10x Genomics (NASDAQ:TXG) Hits New 12-Month High - What's Next?

Key Points

• 10x Genomics hit a new 52-week high of $24.30 (last $23.58) on Tuesday, trading above its 50‑day and 200‑day moving averages ($20.15 and $17.71) with a market cap of about $3.01 billion.
• Analysts hold a consensus rating of Hold (5 Buys, 10 Holds, 2 Sells) with an average price target of $18.89, though some brokers have recently raised targets (Stifel to $25).
• The firm beat the quarter (EPS -$0.13 vs. -$0.19 expected; revenue $166.03M vs. $160.35M expected) but remains unprofitable with negative margins and an expected full‑year EPS around -1.43.

10x Genomics (NASDAQ:TXG - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $24.30 and last traded at $23.58, with a volume of 2682364 shares. The stock had previously closed at $23.27.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on TXG shares. Weiss Ratings reissued a "sell (d-)" rating on shares of 10x Genomics in a research report on Friday, March 27th. UBS Group raised their price target on shares of 10x Genomics from $14.00 to $20.00 and gave the stock a "neutral" rating in a research note on Friday, February 20th. William Blair upgraded shares of 10x Genomics from a "market perform" rating to an "outperform" rating in a research note on Tuesday, March 31st. Canaccord Genuity Group set a $22.00 price target on shares of 10x Genomics in a research note on Friday, February 13th. Finally, Stifel Nicolaus raised their price target on shares of 10x Genomics from $20.00 to $25.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $18.89.

10x Genomics Stock Performance

The company's 50 day moving average price is $20.15 and its 200-day moving average price is $17.71. The company has a market cap of $3.01 billion, a PE ratio of -67.37 and a beta of 2.17.

10x Genomics (NASDAQ:TXG - Get Free Report) last issued its quarterly earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. The company had revenue of $166.03 million during the quarter, compared to analyst estimates of $160.35 million. During the same quarter last year, the business posted ($0.40) EPS. 10x Genomics's quarterly revenue was up .6% compared to the same quarter last year. Equities research analysts expect that 10x Genomics will post -1.43 EPS for the current year.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CFO Adam Taich sold 8,968 shares of the business's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total transaction of $166,625.44. Following the sale, the chief financial officer owned 288,417 shares of the company's stock, valued at $5,358,787.86. The trade was a 3.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Benjamin J. Hindson sold 7,826 shares of the business's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $18.58, for a total transaction of $145,407.08. Following the sale, the insider directly owned 424,779 shares in the company, valued at $7,892,393.82. The trade was a 1.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 41,426 shares of company stock valued at $779,895 in the last 90 days. 10.03% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On 10x Genomics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Foundations Investment Advisors LLC bought a new stake in 10x Genomics during the 3rd quarter valued at $665,000. AlphaQuest LLC grew its position in shares of 10x Genomics by 234.3% during the 3rd quarter. AlphaQuest LLC now owns 133,419 shares of the company's stock valued at $1,560,000 after purchasing an additional 93,514 shares in the last quarter. Friedenthal Financial purchased a new position in shares of 10x Genomics during the 3rd quarter valued at $924,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of 10x Genomics during the 3rd quarter valued at $1,179,000. Finally, JPMorgan Chase & Co. grew its position in shares of 10x Genomics by 777.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,073,865 shares of the company's stock valued at $12,553,000 after purchasing an additional 951,495 shares in the last quarter. Institutional investors own 84.68% of the company's stock.

10x Genomics Company Profile

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.

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