10x Genomics (NASDAQ:TXG) Reaches New 12-Month Low - Time to Sell?

10x Genomics, Inc. (NASDAQ:TXG - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $13.67 and last traded at $13.73, with a volume of 314522 shares trading hands. The stock had previously closed at $14.12.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. UBS Group reduced their price objective on shares of 10x Genomics from $25.00 to $20.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. reduced their price target on 10x Genomics from $20.00 to $14.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group raised 10x Genomics from a "hold" rating to a "buy" rating and set a $24.00 price target for the company in a research note on Monday, July 22nd. Barclays reduced their target price on 10x Genomics from $21.00 to $19.00 and set an "overweight" rating on the stock in a report on Friday, November 1st. Finally, The Goldman Sachs Group lowered their price target on shares of 10x Genomics from $16.00 to $14.00 and set a "sell" rating for the company in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $29.19.

10x Genomics Trading Down 5.5 %

The firm has a market cap of $1.61 billion, a P/E ratio of -8.81 and a beta of 1.87. The company's 50-day moving average is $18.59 and its two-hundred day moving average is $20.56.

10x Genomics (NASDAQ:TXG - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share for the quarter, beating analysts' consensus estimates of ($0.34) by $0.04. The company had revenue of $151.65 million for the quarter, compared to analyst estimates of $158.84 million. 10x Genomics had a negative return on equity of 25.07% and a negative net margin of 28.93%. The company's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.51) earnings per share. Research analysts anticipate that 10x Genomics, Inc. will post -1.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Justin J. Mcanear sold 2,961 shares of the firm's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $66,711.33. Following the completion of the sale, the chief financial officer now owns 143,242 shares in the company, valued at approximately $3,227,242.26. This trade represents a 2.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Benjamin J. Hindson sold 4,351 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $98,028.03. Following the transaction, the insider now directly owns 345,704 shares of the company's stock, valued at $7,788,711.12. This represents a 1.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,061 shares of company stock valued at $316,794. Corporate insiders own 10.03% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of TXG. FMR LLC lifted its holdings in shares of 10x Genomics by 2.7% in the third quarter. FMR LLC now owns 13,367,979 shares of the company's stock worth $301,849,000 after buying an additional 357,470 shares in the last quarter. ARK Investment Management LLC lifted its stake in 10x Genomics by 15.4% in the 3rd quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company's stock worth $242,743,000 after purchasing an additional 1,436,582 shares in the last quarter. Vanguard Group Inc. lifted its stake in 10x Genomics by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company's stock worth $341,581,000 after purchasing an additional 90,204 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of 10x Genomics by 3.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,373,212 shares of the company's stock valued at $143,907,000 after purchasing an additional 230,145 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of 10x Genomics by 69.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company's stock valued at $119,483,000 after purchasing an additional 2,521,289 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

About 10x Genomics

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.