10x Genomics (NASDAQ:TXG) Trading Up 7.1% - Still a Buy?

Key Points

• 10x Genomics shares saw a significant increase of 7.1%, closing at $12.53, although trading volume was down 86% from the average.
• Wall Street analysts have mixed opinions on the stock, with six rating it a Buy, eight a Hold, and one a Sell, setting an average price target of $13.65.
• The company's recent earnings report showed $172.91 million in revenue, exceeding expectations, and $0.28 earnings per share, up from a loss of $0.32 per share the previous year.

10x Genomics (NASDAQ:TXG - Get Free Report) shares rose 7.1% during trading on Wednesday . The stock traded as high as $12.37 and last traded at $12.53. Approximately 465,654 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 3,274,023 shares. The stock had previously closed at $11.69.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of 10x Genomics in a research note on Saturday, September 13th. Bank of America raised 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 Thursday, June 26th. Canaccord Genuity Group set a $16.00 price target on 10x Genomics in a report on Monday, August 11th. Deutsche Bank Aktiengesellschaft set a $14.00 price objective on 10x Genomics and gave the stock a "hold" rating in a research note on Friday, August 8th. Finally, Piper Sandler assumed coverage on shares of 10x Genomics in a report on Thursday, September 11th. They issued a "neutral" rating and a $15.00 price objective for the company. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $13.65.

10x Genomics Stock Up 5.0%

The firm has a fifty day moving average of $13.25 and a 200 day moving average of $10.96. The stock has a market cap of $1.53 billion, a PE ratio of -17.51 and a beta of 2.00.

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

Insiders Place Their Bets

In related 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 sale, the chief executive officer directly owned 945,892 shares of the company's stock, valued at approximately $13,043,850.68. This represents a 0.98% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Adam Taich sold 22,315 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $13.79, for a total transaction of $307,723.85. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,149 shares of company stock worth $539,865. 10.03% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TXG. Allworth Financial LP boosted its stake 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 worth $26,000 after purchasing an additional 1,364 shares during the last quarter. GAMMA Investing LLC grew its stake in 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 acquiring an additional 1,614 shares during the period. True Wealth Design LLC raised its holdings in 10x Genomics by 1,552.5% in the 2nd quarter. True Wealth Design LLC now owns 3,586 shares of the company's stock valued at $42,000 after acquiring an additional 3,369 shares during the last quarter. Signaturefd LLC lifted its stake in shares of 10x Genomics by 134.3% during the 1st quarter. Signaturefd LLC now owns 4,203 shares of the company's stock worth $37,000 after purchasing an additional 2,409 shares during the period. Finally, Whittier Trust Co. purchased a new stake in shares of 10x Genomics in the first quarter valued at $41,000. Institutional investors and hedge funds own 84.68% of the company's stock.

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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