10x Genomics (NASDAQ:TXG) Hits New 1-Year Low Following Analyst Downgrade

Shares of 10x Genomics, Inc. (NASDAQ:TXG) reached a new 52-week low during mid-day 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 changing hands. The stock had previously closed at $14.25.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley decreased their target price on 10x Genomics from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Citigroup decreased their target price on 10x Genomics from $35.00 to $23.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. The Goldman Sachs Group decreased their target price on 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a research report on Wednesday, October 30th. UBS Group decreased their target price on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. decreased their target price on 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, 10x Genomics currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.79.

Institutional Trading of 10x Genomics

Several institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC raised its stake in 10x Genomics by 2.7% during the third quarter. FMR LLC now owns 13,367,979 shares of the company’s stock valued at $301,849,000 after buying an additional 357,470 shares in the last quarter. ARK Investment Management LLC raised its position in shares of 10x Genomics by 11.1% during the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company’s stock worth $171,517,000 after purchasing an additional 1,193,712 shares during the period. Sumitomo Mitsui Trust Group Inc. raised 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 worth $143,907,000 after purchasing an additional 230,145 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of 10x Genomics during the 4th quarter worth approximately $26,308,000. Finally, Geode Capital Management LLC raised its position in shares of 10x Genomics by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,815,710 shares of the company’s stock worth $41,009,000 after purchasing an additional 42,777 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

10x Genomics Trading Down 14.3 %

The business has a 50-day moving average price of $15.06 and a two-hundred day moving average price of $17.62. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -7.98 and a beta of 1.85.

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.