10x Genomics (NASDAQ:TXG) Given Average Rating of “Hold” by Analysts

Shares of 10x Genomics (NASDAQ:TXG) have received a consensus recommendation of “Hold” from the sixteen research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $38.3077.

Several analysts have recently commented on the company. Morgan Stanley raised their target price on 10x Genomics from $37.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, August 7th. Barclays upped their price target on 10x Genomics from $30.00 to $40.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Canaccord Genuity Group increased their price target on 10x Genomics from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, August 10th. Zacks Research cut 10x Genomics from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of 10x Genomics in a research note on Wednesday, June 24th.

10x Genomics News Roundup

Here are the key news stories impacting 10x Genomics this week:

• Positive Sentiment: Recent quarterly results offered some fundamental support: 10x Genomics reported an adjusted loss of $0.14 per share, better than the expected $0.24 loss, while revenue of $151.0 million exceeded estimates of $146.7 million. Several analysts subsequently raised their price targets, including Stephens to $65 and Canaccord Genuity to $60.
• Neutral Sentiment: CEO Serge Saxonov, CFO Adam Taich and insider Benjamin Hindson sold a combined approximately $3.12 million of shares. The transactions reduced their holdings by 1.68% to 4.52% and were reported as sales to cover tax obligations from vested equity awards, making them a less negative signal than discretionary insider selling. Each continues to hold a substantial position. Insider sales report CEO sale report
• Negative Sentiment: Director Shehnaaz Suliman sold 2,207 shares for approximately $140,476, reducing her direct ownership by 6.96%. The filing did not identify tax withholding as the reason, creating a modestly cautious insider signal. Director sale report
• Negative Sentiment: 10x Genomics remains unprofitable, with analysts expecting a full-year loss of approximately $0.75 per share. Revenue also declined 12.7% year over year in the latest quarter, while the consensus price target of $38.31 is substantially below the stock’s recent level, highlighting valuation and execution risk after its sharp rally.

10x Genomics Stock Up 0.9%

10x Genomics stock opened at $64.85 on Friday. 10x Genomics has a 12-month low of $11.16 and a 12-month high of $66.94. The firm’s fifty day moving average is $47.62 and its 200 day moving average is $31.62. The company has a market capitalization of $8.45 billion, a PE ratio of -109.91 and a beta of 2.03.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.10. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The business had revenue of $151.04 million during the quarter, compared to analysts’ expectations of $146.67 million. During the same period last year, the company posted $0.28 earnings per share. The business’s quarterly revenue was down 12.7% on a year-over-year basis. Sell-side analysts expect that 10x Genomics will post -0.75 EPS for the current fiscal year.

Insider Buying and Selling

In other 10x Genomics news, CFO Adam Taich sold 17,166 shares of the business’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $63.02, for a total transaction of $1,081,801.32. Following the completion of the sale, the chief financial officer owned 362,732 shares in the company, valued at approximately $22,859,370.64. The trade was a 4.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Serge Saxonov sold 30,000 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $34.44, for a total transaction of $1,033,200.00. Following the sale, the chief executive officer owned 1,108,380 shares of the company’s stock, valued at $38,172,607.20. This trade represents a 2.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 107,459 shares of company stock worth $5,636,735 over the last quarter. Corporate insiders own 8.84% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TXG. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of 10x Genomics during the second quarter worth about $2,377,000. California State Teachers Retirement System raised its holdings in shares of 10x Genomics by 3,700.4% in the 2nd quarter. California State Teachers Retirement System now owns 4,679,895 shares of the company’s stock worth $179,427,000 after acquiring an additional 4,556,753 shares during the last quarter. HB Wealth Management LLC bought a new position in 10x Genomics in the 2nd quarter valued at about $285,000. Three Seasons Wealth LLC bought a new position in 10x Genomics in the 2nd quarter valued at about $208,000. Finally, Concurrent Investment Advisors LLC acquired a new position in 10x Genomics during the 2nd quarter valued at about $213,000. 84.68% of the stock is owned by institutional investors.

About 10x Genomics

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.