10x Genomics (NASDAQ:TXG) Sets New 12-Month Low – Here’s What Happened

10x Genomics, Inc. (NASDAQ:TXG)’s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $10.75 and last traded at $10.79, with a volume of 186282 shares traded. The stock had previously closed at $10.90.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Stifel Nicolaus reduced their price objective on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Morgan Stanley cut their price objective on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Leerink Partnrs lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 13th. UBS Group cut their price target on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.57.

10x Genomics Stock Down 1.6 %

The business has a 50-day moving average price of $14.16 and a two-hundred day moving average price of $16.95. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -7.31 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data 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%. On average, sell-side analysts anticipate that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Alan Mateo bought 40,000 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were bought at an average price of $11.14 per share, with a total value of $445,600.00. Following the completion of the transaction, the director now directly owns 61,691 shares in the company, valued at approximately $687,237.74. This represents a 184.41 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 10.03% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On 10x Genomics

Several large investors have recently bought and sold shares of TXG. RA Capital Management L.P. purchased a new stake in shares of 10x Genomics in the fourth quarter valued at about $47,092,000. Assenagon Asset Management S.A. bought a new stake in 10x Genomics in the 4th quarter worth about $26,308,000. ARK Investment Management LLC increased its stake in 10x Genomics by 15.4% in the 3rd quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock valued at $242,743,000 after buying an additional 1,436,582 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of 10x Genomics during the 3rd quarter worth approximately $27,778,000. Finally, D. E. Shaw & Co. Inc. bought a new position in shares of 10x Genomics during the 4th quarter worth approximately $17,499,000. 84.68% of the stock is currently owned by institutional investors.

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.