10x Genomics (NASDAQ:TXG) Stock Price Down 4.6% - Should You Sell?

Shares of 10x Genomics, Inc. (NASDAQ:TXG - Get Free Report) fell 4.6% on Tuesday . The company traded as low as $8.96 and last traded at $9.02. 534,648 shares traded hands during trading, a decline of 78% from the average session volume of 2,431,876 shares. The stock had previously closed at $9.45.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TXG. Morgan Stanley lowered their target price on 10x Genomics from $26.00 to $18.00 and set an "overweight" rating on the stock in a research note on Monday, May 19th. The Goldman Sachs Group lowered their price objective on 10x Genomics from $7.50 to $6.50 and set a "sell" rating on the stock in a research report on Monday, May 12th. Leerink Partners cut shares of 10x Genomics from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $25.00 to $12.00 in a research report on Thursday, February 13th. Leerink Partnrs downgraded shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 13th. Finally, Stephens reiterated an "overweight" rating and issued a $14.00 price objective on shares of 10x Genomics in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, 10x Genomics presently has a consensus rating of "Hold" and a consensus target price of $15.81.

10x Genomics Trading Up 3.4%

The business has a 50-day moving average of $8.46 and a two-hundred day moving average of $11.71. The firm has a market cap of $1.16 billion, a P/E ratio of -6.20 and a beta of 1.99.

10x Genomics (NASDAQ:TXG - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.09. The company had revenue of $154.88 million for the quarter, compared to analysts' expectations of $131.91 million. 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. The business's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.50) earnings per share. As a group, equities analysts expect that 10x Genomics, Inc. will post -1.43 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Adam Taich sold 4,044 shares of 10x Genomics stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total value of $33,565.20. Following the completion of the sale, the chief financial officer now owns 331,588 shares in the company, valued at $2,752,180.40. The trade was a 1.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Benjamin J. Hindson sold 7,485 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $62,125.50. Following the transaction, the insider now owns 448,374 shares in the company, valued at $3,721,504.20. The trade was a 1.64% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,872 shares of company stock worth $173,238. 9.39% of the stock is currently owned by insiders.

Institutional Investors Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently bought and sold shares of TXG. Signaturefd LLC raised its stake in 10x Genomics by 424.6% during the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company's stock worth $26,000 after buying an additional 1,452 shares during the period. GF Fund Management CO. LTD. bought a new position in shares of 10x Genomics in the 4th quarter worth $32,000. Blue Trust Inc. grew its position in 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 during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in 10x Genomics during the 4th quarter valued at $52,000. Finally, GAMMA Investing LLC raised its holdings in 10x Genomics by 81.8% during the first quarter. GAMMA Investing LLC now owns 3,586 shares of the company's stock worth $31,000 after buying an additional 1,614 shares during the last quarter. 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.