10x Genomics (NASDAQ:TXG) Lowered to Hold Rating by Zacks Research

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

Other equities research analysts have also recently issued reports about the company. Morgan Stanley dropped their price target on 10x Genomics from $18.00 to $17.00 and set an “overweight” rating for the company in a report on Tuesday, August 12th. Deutsche Bank Aktiengesellschaft set a $14.00 target price on 10x Genomics and gave the company a “hold” rating in a research note on Friday, August 8th. Canaccord Genuity Group upped their price target on shares of 10x Genomics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. JPMorgan Chase & Co. raised their price objective on shares of 10x Genomics from $13.00 to $15.00 and gave the company a “neutral” rating in a research report on Friday, November 7th. Finally, Barclays boosted their target price on shares of 10x Genomics from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, 10x Genomics presently has an average rating of “Hold” and an average price target of $14.88.

10x Genomics Stock Up 0.3%

Shares of 10x Genomics stock opened at $16.64 on Monday. 10x Genomics has a 12-month low of $6.78 and a 12-month high of $17.70. The stock has a market capitalization of $2.07 billion, a P/E ratio of -26.82 and a beta of 2.13. The company has a 50-day simple moving average of $12.93 and a 200 day simple moving average of $11.91.

10x Genomics (NASDAQ:TXG) last released 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 firm had revenue of $149.00 million for 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 11.50%. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.30) earnings per share. 10x Genomics has set its Q4 2025 guidance at EPS. On average, equities analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current year.

Insider Transactions at 10x Genomics

In other news, CFO Adam Taich sold 22,315 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 $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 trade represents a 6.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Serge Saxonov sold 9,348 shares of the company’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 $128,908.92. Following the completion of the sale, the chief executive officer owned 945,892 shares of the company’s stock, valued at $13,043,850.68. This represents a 0.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 39,149 shares of company stock worth $539,865 in the last three months. Insiders own 10.03% of the company’s stock.

Institutional Trading of 10x Genomics

A number of institutional investors and hedge funds have recently modified their holdings of TXG. Allworth Financial LP boosted its stake in 10x Genomics by 150.4% during the 2nd 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. Signaturefd LLC increased its stake in 10x Genomics by 134.3% in the first quarter. Signaturefd LLC now owns 4,203 shares of the company’s stock valued at $37,000 after purchasing an additional 2,409 shares in the last quarter. Whittier Trust Co. acquired a new stake in 10x Genomics in the first quarter worth $41,000. True Wealth Design LLC boosted its position in shares of 10x Genomics by 1,552.5% during the second quarter. True Wealth Design LLC now owns 3,586 shares of the company’s stock worth $42,000 after purchasing an additional 3,369 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of 10x Genomics by 153.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,150 shares of the company’s stock valued at $45,000 after buying an additional 3,119 shares during the period. 84.68% of the stock is owned by institutional investors.

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.