10x Genomics (NASDAQ:TXG) Sets New 52-Week Low at $26.48

10x Genomics, Inc. (NASDAQ:TXG - Get Free Report) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $26.48 and last traded at $26.62, with a volume of 131771 shares traded. The stock had previously closed at $27.52.

Wall Street Analyst Weigh In

Several research firms have issued reports on TXG. Barclays decreased their price objective on shares of 10x Genomics from $55.00 to $45.00 and set an "overweight" rating for the company in a research note on Wednesday, April 10th. Stifel Nicolaus reduced their price objective on shares of 10x Genomics from $68.00 to $63.00 and set a "buy" rating on the stock in a research note on Friday, February 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of 10x Genomics from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Thursday, April 18th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $60.22.

10x Genomics Stock Performance

The stock's fifty day moving average is $38.12 and its two-hundred day moving average is $42.60. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of -12.40 and a beta of 1.90.

10x Genomics (NASDAQ:TXG - Get Free Report) last released its earnings results on Thursday, February 15th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.05). The company had revenue of $183.98 million for the quarter, compared to analyst estimates of $182.73 million. 10x Genomics had a negative net margin of 41.17% and a negative return on equity of 28.82%. The firm's quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.15) EPS. Sell-side analysts predict that 10x Genomics, Inc. will post -1.47 earnings per share for the current year.

Insider Activity

In other news, insider Benjamin J. Hindson sold 2,613 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 283,059 shares in the company, valued at approximately $13,116,954.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other 10x Genomics news, CEO Serge Saxonov sold 1,000 shares of the firm's stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $49.53, for a total value of $49,530.00. Following the completion of the transaction, the chief executive officer now directly owns 855,381 shares in the company, valued at $42,367,020.93. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Benjamin J. Hindson sold 2,613 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 283,059 shares of the company's stock, valued at $13,116,954.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,959 shares of company stock worth $592,806. Corporate insiders own 10.65% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TXG. FMR LLC lifted its position in shares of 10x Genomics by 56.4% in the third quarter. FMR LLC now owns 12,666,998 shares of the company's stock worth $522,514,000 after purchasing an additional 4,565,400 shares in the last quarter. Vanguard Group Inc. raised its position in 10x Genomics by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 9,011,332 shares of the company's stock valued at $504,274,000 after acquiring an additional 107,815 shares in the last quarter. ARK Investment Management LLC raised its position in 10x Genomics by 35.0% during the fourth quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company's stock valued at $226,150,000 after acquiring an additional 1,047,827 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in 10x Genomics by 58.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company's stock valued at $135,925,000 after acquiring an additional 1,338,248 shares in the last quarter. Finally, Brown Capital Management LLC raised its position in 10x Genomics by 14.5% during the fourth quarter. Brown Capital Management LLC now owns 3,527,297 shares of the company's stock valued at $197,388,000 after acquiring an additional 446,192 shares in the last quarter. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.