10x Genomics (NASDAQ:TXG) Sets New 1-Year Low After Analyst Downgrade

10x Genomics, Inc. (NASDAQ:TXG)’s share price reached a new 52-week low during mid-day trading on Monday after Barclays lowered their price target on the stock from $19.00 to $18.00. Barclays currently has an overweight rating on the stock. 10x Genomics traded as low as $12.37 and last traded at $12.59, with a volume of 1016713 shares changing hands. The stock had previously closed at $14.25.

Other equities analysts have also recently issued reports about the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a research note on Saturday, February 1st. UBS Group cut their price objective on shares of 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Citigroup cut their price target on 10x Genomics from $35.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley decreased their target price on shares of 10x Genomics from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Finally, The Goldman Sachs Group dropped their target price on 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $23.79.

Institutional Trading of 10x Genomics

A number of hedge funds have recently modified their holdings of TXG. Handelsbanken Fonder AB grew its stake in shares of 10x Genomics by 17.0% in the third quarter. Handelsbanken Fonder AB now owns 28,200 shares of the company’s stock valued at $637,000 after buying an additional 4,100 shares in the last quarter. GAMMA Investing LLC raised its position in shares of 10x Genomics by 451.8% during the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after acquiring an additional 1,265 shares during the last quarter. CWM LLC lifted its stake in 10x Genomics by 444.5% in the third quarter. CWM LLC now owns 22,810 shares of the company’s stock valued at $515,000 after buying an additional 18,621 shares during the period. Sound Income Strategies LLC bought a new stake in shares of 10x Genomics during the third quarter valued at approximately $46,000. Finally, VitalStone Financial LLC lifted its holdings in shares of 10x Genomics by 43,183.3% in the third quarter. VitalStone Financial LLC now owns 15,582 shares of the company’s stock valued at $352,000 after purchasing an additional 15,546 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

10x Genomics Stock Down 15.4 %

The company has a market capitalization of $1.46 billion, a PE ratio of -7.88 and a beta of 1.85. The stock has a 50-day moving average of $14.98 and a 200 day moving average of $17.56.

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.