10x Genomics (NASDAQ:TXG) Receives Consensus Recommendation of "Hold" from Brokerages

Key Points

• 10x Genomics has received a consensus recommendation of "Hold" from 13 research firms, with 6 firms issuing buy ratings and 1 sell rating.
• The average twelve-month price target for the stock among brokerages is $13.54, with Deutsche Bank setting a price objective of $14.00 and Barclays at $15.00.
• In its recent quarterly earnings, 10x Genomics reported $0.28 earnings per share, exceeding expectations, and revenue of $172.91 million, which was above analyst forecasts.

Shares of 10x Genomics (NASDAQ:TXG - Get Free Report) have been given an average recommendation of "Hold" by the thirteen research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $13.5417.

Several brokerages have weighed in on TXG. Deutsche Bank Aktiengesellschaft set a $14.00 price objective on shares of 10x Genomics and gave the stock a "hold" rating in a research note on Friday, August 8th. Barclays reaffirmed an "overweight" rating and set a $15.00 price objective (up from $13.00) on shares of 10x Genomics in a research note on Friday, August 8th. Wall Street Zen raised shares of 10x Genomics from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Bank of America increased their price target on shares of 10x Genomics from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Finally, Stephens reissued an "overweight" rating and set a $14.00 price target on shares of 10x Genomics in a research note on Thursday, May 15th.

10x Genomics Trading Up 2.9%

Shares of 10x Genomics stock opened at $13.96 on Friday. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -19.94 and a beta of 2.00. 10x Genomics has a 1-year low of $6.78 and a 1-year high of $24.38. The firm's 50-day moving average price is $13.15 and its two-hundred day moving average price is $10.74.

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

Insider Activity

In other news, insider Benjamin J. Hindson sold 7,486 shares of the 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 $103,231.94. Following the sale, the insider directly owned 440,888 shares of the company's stock, valued at $6,079,845.52. This represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Adam Taich sold 22,315 shares of the 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 $307,723.85. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,149 shares of company stock valued at $539,865 over the last three months. 9.39% of the stock is owned by insiders.

Hedge Funds Weigh In On 10x Genomics

Several large investors have recently bought and sold shares of the business. Orion Porfolio Solutions LLC acquired a new position in 10x Genomics in the second quarter valued at approximately $158,000. Nikko Asset Management Americas Inc. lifted its holdings in 10x Genomics by 12.1% in the second quarter. Nikko Asset Management Americas Inc. now owns 6,009,653 shares of the company's stock valued at $69,532,000 after buying an additional 646,997 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in 10x Genomics by 167.9% in the second quarter. CANADA LIFE ASSURANCE Co now owns 22,069 shares of the company's stock valued at $256,000 after buying an additional 13,831 shares during the period. Exome Asset Management LLC acquired a new position in 10x Genomics in the second quarter valued at approximately $1,895,000. Finally, Corient Private Wealth LLC acquired a new position in 10x Genomics in the second quarter valued at approximately $597,000. 84.68% of the stock is currently owned by institutional investors and hedge funds.

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.

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