10x Genomics (NASDAQ:TXG) Hits New 1-Year Low – Time to Sell?

10x Genomics, Inc. (NASDAQ:TXG)’s share price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $10.75 and last traded at $10.79, with a volume of 186282 shares trading hands. The stock had previously closed at $10.90.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TXG. Stifel Nicolaus lowered their price objective on shares of 10x Genomics from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. Barclays reduced their target price on shares of 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Leerink Partnrs cut shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note 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 for the company in a research note on Thursday, February 13th. Finally, Morgan Stanley decreased their target price on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.57.

10x Genomics Stock Performance

The business’s fifty day simple moving average is $14.31 and its 200-day simple moving average is $17.08. The firm has a market capitalization of $1.38 billion, a PE ratio of -7.43 and a beta of 1.85.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) 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%. Sell-side analysts expect that 10x Genomics, Inc. will post -1.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On 10x Genomics

Hedge funds have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in 10x Genomics during the third quarter valued at $35,000. Blue Trust Inc. increased its holdings in shares of 10x Genomics by 136.5% in the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after buying an additional 1,025 shares during the last quarter. Signaturefd LLC raised its position in shares of 10x Genomics by 424.6% during the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock valued at $26,000 after buying an additional 1,452 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of 10x Genomics in the 4th quarter valued at about $32,000. Finally, Venturi Wealth Management LLC grew its position in 10x Genomics by 1,108.9% in the third quarter. Venturi Wealth Management LLC now owns 2,442 shares of the company’s stock worth $55,000 after acquiring an additional 2,240 shares in the last quarter. 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.