10x Genomics (NASDAQ:TXG) Trading Down 7.6% - What's Next?

Key Points

• 10x Genomics stock fell by 7.6% during mid-day trading, reaching a low of $11.72, significantly below its previous close of $12.64.
• Analysts have mixed views on the stock with six ratings as Buy, eight as Hold, and two as Sell, while the average price target is $13.65.
• Despite the recent downturn, the company reported better-than-expected quarterly earnings of $0.28 per share, compared to analysts' estimates of ($0.35).

10x Genomics (NASDAQ:TXG - Get Free Report)'s stock price fell 7.6% during mid-day trading on Tuesday . The stock traded as low as $11.72 and last traded at $11.69. 1,429,043 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 3,263,911 shares. The stock had previously closed at $12.64.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group set a $16.00 price target on 10x Genomics in a report on Monday, August 11th. Weiss Ratings reiterated a "sell (e+)" rating on shares of 10x Genomics in a report on Saturday, September 27th. Zacks Research downgraded 10x Genomics from a "strong-buy" rating to a "hold" rating in a report on Friday, September 5th. Bank of America increased their price target on 10x Genomics from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. Finally, Barclays reiterated an "overweight" rating and issued a $15.00 price target (up from $13.00) on shares of 10x Genomics in a report on Friday, August 8th. Six analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, 10x Genomics has an average rating of "Hold" and an average target price of $13.65.

10x Genomics Trading Down 8.2%

The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -16.57 and a beta of 2.05. The company has a fifty day moving average price of $13.13 and a 200-day moving average price of $11.02.

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, topping analysts' consensus estimates of ($0.35) by $0.63. The company had revenue of $172.91 million during the quarter, compared to analysts' expectations of $139.36 million. 10x Genomics had a negative return on equity of 12.88% and a negative net margin of 13.13%.10x Genomics's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.32) EPS. 10x Genomics has set its Q3 2025 guidance at EPS. As a group, research analysts forecast that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 10x Genomics news, CEO Serge Saxonov sold 9,348 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $13.79, for a total transaction of $128,908.92. Following the completion of the sale, the chief executive officer directly owned 945,892 shares in the company, valued at approximately $13,043,850.68. The trade was a 0.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin J. Hindson sold 7,486 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $13.79, for a total value of $103,231.94. Following the sale, the insider owned 440,888 shares of the company's stock, valued at approximately $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. In the last three months, insiders sold 39,149 shares of company stock worth $539,865. Corporate insiders own 10.03% of the company's stock.

Institutional Investors Weigh In On 10x Genomics

A number of large investors have recently made changes to their positions in TXG. Wealth Enhancement Advisory Services LLC grew its position in shares of 10x Genomics by 19.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 28,497 shares of the company's stock valued at $409,000 after purchasing an additional 4,545 shares in the last quarter. GAMMA Investing LLC grew its position in shares of 10x Genomics by 1,487.5% in the first quarter. GAMMA Investing LLC now owns 31,306 shares of the company's stock valued at $273,000 after purchasing an additional 29,334 shares in the last quarter. Rhumbline Advisers grew its position in shares of 10x Genomics by 11.4% in the first quarter. Rhumbline Advisers now owns 120,490 shares of the company's stock valued at $1,052,000 after purchasing an additional 12,374 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of 10x Genomics in the first quarter valued at approximately $208,000. Finally, SG Americas Securities LLC grew its position in shares of 10x Genomics by 12.8% in the first quarter. SG Americas Securities LLC now owns 82,406 shares of the company's stock valued at $719,000 after purchasing an additional 9,360 shares in the last quarter. 84.68% of the stock is currently owned by hedge funds and other 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.

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