10x Genomics (NASDAQ:TXG) Sets New 52-Week Low – Here’s What Happened

10x Genomics, Inc. (NASDAQ:TXG) hit a new 52-week low on Thursday . The company traded as low as $8.53 and last traded at $8.85, with a volume of 3155267 shares. The stock had previously closed at $8.67.

Analyst Upgrades and Downgrades

TXG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. dropped their price target on 10x Genomics from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Leerink Partnrs cut shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 13th. UBS Group decreased their price target on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Barclays cut their target price on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of 10x Genomics in a research note on Saturday, March 22nd. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, 10x Genomics presently has an average rating of “Hold” and an average target price of $20.21.

10x Genomics Trading Down 6.3 %

The company has a market capitalization of $913.60 million, a P/E ratio of -4.91 and a beta of 1.93. The stock’s fifty day moving average is $11.41 and its 200 day moving average is $14.66.

10x Genomics (NASDAQ:TXG) last posted its 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 return on equity of 25.40% and a negative net margin of 29.90%. On average, analysts expect that 10x Genomics, Inc. will post -1.43 EPS for the current fiscal year.

Insider Activity

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,573 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 value of $50,623.11. Following the completion of the sale, the insider now directly owns 335,324 shares in the company, valued at $3,712,036.68. This trade represents a 1.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Alan Mateo acquired 40,000 shares of the business’s stock in a transaction on Friday, February 21st. The shares were purchased at an average cost of $11.14 per share, for a total transaction of $445,600.00. Following the completion of the transaction, the director now owns 61,691 shares in the company, valued at approximately $687,237.74. This represents a 184.41 % increase in their position. The disclosure for this purchase can be found here. Insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Hedge funds have recently made changes to their positions in the company. FMR LLC lifted its position in 10x Genomics by 0.6% during the fourth quarter. FMR LLC now owns 13,454,434 shares of the company’s stock valued at $193,206,000 after buying an additional 86,455 shares during the period. ARK Investment Management LLC increased its stake in shares of 10x Genomics by 11.1% in the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock worth $171,517,000 after acquiring an additional 1,193,712 shares in the last quarter. RA Capital Management L.P. purchased a new position in 10x Genomics during the 4th quarter valued at about $47,092,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in 10x Genomics by 10.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,573 shares of the company’s stock worth $30,394,000 after acquiring an additional 193,588 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in 10x Genomics in the fourth quarter worth about $26,308,000. 84.68% of the stock is currently owned by 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.