10x Genomics (NASDAQ:TXG) Hits New 52-Week Low at $18.31

10x Genomics, Inc. (NASDAQ:TXGGet Free Report) shares hit a new 52-week low on Monday . The stock traded as low as $18.31 and last traded at $18.48, with a volume of 183436 shares trading hands. The stock had previously closed at $18.72.

Analysts Set New Price Targets

TXG has been the topic of a number of research analyst reports. Bank of America cut their price target on shares of 10x Genomics from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Stifel Nicolaus dropped their target price on shares of 10x Genomics from $63.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Barclays dropped their target price on shares of 10x Genomics from $36.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. TD Cowen cut shares of 10x Genomics from a “buy” rating to a “hold” rating and dropped their target price for the stock from $57.00 to $32.00 in a report on Wednesday, May 1st. Finally, UBS Group dropped their target price on shares of 10x Genomics from $52.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, 10x Genomics presently has a consensus rating of “Hold” and an average price target of $41.92.

View Our Latest Report on 10x Genomics

10x Genomics Stock Performance

The firm’s 50 day simple moving average is $22.32 and its 200-day simple moving average is $35.04. The company has a market cap of $1.87 billion, a price-to-earnings ratio of -7.15 and a beta of 1.84.

10x Genomics (NASDAQ:TXGGet Free Report) last announced its earnings results on Tuesday, April 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.50). 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The company had revenue of $141.01 million for the quarter, compared to analysts’ expectations of $142.24 million. During the same quarter in the previous year, the company posted ($0.44) EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts expect that 10x Genomics, Inc. will post -1.53 EPS for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In other news, CEO Serge Saxonov sold 4,877 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total transaction of $118,511.10. Following the completion of the transaction, the chief executive officer now directly owns 889,641 shares of the company’s stock, valued at $21,618,276.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Justin J. Mcanear sold 2,936 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $71,344.80. Following the completion of the transaction, the chief financial officer now directly owns 146,203 shares of the company’s stock, valued at $3,552,732.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Serge Saxonov sold 4,877 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the transaction, the chief executive officer now directly owns 889,641 shares of the company’s stock, valued at $21,618,276.30. The disclosure for this sale can be found here. Insiders sold a total of 11,900 shares of company stock valued at $289,170 in the last three months. 10.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On 10x Genomics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its stake in shares of 10x Genomics by 38.4% during the third quarter. Advisors Asset Management Inc. now owns 10,465 shares of the company’s stock worth $432,000 after purchasing an additional 2,903 shares during the last quarter. Citigroup Inc. raised its position in 10x Genomics by 94.4% in the third quarter. Citigroup Inc. now owns 10,951 shares of the company’s stock worth $452,000 after acquiring an additional 5,317 shares in the last quarter. Vanguard Group Inc. raised its position in 10x Genomics by 4.2% in the third quarter. Vanguard Group Inc. now owns 8,903,517 shares of the company’s stock worth $367,270,000 after acquiring an additional 354,921 shares in the last quarter. Handelsinvest Investeringsforvaltning purchased a new position in 10x Genomics in the fourth quarter worth $339,000. Finally, Assenagon Asset Management S.A. purchased a new position in 10x Genomics in the fourth quarter worth $984,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

About 10x Genomics

(Get Free Report)

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.

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