10x Genomics, Inc. (NASDAQ:TXG - Get Free Report)'s share price hit a new 52-week low on Thursday . The stock traded as low as $8.53 and last traded at $8.85, with a volume of 3155267 shares. The stock had previously closed at $8.67.
Analysts Set New Price Targets
A number of research firms have recently issued reports on TXG. Canaccord Genuity Group cut their target price on shares of 10x Genomics from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Leerink Partners downgraded 10x Genomics from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $25.00 to $12.00 in a research report on Thursday, February 13th. UBS Group reduced their price objective on 10x Genomics from $20.00 to $14.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus lowered their target price on 10x Genomics from $21.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Finally, Barclays reduced their price target on shares of 10x Genomics from $19.00 to $18.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $20.21.
Check Out Our Latest Research Report on 10x Genomics
10x Genomics Trading Up 1.5 %
The business's fifty day simple moving average is $11.26 and its 200 day simple moving average is $14.45. The stock has a market cap of $927.05 million, a price-to-earnings ratio of -4.99 and a beta of 2.01.
10x Genomics (NASDAQ:TXG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.08). 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. As a group, research analysts anticipate that 10x Genomics, Inc. will post -1.43 earnings per share for the current year.
Insider Transactions at 10x Genomics
In related news, insider Benjamin J. Hindson sold 4,573 shares of the company's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $50,623.11. Following the completion of the sale, the insider now owns 335,324 shares in the company, valued at $3,712,036.68. This represents a 1.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alan Mateo bought 40,000 shares of 10x Genomics stock in a transaction on Friday, February 21st. The shares were acquired at an average price of $11.14 per share, for a total transaction of $445,600.00. Following the completion of the acquisition, the director now owns 61,691 shares of the company's stock, valued at approximately $687,237.74. This represents a 184.41 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 10.03% of the company's stock.
Institutional Investors Weigh In On 10x Genomics
Several large investors have recently modified their holdings of the business. RA Capital Management L.P. acquired a new stake in 10x Genomics during the 4th quarter worth approximately $47,092,000. Assenagon Asset Management S.A. bought a new stake in shares of 10x Genomics during the fourth quarter worth $26,308,000. D. E. Shaw & Co. Inc. acquired a new stake in shares of 10x Genomics during the fourth quarter worth $17,499,000. ARK Investment Management LLC lifted its position in 10x Genomics by 11.1% in the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company's stock valued at $171,517,000 after acquiring an additional 1,193,712 shares in the last quarter. Finally, Two Sigma Investments LP boosted its stake in 10x Genomics by 291.2% in the 4th quarter. Two Sigma Investments LP now owns 1,319,487 shares of the company's stock worth $18,948,000 after purchasing an additional 982,203 shares during the period. 84.68% of the stock is currently owned by institutional investors.
About 10x Genomics
(
Get Free Report)
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.
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