10x Genomics (NASDAQ:TXG) Hits New 12-Month Low at $18.39

10x Genomics, Inc. (NASDAQ:TXG)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $18.39 and last traded at $19.01, with a volume of 171270 shares traded. The stock had previously closed at $19.50.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TXG shares. Wolfe Research reaffirmed a “peer perform” rating on shares of 10x Genomics in a research report on Thursday. Stifel Nicolaus cut their price objective on shares of 10x Genomics from $63.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Canaccord Genuity Group cut their price objective on shares of 10x Genomics from $65.00 to $50.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Guggenheim reissued a “neutral” rating on shares of 10x Genomics in a report on Tuesday. Finally, Barclays cut their price objective on shares of 10x Genomics from $36.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, 10x Genomics currently has an average rating of “Hold” and a consensus price target of $45.00.

10x Genomics Stock Down 2.0 %

The company’s 50 day simple moving average is $23.62 and its two-hundred day simple moving average is $37.03.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Tuesday, April 30th. The company reported ($0.50) 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 the consensus estimate of $142.24 million. During the same period in the previous year, the firm posted ($0.44) earnings per share. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that 10x Genomics, Inc. will post -1.53 EPS for the current year.

Insider Transactions at 10x Genomics

In other 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 transaction of $118,511.10. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Justin J. Mcanear sold 2,936 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total transaction of $71,344.80. Following the completion of the transaction, the chief financial officer now directly owns 146,203 shares in the company, valued at $3,552,732.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Serge Saxonov sold 4,877 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $24.30, for a total transaction of $118,511.10. Following the transaction, the chief executive officer now owns 889,641 shares of the company’s stock, valued at $21,618,276.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,900 shares of company stock worth $289,170. Company insiders own 10.03% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TXG. Allspring Global Investments Holdings LLC lifted its position in 10x Genomics by 113.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after purchasing an additional 371 shares during the period. Covestor Ltd lifted its position in 10x Genomics by 501.7% during the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $39,000 after purchasing an additional 873 shares during the period. UMB Bank n.a. increased its holdings in 10x Genomics by 51.6% in the fourth quarter. UMB Bank n.a. now owns 782 shares of the company’s stock valued at $44,000 after buying an additional 266 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new position in 10x Genomics in the fourth quarter valued at $66,000. Finally, Headlands Technologies LLC purchased a new position in 10x Genomics in the first quarter valued at $71,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

10x Genomics Company Profile

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.