10x Genomics (NASDAQ:TXG) Reaches New 1-Year Low at $24.52

10x Genomics, Inc. (NASDAQ:TXG)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $24.52 and last traded at $24.77, with a volume of 94410 shares traded. The stock had previously closed at $25.01.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. TD Cowen cut shares of 10x Genomics from a “buy” rating to a “hold” rating and dropped their target price for the stock from $57.00 to $32.00 in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft decreased their target price on 10x Genomics from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Bank of America dropped their price target on 10x Genomics from $45.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Barclays dropped their target price on 10x Genomics from $55.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. Finally, The Goldman Sachs Group reduced their price target on shares of 10x Genomics from $30.00 to $26.00 and set a “sell” rating for the company in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $48.50.

10x Genomics Price Performance

The firm’s 50-day simple moving average is $31.59 and its 200 day simple moving average is $41.12.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Tuesday, April 30th. The company reported ($0.50) earnings per share for the quarter, hitting the consensus estimate of ($0.50). The business 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 company’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the company posted ($0.44) EPS. On average, equities analysts anticipate that 10x Genomics, Inc. will post -1.55 EPS for the current year.

Insider Activity

In related news, insider Benjamin J. Hindson sold 2,613 shares of 10x Genomics stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total transaction of $121,086.42. Following the completion of the sale, 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 through the SEC website. In related news, insider Benjamin J. Hindson sold 2,613 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total transaction of $121,086.42. Following the completion of the sale, the insider now directly owns 283,059 shares of the company’s stock, valued at approximately $13,116,954.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Serge Saxonov sold 4,660 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were 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 in the company, valued at approximately $37,087,600. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,959 shares of company stock worth $543,276. 10.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On 10x Genomics

A number of hedge funds have recently made changes to their positions in the company. Swedbank AB acquired a new position in shares of 10x Genomics during the first quarter worth approximately $675,000. Jacobs Levy Equity Management Inc. bought a new position in 10x Genomics in the 1st quarter valued at $3,647,000. Bellevue Group AG increased its stake in shares of 10x Genomics by 5.2% in the 1st quarter. Bellevue Group AG now owns 308,311 shares of the company’s stock valued at $11,571,000 after buying an additional 15,138 shares during the period. Bamco Inc. NY increased its stake in shares of 10x Genomics by 59.4% in the 1st quarter. Bamco Inc. NY now owns 314,862 shares of the company’s stock valued at $11,817,000 after buying an additional 117,300 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of 10x Genomics by 17.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock worth $137,257,000 after acquiring an additional 553,053 shares during the last quarter. Institutional investors and hedge funds 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.