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

10x Genomics, Inc. (NASDAQ:TXG) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $9.06 and last traded at $9.11, with a volume of 455868 shares trading hands. The stock had previously closed at $9.41.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TXG shares. Morgan Stanley cut their price target on shares of 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a research report on Saturday, March 22nd. UBS Group decreased their price target on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Citigroup dropped their price objective on 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Finally, Leerink Partnrs lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.21.

10x Genomics Stock Down 3.2 %

The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -5.99 and a beta of 1.93. The business has a 50-day moving average price of $12.24 and a 200-day moving average price of $15.22.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. On average, equities research analysts forecast that 10x Genomics, Inc. will post -1.43 earnings per share for the current year.

Insider Buying and Selling at 10x Genomics

In other news, Director Alan Mateo bought 40,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were purchased at an average price of $11.14 per share, for a total transaction 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 purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Serge Saxonov sold 5,092 shares of 10x Genomics stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $56,368.44. Following the sale, the chief executive officer now owns 879,482 shares of the company’s stock, valued at approximately $9,735,865.74. The trade was a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in 10x Genomics by 0.6% during the fourth quarter. FMR LLC now owns 13,454,434 shares of the company’s stock worth $193,206,000 after acquiring an additional 86,455 shares during the period. ARK Investment Management LLC boosted its position in 10x Genomics by 11.1% in the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock worth $171,517,000 after purchasing an additional 1,193,712 shares in the last quarter. RA Capital Management L.P. acquired a new stake in shares of 10x Genomics during the 4th quarter worth approximately $47,092,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 10x Genomics by 10.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,573 shares of the company’s stock valued at $30,394,000 after purchasing an additional 193,588 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in shares of 10x Genomics in the 4th quarter valued at $26,308,000. 84.68% of the stock is owned by institutional investors and hedge funds.

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.