10x Genomics (NASDAQ:TXG) Reaches New 1-Year Low at $18.39

10x Genomics, Inc. (NASDAQ:TXGGet Free Report)’s share price reached a new 52-week low on Thursday . The stock traded as low as $18.39 and last traded at $19.01, with a volume of 171270 shares changing hands. The stock had previously closed at $19.50.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TXG. Wolfe Research restated a “peer perform” rating on shares of 10x Genomics in a research report on Thursday. Bank of America cut their price target on shares of 10x Genomics from $45.00 to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Jefferies Financial Group assumed 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. UBS Group cut their target price on shares of 10x Genomics from $52.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of 10x Genomics from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $46.62.

View Our Latest Stock Analysis on 10x Genomics

10x Genomics Price Performance

The firm has a market cap of $2.26 billion, a P/E ratio of -8.74 and a beta of 1.87. The firm’s 50 day moving average is $23.97 and its 200 day moving average is $37.35.

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

Insiders Place Their Bets

In other 10x Genomics news, CEO Serge Saxonov sold 4,877 shares of the company’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 value of $118,511.10. Following the completion of the transaction, the chief executive officer now directly owns 889,641 shares in the company, valued at $21,618,276.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other 10x Genomics news, CEO Serge Saxonov sold 4,877 shares of 10x Genomics stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total value of $118,511.10. Following the completion of the transaction, the chief executive officer now directly owns 889,641 shares of the company’s stock, valued at approximately $21,618,276.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benjamin J. Hindson sold 4,087 shares of 10x Genomics stock in a transaction on Wednesday, May 22nd. The stock was 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 $8,506,336.50. The disclosure for this sale can be found here. Insiders sold a total of 11,900 shares of company stock worth $289,170 over the last three months. 10.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TXG. Vanguard Group Inc. increased its position in 10x Genomics by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock valued at $341,581,000 after purchasing an additional 90,204 shares during the period. ARK Investment Management LLC increased its position in 10x Genomics by 35.0% during the 4th quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock valued at $226,150,000 after purchasing an additional 1,047,827 shares during the period. Price T Rowe Associates Inc. MD increased its position in 10x Genomics by 17.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock valued at $137,257,000 after purchasing an additional 553,053 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in 10x Genomics by 58.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock valued at $135,925,000 after purchasing an additional 1,338,248 shares during the period. Finally, Nikko Asset Management Americas Inc. increased its position in 10x Genomics by 58.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock valued at $135,780,000 after purchasing an additional 1,338,248 shares during the period. Institutional investors own 84.68% of the company’s stock.

About 10x Genomics

(Get Free Report)

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.

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