000 after purchasing an additional 340 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of 10x Genomics by 5.8% in the first quarter. First Trust Advisors LP now owns 6,622 shares of the company’s stock valued at $369,000 after purchasing an additional 362 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.