10x Genomics (NASDAQ:TXG) Hits New 12-Month Low at $22.24

10x Genomics, Inc. (NASDAQ:TXGGet Free Report)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $22.24 and last traded at $22.57, with a volume of 49370 shares. The stock had previously closed at $22.59.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. UBS Group dropped their price objective on 10x Genomics from $52.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. TD Cowen cut 10x Genomics from a “buy” rating to a “hold” rating and dropped their target price for the company from $57.00 to $32.00 in a research report on Wednesday, May 1st. Stifel Nicolaus lowered their price objective on 10x Genomics from $63.00 to $53.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on 10x Genomics from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Finally, The Goldman Sachs Group lowered their price objective on 10x Genomics from $30.00 to $26.00 and set a “sell” rating for the company in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $48.50.

Check Out Our Latest Research Report on 10x Genomics

10x Genomics Stock Performance

The company has a market cap of $2.70 billion, a PE ratio of -10.13 and a beta of 1.94. The stock has a 50 day moving average of $30.47 and a 200-day moving average of $40.70.

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 analysts’ consensus estimates of ($0.50). The company had revenue of $141.01 million during the quarter, compared to analyst estimates of $142.24 million. 10x Genomics had a negative return on equity of 30.85% and a negative net margin of 42.20%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.44) EPS. Equities research analysts forecast that 10x Genomics, Inc. will post -1.55 EPS for the current year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,087 shares of 10x Genomics stock in a transaction dated 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 owns 350,055 shares in the company, valued at approximately $8,506,336.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Benjamin J. Hindson sold 4,087 shares of 10x Genomics stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $24.30, for a total value of $99,314.10. Following the completion of the transaction, the insider now owns 350,055 shares in the company, valued at approximately $8,506,336.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Serge Saxonov sold 4,877 shares of 10x Genomics stock in a transaction dated 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 owns 889,641 shares of the company’s stock, valued at approximately $21,618,276.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,560 shares of company stock worth $494,210. Insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Several institutional investors have recently bought and sold shares of the company. FMR LLC boosted its holdings in 10x Genomics by 56.4% in the 3rd quarter. FMR LLC now owns 12,666,998 shares of the company’s stock worth $522,514,000 after buying an additional 4,565,400 shares during the last quarter. Vanguard Group Inc. boosted its holdings in 10x Genomics by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock worth $341,581,000 after buying an additional 90,204 shares during the last quarter. ARK Investment Management LLC boosted its holdings in shares of 10x Genomics by 35.0% during the 4th quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock worth $226,150,000 after purchasing an additional 1,047,827 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 worth $137,257,000 after purchasing an additional 553,053 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of 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 worth $135,925,000 after purchasing an additional 1,338,248 shares during the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

10x Genomics Company Profile

(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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