10x Genomics (NASDAQ:TXG) Shares Down 5.5% – What’s Next?

Shares of 10x Genomics (NASDAQ:TXG) traded down 5.5% during mid-day trading on Tuesday . The stock traded as low as $18.97 and last traded at $19.0240. 2,315,063 shares were traded during trading, a decline of 28% from the average session volume of 3,233,625 shares. The stock had previously closed at $20.13.

Analysts Set New Price Targets

TXG has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on 10x Genomics from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Canaccord Genuity Group raised their price target on shares of 10x Genomics from $16.00 to $19.00 and gave the company a “buy” rating in a report on Friday, November 7th. Deutsche Bank Aktiengesellschaft set a $14.00 price objective on shares of 10x Genomics and gave the stock a “hold” rating in a research note on Friday, August 8th. Barclays lifted their price target 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. Finally, Zacks Research lowered 10x Genomics from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.88.

10x Genomics Stock Down 5.6%

The company has a market cap of $2.40 billion, a price-to-earnings ratio of -30.63 and a beta of 2.13. The company has a 50 day moving average price of $13.55 and a 200-day moving average price of $12.44.

10x Genomics (NASDAQ:TXG) last posted 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 the consensus estimate of $142.50 million. 10x Genomics had a negative net margin of 11.89% and a negative return on equity of 11.50%. The business’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.30) earnings per share. 10x Genomics has set its Q4 2025 guidance at EPS. On average, analysts forecast that 10x Genomics will post -1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On 10x Genomics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP raised its stake in 10x Genomics by 150.4% during the 2nd quarter. Allworth Financial LP now owns 2,271 shares of the company’s stock worth $26,000 after acquiring an additional 1,364 shares during the period. True Wealth Design LLC lifted its position in shares of 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 purchasing an additional 3,369 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in 10x Genomics by 153.6% in the first quarter. PNC Financial Services Group Inc. now owns 5,150 shares of the company’s stock worth $45,000 after purchasing an additional 3,119 shares in the last quarter. US Bancorp DE raised its holdings in shares of 10x Genomics by 314.5% in the 1st quarter. US Bancorp DE now owns 5,973 shares of the company’s stock valued at $52,000 after purchasing an additional 4,532 shares in the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new stake in 10x Genomics during the third quarter valued at approximately $56,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

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.