10x Genomics (NASDAQ:TXG) Cut to Hold at Zacks Research

Zacks Research downgraded shares of 10x Genomics (NASDAQ:TXG) from a strong-buy rating to a hold rating in a report issued on Monday morning,Zacks.com reports.

Other analysts have also issued research reports about the company. Piper Sandler lifted their price objective on 10x Genomics from $15.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of 10x Genomics in a research note on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft set a $14.00 price target on shares of 10x Genomics and gave the company a “hold” rating in a report on Friday, August 8th. Canaccord Genuity Group raised their price objective on shares of 10x Genomics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Finally, Wall Street Zen raised shares of 10x Genomics from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.88.

10x Genomics Stock Performance

NASDAQ:TXG opened at $16.69 on Monday. The firm’s 50-day moving average is $13.00 and its 200-day moving average is $11.95. The company has a market cap of $2.08 billion, a price-to-earnings ratio of -26.92 and a beta of 2.13. 10x Genomics has a 52-week low of $6.78 and a 52-week high of $17.70.

10x Genomics (NASDAQ:TXG) last released its earnings results on Thursday, November 6th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. 10x Genomics had a negative return on equity of 11.50% and a negative net margin of 11.89%.The business had revenue of $149.00 million for the quarter, compared to the consensus estimate of $142.50 million. During the same period last year, the business earned ($0.30) earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. 10x Genomics has set its Q4 2025 guidance at EPS. Equities analysts predict that 10x Genomics will post -1.43 EPS for the current year.

Insider Activity at 10x Genomics

In other news, insider Benjamin J. Hindson sold 7,486 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $13.79, for a total value of $103,231.94. Following the completion of the sale, the insider directly owned 440,888 shares in the company, valued at approximately $6,079,845.52. This trade represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Serge Saxonov sold 9,348 shares of 10x Genomics stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $13.79, for a total value of $128,908.92. Following the completion of the transaction, the chief executive officer directly owned 945,892 shares of the company’s stock, valued at $13,043,850.68. This represents a 0.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 39,149 shares of company stock valued at $539,865 in the last three months. Corporate insiders own 9.39% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its stake in shares of 10x Genomics by 150.4% in the second quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock worth $26,000 after acquiring an additional 1,364 shares during the last quarter. True Wealth Design LLC lifted its holdings in 10x Genomics by 1,552.5% during the 2nd quarter. True Wealth Design LLC now owns 3,586 shares of the company’s stock worth $42,000 after buying an additional 3,369 shares in the last quarter. Signaturefd LLC boosted its position in 10x Genomics by 134.3% in the 1st quarter. Signaturefd LLC now owns 4,203 shares of the company’s stock valued at $37,000 after buying an additional 2,409 shares during the last quarter. Whittier Trust Co. bought a new position in 10x Genomics in the 1st quarter valued at $41,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of 10x Genomics in the 3rd quarter valued at $56,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.