10x Genomics (NASDAQ:TXG) Stock Price Up 6.2% - Still a Buy?

Key Points

• Shares of 10x Genomics (NASDAQ:TXG) rose by 6.2% to $12.63, with trading volume significantly down at 912,610 shares, compared to the average of 3.23 million shares.
• Analysts have varied opinions on the stock, with Zacks upgrading it to a "strong-buy" and others providing price targets ranging from $12.00 to $18.00, while the average rating remains "hold."
• The company reported a positive earnings surprise, with $0.28 EPS against an expected ($0.35), and revenues of $172.91 million beating analyst estimates of $139.36 million.

Shares of 10x Genomics (NASDAQ:TXG - Get Free Report) rose 6.2% during mid-day trading on Thursday . The stock traded as high as $12.51 and last traded at $12.63. Approximately 912,610 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 3,230,044 shares. The stock had previously closed at $11.89.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Zacks Research raised shares of 10x Genomics from a "hold" rating to a "strong-buy" rating in a research report on Thursday, October 9th. Morgan Stanley cut their price objective on shares of 10x Genomics from $18.00 to $17.00 and set an "overweight" rating for the company in a research report on Tuesday, August 12th. Wall Street Zen raised shares of 10x Genomics from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. UBS Group upped their price target on 10x Genomics from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Finally, Piper Sandler began coverage on 10x Genomics in a report on Thursday, September 11th. They issued a "neutral" rating and a $15.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $13.65.

10x Genomics Price Performance

The stock has a market capitalization of $1.54 billion, a P/E ratio of -17.69 and a beta of 2.05. The company's 50 day simple moving average is $12.89 and its two-hundred day simple moving average is $11.10.

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. On average, research analysts anticipate that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Insider Activity

In other news, 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 of the company's stock, valued at $4,264,874.67. This represents a 6.73% 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, 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 in the company, valued at $6,079,845.52. This trade represents a 1.67% 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. Friedenthal Financial acquired a new position in 10x Genomics in the third quarter valued at approximately $924,000. Lancaster Investment Management acquired a new position in 10x Genomics in the third quarter valued at approximately $7,269,000. Grant Private Wealth Management Inc acquired a new position in 10x Genomics in the third quarter valued at approximately $141,000. Mirador Capital Partners LP lifted its holdings in 10x Genomics by 2.2% in the third quarter. Mirador Capital Partners LP now owns 81,182 shares of the company's stock valued at $949,000 after buying an additional 1,739 shares during the period. Finally, Aaron Wealth Advisors LLC acquired a new position in 10x Genomics in the third quarter valued at approximately $462,000. 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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