10x Genomics (NASDAQ:TXG) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen lowered shares of 10x Genomics (NASDAQ:TXG) from a buy rating to a hold rating in a research note released on Saturday morning.

Other analysts have also recently issued research reports about the stock. Bank of America increased their price objective on shares of 10x Genomics from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft set a $14.00 price objective on shares of 10x Genomics and gave the stock a “hold” rating in a report on Friday, August 8th. Morgan Stanley dropped their price objective on shares of 10x Genomics from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Tuesday, August 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 10x Genomics in a report on Saturday, August 30th. Finally, Zacks Research cut shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 5th. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.65.

10x Genomics Stock Performance

10x Genomics stock opened at $13.35 on Friday. The firm’s 50-day moving average is $13.24 and its 200-day moving average is $10.83. 10x Genomics has a 1 year low of $6.78 and a 1 year high of $24.38. The company has a market cap of $1.66 billion, a P/E ratio of -19.07 and a beta of 2.00.

10x Genomics (NASDAQ:TXG) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.63. 10x Genomics had a negative net margin of 13.13% and a negative return on equity of 12.88%. The business had revenue of $172.91 million for the quarter, compared to analysts’ expectations of $139.36 million. During the same quarter last year, the company earned ($0.32) EPS. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. 10x Genomics has set its Q3 2025 guidance at EPS. As a group, sell-side analysts predict that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Serge Saxonov sold 9,348 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $13.79, for a total transaction of $128,908.92. Following the completion of the sale, the chief executive officer directly owned 945,892 shares in the company, valued at approximately $13,043,850.68. This trade represents a 0.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Adam Taich sold 22,315 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $13.79, for a total transaction of $307,723.85. Following the sale, the chief financial officer owned 309,273 shares of the company’s stock, valued at approximately $4,264,874.67. This represents a 6.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,149 shares of company stock worth $539,865. 10.03% of the stock is owned by company insiders.

Institutional Trading of 10x Genomics

Several institutional investors have recently made changes to their positions in TXG. Allworth Financial LP boosted its holdings in shares of 10x Genomics by 150.4% during the second quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock worth $26,000 after purchasing an additional 1,364 shares during the period. GAMMA Investing LLC boosted its holdings in shares of 10x Genomics by 81.8% during the first quarter. GAMMA Investing LLC now owns 3,586 shares of the company’s stock worth $31,000 after purchasing an additional 1,614 shares during the period. GF Fund Management CO. LTD. acquired a new stake in shares of 10x Genomics during the fourth quarter worth approximately $32,000. Signaturefd LLC boosted its holdings in shares of 10x Genomics by 134.3% during the first quarter. Signaturefd LLC now owns 4,203 shares of the company’s stock worth $37,000 after purchasing an additional 2,409 shares during the period. Finally, Whittier Trust Co. acquired a new stake in 10x Genomics in the first quarter valued at approximately $41,000. 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.