10x Genomics (NASDAQ:TXG) Shares Down 10% – Time to Sell?

10x Genomics, Inc. (NASDAQ:TXG) was down 10% during trading on Thursday . The stock traded as low as $14.49 and last traded at $14.67. Approximately 365,930 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 1,797,244 shares. The stock had previously closed at $16.31.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TXG. Barclays reduced their target price on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, November 1st. The Goldman Sachs Group decreased their target price on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. cut their price target on shares of 10x Genomics from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, October 30th. Morgan Stanley reduced their price target on shares of 10x Genomics from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Finally, Stephens reiterated an “overweight” rating and issued a $30.00 price objective on shares of 10x Genomics in a research report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, 10x Genomics presently has an average rating of “Moderate Buy” and an average price target of $23.86.

10x Genomics Stock Down 0.6 %

The stock’s fifty day moving average price is $15.02 and its two-hundred day moving average price is $17.85.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.04. The business had revenue of $151.65 million during the quarter, compared to analyst estimates of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The company’s revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.51) earnings per share. On average, research analysts predict that 10x Genomics, Inc. will post -1.43 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TXG. China Universal Asset Management Co. Ltd. bought a new stake in 10x Genomics during the 4th quarter valued at $326,000. KBC Group NV increased its position in shares of 10x Genomics by 57.3% in the fourth quarter. KBC Group NV now owns 5,072 shares of the company’s stock valued at $73,000 after acquiring an additional 1,847 shares during the period. Blue Trust Inc. raised its stake in shares of 10x Genomics by 73.1% during the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock valued at $44,000 after acquiring an additional 1,299 shares during the last quarter. Sound Income Strategies LLC boosted its holdings in shares of 10x Genomics by 65.2% during the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock worth $48,000 after purchasing an additional 1,330 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of 10x Genomics by 209.8% in the fourth quarter. SG Americas Securities LLC now owns 73,046 shares of the company’s stock worth $1,049,000 after purchasing an additional 49,468 shares during the last quarter. Institutional investors own 84.68% of the company’s stock.

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.