10x Genomics (NASDAQ:TXG) Hits New 1-Year Low at $39.45

10x Genomics, Inc. (NASDAQ:TXGGet Rating) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $39.45 and last traded at $39.65, with a volume of 2165758 shares traded. The stock had previously closed at $45.35.

A number of equities analysts have issued reports on the company. Citigroup reduced their target price on 10x Genomics from $150.00 to $100.00 in a report on Thursday, May 5th. Cowen reduced their target price on 10x Genomics from $205.00 to $145.00 in a report on Thursday, February 17th. Zacks Investment Research upgraded 10x Genomics from a “sell” rating to a “hold” rating in a report on Thursday, February 17th. Finally, The Goldman Sachs Group reduced their target price on 10x Genomics from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, April 13th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $128.57.

The firm has a market cap of $5.37 billion, a P/E ratio of -60.29 and a beta of 1.92. The company has a fifty day moving average price of $62.38 and a two-hundred day moving average price of $102.85.

10x Genomics (NASDAQ:TXGGet Rating) last announced its earnings results on Wednesday, May 4th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.07). 10x Genomics had a negative net margin of 17.85% and a negative return on equity of 11.13%. The firm had revenue of $114.50 million during the quarter, compared to analyst estimates of $113.33 million. During the same period in the prior year, the business posted ($0.11) EPS. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. Research analysts anticipate that 10x Genomics, Inc. will post -0.91 earnings per share for the current fiscal year.

In related news, insider Bradford Crutchfield sold 17,000 shares of 10x Genomics stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $95.13, for a total value of $1,617,210.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Serge Saxonov sold 551 shares of the business’s stock in a transaction that occurred on Tuesday, February 22nd. The stock was sold at an average price of $78.60, for a total value of $43,308.60. The disclosure for this sale can be found here. In the last three months, insiders sold 18,199 shares of company stock worth $1,711,448. 11.57% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of TXG. Wolff Wiese Magana LLC acquired a new position in shares of 10x Genomics during the 4th quarter worth approximately $29,000. Covestor Ltd acquired a new position in shares of 10x Genomics during the 4th quarter worth approximately $32,000. Koshinski Asset Management Inc. increased its holdings in shares of 10x Genomics by 46.4% during the 1st quarter. Koshinski Asset Management Inc. now owns 536 shares of the company’s stock worth $41,000 after acquiring an additional 170 shares during the last quarter. National Bank of Canada FI acquired a new position in shares of 10x Genomics during the 4th quarter worth approximately $43,000. Finally, CI Investments Inc. acquired a new position in shares of 10x Genomics during the 3rd quarter worth approximately $51,000. 76.25% of the stock is currently owned by hedge funds and other institutional investors.

About 10x Genomics (NASDAQ:TXG)

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in North America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium and chromium connect instruments, microfluidic chips, slides, reagents, and other consumables products.

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