10x Genomics (NASDAQ:TXG) Trading 11.2% Higher After Analyst Upgrade

10x Genomics (NASDAQ:TXG) was up 11.2% during trading on Monday after Canaccord Genuity Group raised their price target on the stock from $16.00 to $19.00. Canaccord Genuity Group currently has a buy rating on the stock. 10x Genomics traded as high as $16.89 and last traded at $16.9640. 1,939,262 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 3,218,383 shares. The stock had previously closed at $15.25.

Other equities analysts also recently issued research reports about the stock. 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 research note on Tuesday, August 12th. UBS Group increased their price target on 10x Genomics from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Friday. Wall Street Zen upgraded 10x Genomics from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft set a $14.00 target price on 10x Genomics and gave the company a “hold” rating in a research report on Friday, August 8th. Finally, Zacks Research upgraded 10x Genomics from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.58.

Insider Activity

In other 10x Genomics news, CFO Adam Taich sold 22,315 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $13.79, for a total transaction of $307,723.85. Following the sale, the chief financial officer owned 309,273 shares of the company’s stock, valued at approximately $4,264,874.67. This represents a 6.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Serge Saxonov sold 9,348 shares of the business’s 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 completion of the transaction, the chief executive officer directly owned 945,892 shares in the company, valued at $13,043,850.68. This represents a 0.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 39,149 shares of company stock valued at $539,865. 10.03% of the stock is currently owned by insiders.

Institutional Trading of 10x Genomics

Several hedge funds have recently bought and sold shares of TXG. Teacher Retirement System of Texas increased its stake in 10x Genomics by 6.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 14,931 shares of the company’s stock valued at $173,000 after purchasing an additional 858 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of 10x Genomics by 3.0% during the third quarter. Arizona State Retirement System now owns 29,586 shares of the company’s stock valued at $346,000 after buying an additional 872 shares during the last quarter. Versant Capital Management Inc increased its position in shares of 10x Genomics by 3.3% during the third quarter. Versant Capital Management Inc now owns 29,364 shares of the company’s stock worth $343,000 after acquiring an additional 945 shares in the last quarter. True Wealth Design LLC lifted its position in 10x Genomics by 26.4% in the 3rd quarter. True Wealth Design LLC now owns 4,534 shares of the company’s stock valued at $53,000 after acquiring an additional 948 shares in the last quarter. Finally, Kera Capital Partners Inc. lifted its position in 10x Genomics by 4.0% in the 3rd quarter. Kera Capital Partners Inc. now owns 32,269 shares of the company’s stock valued at $377,000 after acquiring an additional 1,251 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

10x Genomics Trading Up 11.3%

The stock has a market capitalization of $2.11 billion, a P/E ratio of -27.38 and a beta of 2.13. The business has a fifty day simple moving average of $12.81 and a 200 day simple moving average of $11.79.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Thursday, November 6th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.05. The company had revenue of $149.00 million for the quarter, compared to analysts’ expectations of $142.50 million. 10x Genomics had a negative return on equity of 11.71% and a negative net margin of 11.89%.10x Genomics’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.30) earnings per share. 10x Genomics has set its Q4 2025 guidance at EPS. As a group, research analysts forecast that 10x Genomics will post -1.43 earnings per share for the current year.

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.