10x Genomics (NASDAQ:TXG) Stock Price Up 11.2% Following Analyst Upgrade

10x Genomics (NASDAQ:TXG) shares traded up 11.2% during trading on Monday after Canaccord Genuity Group raised their price target on the stock from $16.00 to $19.00. Canaccord Genuity Group currently has a buy rating on the stock. 10x Genomics traded as high as $16.89 and last traded at $16.9640. 1,939,262 shares were traded during trading, a decline of 40% from the average session volume of 3,218,383 shares. The stock had previously closed at $15.25.

Several other equities analysts have also weighed in on the company. Barclays raised their target price on 10x Genomics from $15.00 to $17.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group increased their price target on 10x Genomics from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price objective on 10x Genomics from $13.00 to $15.00 and gave the company a “neutral” rating in a research note on Friday. 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. Finally, Zacks Research raised shares of 10x Genomics from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, 10x Genomics currently has an average rating of “Hold” and a consensus target price of $14.58.

Insider Buying and Selling

In other 10x Genomics news, CFO Adam Taich sold 22,315 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $13.79, for a total value of $307,723.85. Following the transaction, the chief financial officer directly owned 309,273 shares in the company, valued at $4,264,874.67. This represents a 6.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Benjamin J. Hindson sold 7,486 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were 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. The trade was a 1.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 39,149 shares of company stock worth $539,865 over the last ninety days. 10.03% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On 10x Genomics

Institutional investors have recently made changes to their positions in the stock. Allworth Financial LP increased its stake in 10x Genomics by 150.4% in the second quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock valued at $26,000 after acquiring an additional 1,364 shares during the last quarter. Signaturefd LLC lifted its stake in 10x Genomics by 134.3% in 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 last quarter. Whittier Trust Co. purchased a new stake in 10x Genomics during the first quarter valued at about $41,000. True Wealth Design LLC boosted its position in 10x Genomics by 1,552.5% during the second quarter. True Wealth Design LLC now owns 3,586 shares of the company’s stock valued at $42,000 after buying an additional 3,369 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of 10x Genomics by 153.6% in the first quarter. PNC Financial Services Group Inc. now owns 5,150 shares of the company’s stock worth $45,000 after buying an additional 3,119 shares during the period. Institutional investors own 84.68% of the company’s stock.

10x Genomics Stock Up 11.3%

The company has a fifty day moving average price of $12.81 and a 200 day moving average price of $11.79. The stock has a market cap of $2.11 billion, a PE ratio of -27.38 and a beta of 2.13.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.05. The company had revenue of $149.00 million during the quarter, compared to analyst estimates of $142.50 million. 10x Genomics had a negative net margin of 11.89% and a negative return on equity of 11.71%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.30) EPS. 10x Genomics has set its Q4 2025 guidance at EPS. As a group, research analysts predict that 10x Genomics will post -1.43 earnings per share for the current year.

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.