10x Genomics (NASDAQ:TXG) Hits New 52-Week Low at $33.47

10x Genomics, Inc. (NASDAQ:TXG)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $33.47 and last traded at $33.54, with a volume of 219999 shares traded. The stock had previously closed at $34.55.

Analysts Set New Price Targets

A number of brokerages have weighed in on TXG. Barclays dropped their price target on shares of 10x Genomics from $55.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. Stifel Nicolaus dropped their price target on shares of 10x Genomics from $68.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, February 16th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.88.

10x Genomics Stock Down 6.3 %

The company’s 50 day moving average price is $40.92 and its 200 day moving average price is $43.21.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate 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 business had revenue of $183.98 million during the quarter, compared to analysts’ expectations of $182.73 million. During the same period in the previous year, the business posted ($0.15) EPS. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, sell-side analysts expect that 10x Genomics, Inc. will post -1.47 EPS for the current year.

Insider Activity

In other news, insider Benjamin J. Hindson sold 2,613 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total value of $121,086.42. Following the completion of the transaction, the insider now owns 283,059 shares of the company’s stock, valued at $13,116,954.06. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Benjamin J. Hindson sold 2,613 shares of 10x Genomics stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total value of $121,086.42. Following the completion of the transaction, the insider now owns 283,059 shares in the company, valued at $13,116,954.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Serge Saxonov sold 1,000 shares of 10x Genomics stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $49.53, for a total transaction of $49,530.00. Following the completion of the transaction, the chief executive officer now owns 855,381 shares of the company’s stock, valued at approximately $42,367,020.93. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,959 shares of company stock valued at $592,806. 10.65% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of 10x Genomics by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 9,011,332 shares of the company’s stock worth $504,274,000 after buying an additional 107,815 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of 10x Genomics by 0.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 372,873 shares of the company’s stock worth $20,866,000 after buying an additional 1,815 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of 10x Genomics by 2.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 38,446 shares of the company’s stock worth $2,151,000 after buying an additional 1,051 shares during the last quarter. Employees Retirement System of Texas purchased a new stake in shares of 10x Genomics during the 4th quarter worth approximately $463,000. Finally, Legal & General Group Plc lifted its position in shares of 10x Genomics by 0.6% during the 4th quarter. Legal & General Group Plc now owns 84,355 shares of the company’s stock worth $4,721,000 after buying an additional 501 shares during the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.