10x Genomics (NASDAQ:TXG) Reaches New 52-Week Low at $26.48

Shares of 10x Genomics, Inc. (NASDAQ:TXG) reached a new 52-week low on Thursday . The company traded as low as $26.48 and last traded at $26.62, with a volume of 131771 shares changing hands. The stock had previously closed at $27.52.

Analysts Set New Price Targets

Several brokerages recently issued reports on TXG. Deutsche Bank Aktiengesellschaft cut their target price on 10x Genomics from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. Stifel Nicolaus reduced their target price on shares of 10x Genomics from $68.00 to $63.00 and set a “buy” rating for the company in a research note on Friday, February 16th. Finally, Barclays lowered their target price on shares of 10x Genomics from $55.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, 10x Genomics has an average rating of “Moderate Buy” and an average target price of $60.22.

10x Genomics Trading Up 2.6 %

The firm has a 50-day moving average price of $37.70 and a 200-day moving average price of $42.52. The stock has a market capitalization of $3.29 billion, a PE ratio of -12.71 and a beta of 1.90.

10x Genomics (NASDAQ:TXG) last released its earnings results on Thursday, February 15th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.05). 10x Genomics had a negative net margin of 41.17% and a negative return on equity of 28.82%. The company had revenue of $183.98 million during the quarter, compared to analysts’ expectations of $182.73 million. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. The firm’s revenue was up 17.8% compared to the same quarter last year. Sell-side analysts expect that 10x Genomics, Inc. will post -1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Serge Saxonov sold 4,660 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $44.00, for a total transaction of $205,040.00. Following the transaction, the chief executive officer now owns 842,900 shares of the company’s stock, valued at approximately $37,087,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Serge Saxonov sold 4,660 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $44.00, for a total value of $205,040.00. Following the sale, the chief executive officer now owns 842,900 shares of the company’s stock, valued at $37,087,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Justin J. Mcanear sold 1,865 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total transaction of $86,424.10. Following the completion of the transaction, the chief financial officer now directly owns 95,240 shares of the company’s stock, valued at $4,413,421.60. The disclosure for this sale can be found here. Insiders sold 12,959 shares of company stock valued at $592,806 over the last ninety days. 10.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On 10x Genomics

Hedge funds have recently made changes to their positions in the stock. UMB Bank n.a. boosted its stake in 10x Genomics by 51.6% in the 4th quarter. UMB Bank n.a. now owns 782 shares of the company’s stock worth $44,000 after purchasing an additional 266 shares during the period. Van ECK Associates Corp grew its stake in 10x Genomics by 23.4% during the fourth quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock valued at $107,000 after acquiring an additional 362 shares in the last quarter. AIA Group Ltd grew its stake in 10x Genomics by 0.9% during the fourth quarter. AIA Group Ltd now owns 41,369 shares of the company’s stock valued at $2,315,000 after acquiring an additional 365 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in 10x Genomics by 113.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after acquiring an additional 371 shares during the period. Finally, Xponance Inc. boosted its holdings in 10x Genomics by 3.2% in the 3rd quarter. Xponance Inc. now owns 13,060 shares of the company’s stock valued at $539,000 after purchasing an additional 400 shares during the period. 84.68% of the stock is currently 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.