10x Genomics (NASDAQ:TXG) Sets New 12-Month Low Following Analyst Downgrade

10x Genomics, Inc. (NASDAQ:TXG - Get Free Report) shares reached a new 52-week low during trading on Monday after Barclays lowered their price target on the stock from $19.00 to $18.00. Barclays currently has an overweight rating on the stock. 10x Genomics traded as low as $12.37 and last traded at $12.59, with a volume of 1016713 shares trading hands. The stock had previously closed at $14.25.

TXG has been the topic of a number of other research reports. Citigroup dropped their price target on 10x Genomics from $35.00 to $23.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. The Goldman Sachs Group cut their target price on shares of 10x Genomics from $16.00 to $14.00 and set a "sell" rating on the stock in a research report on Wednesday, October 30th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of 10x Genomics in a research report on Saturday, February 1st. JPMorgan Chase & Co. cut their price objective on shares of 10x Genomics from $20.00 to $14.00 and set a "neutral" rating on the stock in a report on Wednesday, October 30th. Finally, Morgan Stanley lowered their target price on 10x Genomics from $30.00 to $28.00 and set an "overweight" rating for the company in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $23.79.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TXG. Signaturefd LLC raised its position in 10x Genomics by 424.6% in the fourth quarter. Signaturefd LLC now owns 1,794 shares of the company's stock valued at $26,000 after purchasing an additional 1,452 shares during the period. GAMMA Investing LLC raised its holdings in shares of 10x Genomics by 451.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company's stock valued at $35,000 after buying an additional 1,265 shares during the period. Capital Performance Advisors LLP acquired a new position in 10x Genomics during the 3rd quarter worth about $35,000. Blue Trust Inc. boosted its holdings in 10x Genomics by 136.5% during the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company's stock valued at $40,000 after acquiring an additional 1,025 shares during the period. Finally, Sound Income Strategies LLC acquired a new position in 10x Genomics in the 3rd quarter valued at about $46,000. 84.68% of the stock is owned by institutional investors and hedge funds.

10x Genomics Price Performance

The company has a market capitalization of $1.45 billion, a PE ratio of -7.84 and a beta of 1.85. The stock's 50 day simple moving average is $14.98 and its 200-day simple moving average is $17.56.

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.