10x Genomics (NASDAQ:TXG) Downgraded by Zacks Research to “Hold”

10x Genomics (NASDAQ:TXG) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Other analysts have also recently issued reports about the company. Morgan Stanley cut their price objective on 10x Genomics from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Tuesday, August 12th. Canaccord Genuity Group boosted their price target on shares of 10x Genomics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a research report on Tuesday, October 14th. Piper Sandler lifted their target price on shares of 10x Genomics from $15.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of 10x Genomics from $13.00 to $15.00 and gave the stock a “neutral” rating in a research note on Friday, November 7th. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $14.88.

10x Genomics Stock Performance

Shares of 10x Genomics stock opened at $16.59 on Monday. The firm has a 50-day simple moving average of $12.93 and a two-hundred day simple moving average of $11.91. 10x Genomics has a fifty-two week low of $6.78 and a fifty-two week high of $17.70. The company has a market cap of $2.07 billion, a P/E ratio of -26.76 and a beta of 2.13.

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

Insiders Place Their Bets

In related news, CFO Adam Taich sold 22,315 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 transaction of $307,723.85. Following the transaction, the chief financial officer directly owned 309,273 shares in the company, valued at approximately $4,264,874.67. The trade was a 6.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Benjamin J. Hindson sold 7,486 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $13.79, for a total transaction of $103,231.94. Following the sale, the insider directly owned 440,888 shares of the company’s stock, valued at approximately $6,079,845.52. This represents a 1.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 39,149 shares of company stock valued at $539,865 in the last 90 days. 10.03% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TXG. Allworth Financial LP grew its position in shares of 10x Genomics by 150.4% in the second quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock valued at $26,000 after purchasing an additional 1,364 shares in the last quarter. True Wealth Design LLC boosted its stake in 10x Genomics by 1,552.5% during the second quarter. True Wealth Design LLC now owns 3,586 shares of the company’s stock worth $42,000 after buying an additional 3,369 shares during the last quarter. Signaturefd LLC grew its holdings in 10x Genomics by 134.3% in the 1st quarter. Signaturefd LLC now owns 4,203 shares of the company’s stock valued at $37,000 after buying an additional 2,409 shares in the last quarter. Whittier Trust Co. purchased a new stake in 10x Genomics in the 1st quarter valued at $41,000. Finally, Abich Financial Wealth Management LLC acquired a new stake in shares of 10x Genomics in the 3rd quarter worth $56,000. 84.68% of the stock is owned by hedge funds and other 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.