10x Genomics (NASDAQ:TXG) Shares Down 4.3% – Time to Sell?

10x Genomics, Inc. (NASDAQ:TXG) shares fell 4.3% on Tuesday . The company traded as low as $15.58 and last traded at $15.76. 106,007 shares were traded during trading, a decline of 94% from the average session volume of 1,741,581 shares. The stock had previously closed at $16.47.

Analyst Upgrades and Downgrades

Several research firms recently commented on TXG. Leerink Partnrs raised 10x Genomics to a “strong-buy” rating in a report on Tuesday, September 3rd. Leerink Partners initiated coverage on shares of 10x Genomics in a report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price objective on the stock. UBS Group dropped their price target on shares of 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. Citigroup dropped their price target on shares of 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Stephens restated an “overweight” rating and set a $30.00 target price on shares of 10x Genomics in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.19.

10x Genomics Trading Down 3.8 %

The stock’s 50-day moving average price is $16.89 and its 200 day moving average price is $19.50.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The business had revenue of $151.65 million for the quarter, compared to analysts’ expectations of $158.84 million. During the same quarter in the prior year, the firm posted ($0.51) earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. Sell-side analysts forecast that 10x Genomics, Inc. will post -1.4 EPS for the current fiscal year.

Hedge Funds Weigh In On 10x Genomics

Several large investors have recently modified their holdings of TXG. Geode Capital Management LLC raised its holdings in 10x Genomics by 2.4% during the third quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock worth $41,009,000 after purchasing an additional 42,777 shares in the last quarter. M&T Bank Corp bought a new position in 10x Genomics in the 3rd quarter valued at about $203,000. Barclays PLC grew its position in 10x Genomics by 11.7% in the third quarter. Barclays PLC now owns 602,536 shares of the company’s stock worth $13,605,000 after acquiring an additional 63,079 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of 10x Genomics during the 3rd quarter valued at about $402,000. Finally, XTX Topco Ltd grew its stake in 10x Genomics by 241.9% in the third quarter. XTX Topco Ltd now owns 45,008 shares of the company’s stock worth $1,016,000 after purchasing an additional 31,844 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

About 10x Genomics

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.