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

Key Points

• 10x Genomics has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating a shift in analyst sentiment regarding the stock.
• The stock currently has a consensus price target of $13.65 and was trading down approximately 3.2% recently.
• Despite the downgrade, 10x Genomics reported strong quarterly earnings, with revenue of $172.91 million and earnings per share (EPS) of $0.28, significantly exceeding analyst expectations.

10x Genomics (NASDAQ:TXG - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

TXG has been the topic of several other reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of 10x Genomics in a research report on Saturday, August 30th. Bank of America boosted their target price on shares of 10x Genomics from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Thursday, June 26th. Morgan Stanley dropped their target price on shares of 10x Genomics from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Tuesday, August 12th. UBS Group boosted their price target on shares of 10x Genomics from $12.00 to $13.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Finally, Canaccord Genuity Group set a $16.00 target price on shares of 10x Genomics in a research note on Monday, August 11th. Six investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, 10x Genomics currently has an average rating of "Hold" and an average price target of $13.65.

10x Genomics Stock Performance

Shares of 10x Genomics stock traded up $0.41 during midday trading on Friday, reaching $13.27. 2,220,010 shares of the company's stock traded hands, compared to its average volume of 2,160,642. The company has a market cap of $1.65 billion, a price-to-earnings ratio of -18.96 and a beta of 2.00. The company's 50 day simple moving average is $13.28 and its 200 day simple moving average is $10.88. 10x Genomics has a 52 week low of $6.78 and a 52 week high of $24.38.

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

Insider Buying and Selling at 10x Genomics

In other news, CEO Serge Saxonov sold 9,348 shares of the 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Adam Taich sold 22,315 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $13.79, for a total transaction of $307,723.85. Following the transaction, the chief financial officer directly owned 309,273 shares in the company, 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. Insiders sold a total of 39,149 shares of company stock worth $539,865 over the last quarter. 9.39% of the stock is currently owned by insiders.

Hedge Funds Weigh In On 10x Genomics

Several hedge funds have recently bought and sold shares of TXG. Allworth Financial LP grew its holdings in shares of 10x Genomics by 150.4% during the 2nd quarter. Allworth Financial LP now owns 2,271 shares of the company's stock valued at $26,000 after purchasing an additional 1,364 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of 10x Genomics by 81.8% in the 1st 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 position in shares of 10x Genomics in the 4th quarter worth approximately $32,000. Signaturefd LLC increased its stake in shares of 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 acquiring an additional 2,409 shares in the last quarter. Finally, Whittier Trust Co. bought a new stake in shares of 10x Genomics in the 1st quarter valued at $41,000. 84.68% of the stock is owned by institutional investors.

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.