10x Genomics (NASDAQ:TXG) Hits New 52-Week Low – Should You Sell?

10x Genomics, Inc. (NASDAQ:TXG)’s stock price reached a new 52-week low on Monday . The stock traded as low as $10.75 and last traded at $10.79, with a volume of 186282 shares changing hands. The stock had previously closed at $10.90.

Analyst Upgrades and Downgrades

TXG has been the topic of a number of research analyst reports. UBS Group reduced their price objective on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. 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. Citigroup decreased their price target on shares of 10x Genomics from $23.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Morgan Stanley cut their price objective on 10x Genomics from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Finally, Canaccord Genuity Group decreased their target price on 10x Genomics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. One investment 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.57.

10x Genomics Trading Up 3.6 %

The company has a market cap of $1.38 billion, a P/E ratio of -7.43 and a beta of 1.85. The stock’s 50 day moving average is $14.31 and its 200-day moving average is $17.08.

10x Genomics (NASDAQ:TXG) last issued its earnings results on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) 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%. As a group, sell-side analysts forecast that 10x Genomics, Inc. will post -1.43 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC raised its position in 10x Genomics by 424.6% in the 4th quarter. Signaturefd LLC now owns 1,794 shares of the company’s stock worth $26,000 after buying an additional 1,452 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in shares of 10x Genomics in the fourth quarter worth approximately $32,000. Capital Performance Advisors LLP bought a new stake in 10x Genomics in the 3rd quarter worth approximately $35,000. Blue Trust Inc. lifted its holdings in shares of 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 buying an additional 1,025 shares during the period. Finally, Sound Income Strategies LLC boosted its stake in shares of 10x Genomics by 65.2% in the 4th quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock worth $48,000 after buying an additional 1,330 shares during 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.