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

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TXG shares. Barclays cut their price target 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. Jefferies Financial Group started coverage on shares of 10x Genomics in a report on Monday, June 3rd. They issued a “hold” rating and a $24.00 price target on the stock. Guggenheim reissued a “neutral” rating on shares of 10x Genomics in a report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft lowered shares of 10x Genomics from a “buy” rating to a “hold” rating and cut their price target for the stock from $55.00 to $25.00 in a report on Wednesday. Finally, Wolfe Research reissued a “peer perform” rating on shares of 10x Genomics in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $41.92.

10x Genomics Price Performance

The firm has a market cap of $1.87 billion, a P/E ratio of -7.15 and a beta of 1.84. The stock’s 50-day simple moving average is $22.32 and its two-hundred day simple moving average is $35.04.

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

Insiders Place Their Bets

In other 10x Genomics news, CEO Serge Saxonov sold 4,877 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total transaction of $118,511.10. Following the completion of the sale, the chief executive officer now directly owns 889,641 shares of the company’s stock, valued at $21,618,276.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other 10x Genomics news, insider Benjamin J. Hindson sold 4,087 shares of the firm’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 transaction of $99,314.10. Following the completion of the transaction, the insider now directly owns 350,055 shares of the company’s stock, valued at approximately $8,506,336.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Serge Saxonov sold 4,877 shares of the firm’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 transaction of $118,511.10. Following 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 have sold a total of 11,900 shares of company stock worth $289,170 in the last three months. Corporate insiders own 10.03% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

A number of institutional investors have recently bought and sold shares of TXG. Advisors Asset Management Inc. grew its stake in shares of 10x Genomics by 38.4% during the 3rd 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 period. Citigroup Inc. grew its stake in shares of 10x Genomics by 94.4% during the 3rd quarter. Citigroup Inc. now owns 10,951 shares of the company’s stock worth $452,000 after purchasing an additional 5,317 shares during the period. Vanguard Group Inc. grew its stake in shares of 10x Genomics by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,903,517 shares of the company’s stock worth $367,270,000 after purchasing an additional 354,921 shares during the period. Handelsinvest Investeringsforvaltning acquired a new stake in shares of 10x Genomics during the 4th quarter worth approximately $339,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of 10x Genomics during the 4th quarter worth approximately $984,000. 84.68% of the stock is owned by hedge funds and other 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.