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

10x Genomics, Inc. (NASDAQ:TXG)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $26.48 and last traded at $26.62, with a volume of 131771 shares. The stock had previously closed at $27.52.

Analysts Set New Price Targets

TXG has been the topic of a number of analyst reports. Stifel Nicolaus reduced their price objective on shares of 10x Genomics from $68.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, February 16th. Deutsche Bank Aktiengesellschaft reduced their price objective 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. Finally, Barclays reduced their price objective on shares of 10x Genomics from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.22.

10x Genomics Trading Down 2.1 %

The firm’s 50-day moving average is $38.54 and its 200 day moving average is $42.71.

10x Genomics (NASDAQ:TXG) last posted its earnings results 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 return on equity of 28.82% and a negative net margin of 41.17%. The business had revenue of $183.98 million for the quarter, compared to analyst estimates of $182.73 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. Analysts predict that 10x Genomics, Inc. will post -1.47 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Serge Saxonov sold 4,660 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $44.00, for a total transaction of $205,040.00. Following the sale, the chief executive officer now directly owns 842,900 shares in the company, valued at $37,087,600. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Justin J. Mcanear sold 1,865 shares of the company’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 $86,424.10. Following the transaction, the chief financial officer now directly owns 95,240 shares in the company, valued at $4,413,421.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Serge Saxonov sold 4,660 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $44.00, for a total value of $205,040.00. Following the completion of the sale, the chief executive officer now directly owns 842,900 shares of the company’s stock, valued at approximately $37,087,600. The disclosure for this sale can be found here. Insiders have sold a total of 12,959 shares of company stock worth $592,806 in the last ninety days. Company insiders own 10.65% of the company’s stock.

Institutional Trading of 10x Genomics

Several hedge funds and other institutional investors have recently bought and sold shares of TXG. Allspring Global Investments Holdings LLC boosted its stake in shares of 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. UMB Bank n.a. boosted its stake in shares of 10x Genomics by 51.6% during the fourth quarter. UMB Bank n.a. now owns 782 shares of the company’s stock valued at $44,000 after purchasing an additional 266 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of 10x Genomics during the fourth quarter valued at approximately $66,000. Van ECK Associates Corp boosted its stake in shares of 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 purchasing an additional 362 shares during the period. Finally, Powell Investment Advisors LLC purchased a new stake in shares of 10x Genomics during the fourth quarter valued at approximately $200,000. 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.