10x Genomics (NASDAQ:TXG) Shares Down 5.7% - Should You Sell?

10x Genomics, Inc. (NASDAQ:TXG - Get Free Report)'s share price fell 5.7% during trading on Tuesday . The company traded as low as $9.85 and last traded at $9.80. 1,508,885 shares were traded during mid-day trading, a decline of 25% from the average session volume of 2,007,915 shares. The stock had previously closed at $10.39.

Analyst Ratings Changes

Several research analysts have issued reports on TXG shares. Barclays dropped their target price on 10x Genomics from $19.00 to $18.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of 10x Genomics in a research note on Saturday, March 22nd. Leerink Partnrs cut shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 13th. Citigroup lowered their target price on 10x Genomics from $20.00 to $15.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Finally, 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. One research analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $20.21.

10x Genomics Stock Down 2.7 %

The firm has a fifty day moving average price of $12.12 and a 200-day moving average price of $15.09. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -6.03 and a beta of 1.93.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate 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%. Equities research analysts anticipate that 10x Genomics, Inc. will post -1.43 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Serge Saxonov sold 5,092 shares of the firm's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $56,368.44. Following the completion of the transaction, the chief executive officer now directly owns 879,482 shares of the company's stock, valued at $9,735,865.74. This trade represents a 0.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Benjamin J. Hindson sold 4,573 shares of 10x Genomics 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 transaction, the insider now directly owns 335,324 shares of the company's stock, valued at approximately $3,712,036.68. The trade was a 1.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 10.03% of the company's stock.

Institutional Investors Weigh In On 10x Genomics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TXG. FMR LLC boosted its position in shares of 10x Genomics by 0.6% in the fourth quarter. FMR LLC now owns 13,454,434 shares of the company's stock valued at $193,206,000 after acquiring an additional 86,455 shares during the period. ARK Investment Management LLC increased its stake in shares of 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. RA Capital Management L.P. bought a new position in shares of 10x Genomics in the fourth quarter valued at $47,092,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of 10x Genomics by 10.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,573 shares of the company's stock valued at $30,394,000 after purchasing an additional 193,588 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in 10x Genomics in the fourth quarter valued at about $26,308,000. 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.