10x Genomics (NASDAQ:TXG) Hits New 52-Week Low – Time to Sell?

10x Genomics, Inc. (NASDAQ:TXG) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $10.38 and last traded at $10.39, with a volume of 150772 shares trading hands. The stock had previously closed at $10.69.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Morgan Stanley cut their price objective on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Leerink Partnrs downgraded 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 13th. Leerink Partners downgraded 10x Genomics from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $25.00 to $12.00 in a research report on Thursday, February 13th. Stifel Nicolaus dropped their target price on 10x Genomics from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $20.57.

10x Genomics Stock Down 3.0 %

The stock has a market cap of $1.27 billion, a P/E ratio of -6.79 and a beta of 1.85. The firm has a 50 day simple moving average of $14.00 and a 200-day simple moving average of $16.76.

10x Genomics (NASDAQ:TXG) last announced 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, equities analysts anticipate that 10x Genomics, Inc. will post -1.43 earnings per share for the current year.

Insider Transactions at 10x Genomics

In related news, Director Alan Mateo bought 40,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average cost of $11.14 per share, with a total value of $445,600.00. Following the transaction, the director now directly owns 61,691 shares in the company, valued at approximately $687,237.74. This trade represents a 184.41 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benjamin J. Hindson sold 4,573 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $50,623.11. Following the transaction, the insider now directly owns 335,324 shares of the company’s stock, valued at approximately $3,712,036.68. This represents a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 10.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Signaturefd LLC increased its position in 10x Genomics by 424.6% in 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. purchased a new position in 10x Genomics in the fourth quarter valued at approximately $32,000. Capital Performance Advisors LLP bought a new position in 10x Genomics during the third quarter valued at $35,000. Blue Trust Inc. grew its holdings in 10x Genomics by 73.1% during the fourth 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 during the period. Finally, Sound Income Strategies LLC grew its holdings in 10x Genomics by 65.2% during 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. 84.68% of the stock is owned by institutional investors.

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.