10x Genomics (NASDAQ:TXG) Stock Price Down 5.7% – Time to Sell?

10x Genomics, Inc. (NASDAQ:TXG)’s share price fell 5.7% during mid-day trading on Tuesday . The company traded as low as $9.85 and last traded at $9.80. 1,508,885 shares were traded during trading, a decline of 25% from the average session volume of 2,007,915 shares. The stock had previously closed at $10.39.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TXG. Barclays decreased their price target on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. UBS Group decreased their target price on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Leerink Partners lowered 10x Genomics from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $25.00 to $12.00 in a research report on Thursday, February 13th. JPMorgan Chase & Co. reduced their price objective on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, Canaccord Genuity Group cut their target price on 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $20.21.

10x Genomics Stock Down 6.2 %

The business has a 50-day simple moving average of $12.57 and a 200-day simple moving average of $15.38. The company has a market cap of $1.19 billion, a PE ratio of -6.41 and a beta of 1.93.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.08). 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. As a group, equities research analysts predict that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

Insider Buying and Selling at 10x Genomics

In other news, insider Benjamin J. Hindson sold 4,573 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $50,623.11. Following the transaction, the insider now directly owns 335,324 shares in the company, valued at $3,712,036.68. The trade was a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Serge Saxonov sold 5,092 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $11.07, for a total transaction of $56,368.44. Following the completion of the sale, the chief executive officer now owns 879,482 shares of the company’s stock, valued at approximately $9,735,865.74. The trade was a 0.58 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 10.03% of the company’s stock.

Institutional Trading of 10x Genomics

Institutional investors have recently modified their holdings of the business. Signaturefd LLC raised its position in 10x Genomics by 424.6% in the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $26,000 after acquiring an additional 1,452 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of 10x Genomics in the 4th quarter valued at about $32,000. Blue Trust Inc. increased its holdings in shares of 10x Genomics by 73.1% in the 4th quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock valued at $44,000 after purchasing an additional 1,299 shares in the last quarter. Sound Income Strategies LLC lifted its stake in shares of 10x Genomics by 65.2% in the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock valued at $48,000 after purchasing an additional 1,330 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in 10x Genomics during the fourth quarter worth about $52,000. 84.68% of the stock is currently owned by hedge funds and other institutional investors.

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.