Zacks Research Downgrades 10x Genomics (NASDAQ:TXG) to Hold

10x Genomics (NASDAQ:TXG) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

TXG has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft set a $14.00 price objective on 10x Genomics and gave the stock a “hold” rating in a research report on Friday, August 8th. Morgan Stanley reduced their price target on shares of 10x Genomics from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 12th. Barclays upped their price objective on shares of 10x Genomics from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 10x Genomics in a report on Tuesday, October 14th. Finally, JPMorgan Chase & Co. upped their price target on 10x Genomics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $14.88.

10x Genomics Stock Performance

TXG stock opened at $16.59 on Monday. 10x Genomics has a one year low of $6.78 and a one year high of $17.70. The firm has a market cap of $2.07 billion, a PE ratio of -26.76 and a beta of 2.13. The firm’s 50 day moving average price is $12.93 and its 200-day moving average price is $11.91.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.05. 10x Genomics had a negative return on equity of 11.50% and a negative net margin of 11.89%.The company had revenue of $149.00 million during the quarter, compared to analyst estimates of $142.50 million. During the same period in the prior year, the business posted ($0.30) earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. 10x Genomics has set its Q4 2025 guidance at EPS. Equities research analysts predict that 10x Genomics will post -1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Adam Taich sold 22,315 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 $307,723.85. Following the sale, the chief financial officer directly owned 309,273 shares in the company, valued at approximately $4,264,874.67. This trade represents a 6.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Benjamin J. Hindson sold 7,486 shares of 10x Genomics stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $13.79, for a total value of $103,231.94. Following the completion of the transaction, the insider owned 440,888 shares of the company’s stock, valued at approximately $6,079,845.52. This trade represents a 1.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 39,149 shares of company stock worth $539,865 in the last ninety days. 10.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On 10x Genomics

Hedge funds have recently bought and sold shares of the stock. Allworth Financial LP grew its position in shares of 10x Genomics by 150.4% during the second quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock worth $26,000 after buying an additional 1,364 shares in the last quarter. Signaturefd LLC raised its holdings in 10x Genomics by 134.3% in the first quarter. Signaturefd LLC now owns 4,203 shares of the company’s stock valued at $37,000 after acquiring an additional 2,409 shares in the last quarter. Whittier Trust Co. purchased a new position in 10x Genomics in the first quarter worth approximately $41,000. True Wealth Design LLC grew its holdings in 10x Genomics by 1,552.5% during the 2nd quarter. True Wealth Design LLC now owns 3,586 shares of the company’s stock worth $42,000 after acquiring an additional 3,369 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in 10x Genomics by 153.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,150 shares of the company’s stock worth $45,000 after acquiring an additional 3,119 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.