Weiss Ratings Reaffirms "Sell (E+)" Rating for 10x Genomics (NASDAQ:TXG)

Key Points

• 10x Genomics received a "sell (e+)" rating from Weiss Ratings, reaffirming ongoing cautious sentiment towards the stock.
• Recent earnings reports showed 10x Genomics beat analysts' EPS estimates at $0.28 and reported revenues of $172.91 million, surpassing expectations.
• Insider trading activity includes notable share sales from CFO Adam Taich and CEO Serge Saxonov, indicating potential concerns about stock performance.

Weiss Ratings reaffirmed their sell (e+) rating on shares of 10x Genomics (NASDAQ:TXG - Free Report) in a research note issued to investors on Saturday,Weiss Ratings reports.

A number of other research firms have also recently weighed in on TXG. JPMorgan Chase & Co. lowered their price objective on shares of 10x Genomics from $12.00 to $9.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Wall Street Zen upgraded 10x Genomics from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Stephens reiterated an "overweight" rating and set a $14.00 price target on shares of 10x Genomics in a research note on Thursday, May 15th. UBS Group raised their price objective on shares of 10x Genomics from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Finally, Morgan Stanley dropped their price objective on shares of 10x Genomics from $18.00 to $17.00 and set an "overweight" rating for the company in a report on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $13.54.

10x Genomics Stock Performance

Shares of 10x Genomics stock traded up $0.23 during trading hours on Friday, hitting $13.57. The company's stock had a trading volume of 1,709,156 shares, compared to its average volume of 2,840,047. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -19.39 and a beta of 2.00. 10x Genomics has a twelve month low of $6.78 and a twelve month high of $24.38. The firm has a fifty day moving average of $13.10 and a 200-day moving average of $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 (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $172.91 million for the quarter, compared to analyst estimates of $139.36 million. During the same period in the previous year, the firm earned ($0.32) EPS. 10x Genomics's revenue was up 12.9% on a year-over-year basis. 10x Genomics has set its Q3 2025 guidance at EPS. On average, sell-side analysts expect that 10x Genomics will post -1.43 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Benjamin J. Hindson sold 7,486 shares of the firm's 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 transaction, the insider directly owned 440,888 shares in the company, valued at approximately $6,079,845.52. This trade represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Serge Saxonov sold 9,348 shares of 10x Genomics stock in a transaction that occurred 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 in the company, valued at $13,043,850.68. This trade represents a 0.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,149 shares of company stock valued at $539,865. 9.39% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On 10x Genomics

Several institutional investors have recently bought and sold shares of TXG. Orion Porfolio Solutions LLC acquired a new stake in shares of 10x Genomics in the 2nd quarter worth $158,000. Nikko Asset Management Americas Inc. lifted its position 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 purchasing an additional 646,997 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in 10x Genomics by 167.9% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 22,069 shares of the company's stock valued at $256,000 after purchasing an additional 13,831 shares in the last quarter. Exome Asset Management LLC purchased a new stake in 10x Genomics in the 2nd quarter valued at approximately $1,895,000. Finally, Corient Private Wealth LLC acquired a new position in 10x Genomics during the 2nd quarter worth approximately $597,000. 84.68% of the stock is owned by institutional investors and hedge funds.

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.