10x Genomics (NASDAQ:TXG) Upgraded to "Buy" at Wall Street Zen

Key Points

• 10x Genomics was upgraded to a "Buy" rating by Wall Street Zen, indicating strong confidence in the stock's future performance.
• Barclays raised its target price for 10x Genomics from $13.00 to $15.00, reflecting positive sentiment among analysts regarding the stock.
• 10x Genomics reported a revenue increase of 12.9% year-over-year, achieving $172.91 million for the most recent quarter, significantly surpassing analyst estimates.

10x Genomics (NASDAQ:TXG - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Friday.

Several other research firms also recently commented on TXG. Barclays reaffirmed an "overweight" rating and issued a $15.00 target price (up previously from $13.00) on shares of 10x Genomics in a research report on Friday, August 8th. Piper Sandler initiated coverage on 10x Genomics in a research report on Thursday, September 11th. They issued a "neutral" rating and a $15.00 target price on the stock. Canaccord Genuity Group set a $16.00 price target on 10x Genomics in a research note on Monday, August 11th. Weiss Ratings reiterated a "sell (e+)" rating on shares of 10x Genomics in a research note on Saturday, September 27th. Finally, UBS Group boosted their price target on 10x Genomics from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, 10x Genomics currently has a consensus rating of "Hold" and an average target price of $13.65.

10x Genomics Stock Up 3.6%

Shares of 10x Genomics stock traded up $0.44 on Friday, hitting $12.75. The stock had a trading volume of 2,423,999 shares, compared to its average volume of 2,646,052. 10x Genomics has a twelve month low of $6.78 and a twelve month high of $20.92. The business's 50 day moving average is $13.17 and its two-hundred day moving average is $10.99. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -18.21 and a beta of 2.05.

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

Insider Buying and Selling at 10x Genomics

In other news, insider Benjamin J. Hindson sold 7,486 shares of the stock in a transaction 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 completion of the transaction, the insider directly owned 440,888 shares in the company, valued at approximately $6,079,845.52. This represents a 1.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Serge Saxonov sold 9,348 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $13.79, for a total value of $128,908.92. Following the completion of the transaction, the chief executive officer owned 945,892 shares of the company's stock, valued at $13,043,850.68. The trade was a 0.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,149 shares of company stock valued at $539,865. 9.39% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TXG. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in 10x Genomics by 235.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,103,768 shares of the company's stock worth $62,016,000 after purchasing an additional 4,987,195 shares during the last quarter. Millennium Management LLC raised its position in 10x Genomics by 434.5% during the 1st quarter. Millennium Management LLC now owns 5,377,492 shares of the company's stock worth $46,946,000 after purchasing an additional 4,371,327 shares during the last quarter. AQR Capital Management LLC raised its position in 10x Genomics by 241.3% during the 2nd quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company's stock worth $47,916,000 after purchasing an additional 2,925,372 shares during the last quarter. Quantinno Capital Management LP raised its position in 10x Genomics by 207.2% during the 2nd quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company's stock worth $25,864,000 after purchasing an additional 1,506,530 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in 10x Genomics by 3,619.6% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,166,723 shares of the company's stock worth $10,185,000 after purchasing an additional 1,135,356 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.