10x Genomics (NASDAQ:TXG) Reaches New 1-Year High – Here’s Why

10x Genomics (NASDAQ:TXG)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $17.28 and last traded at $17.08, with a volume of 5042775 shares changing hands. The stock had previously closed at $15.25.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TXG. UBS Group raised their target price on 10x Genomics from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Friday. Zacks Research upgraded 10x Genomics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 9th. Canaccord Genuity Group lifted their price objective on 10x Genomics from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler assumed coverage on 10x Genomics in a research note on Thursday, September 11th. They issued a “neutral” rating and a $15.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft set a $14.00 price objective on shares of 10x Genomics and gave the company a “hold” rating in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $14.58.

10x Genomics Stock Performance

The firm has a 50 day simple moving average of $12.87 and a 200 day simple moving average of $11.85. The firm has a market cap of $2.13 billion, a P/E ratio of -27.55 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. 10x Genomics had a negative return on equity of 11.71% and a negative net margin of 11.89%.The firm had revenue of $149.00 million for the quarter, compared to analysts’ expectations of $142.50 million. During the same period in the prior year, the business posted ($0.30) earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. 10x Genomics has set its Q4 2025 guidance at EPS. Sell-side analysts predict that 10x Genomics will post -1.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related 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 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 filing with the SEC, 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 sale, the insider directly owned 440,888 shares of the company’s stock, valued at $6,079,845.52. This represents a 1.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 39,149 shares of company stock worth $539,865 in the last three months. 9.39% of the stock is currently owned by corporate insiders.

Institutional Trading of 10x Genomics

Several institutional investors and hedge funds have recently modified their holdings of the business. AXQ Capital LP boosted its position in shares of 10x Genomics by 27.4% during the 3rd quarter. AXQ Capital LP now owns 39,334 shares of the company’s stock valued at $460,000 after acquiring an additional 8,463 shares during the last quarter. Citigroup Inc. raised its stake in 10x Genomics by 55.3% in the third quarter. Citigroup Inc. now owns 261,323 shares of the company’s stock valued at $3,055,000 after purchasing an additional 93,104 shares in the last quarter. Syon Capital LLC lifted its position in 10x Genomics by 183.4% during the third quarter. Syon Capital LLC now owns 41,772 shares of the company’s stock valued at $488,000 after purchasing an additional 27,035 shares during the last quarter. Axxcess Wealth Management LLC lifted its position in 10x Genomics by 10.1% during the third quarter. Axxcess Wealth Management LLC now owns 15,045 shares of the company’s stock valued at $176,000 after purchasing an additional 1,376 shares during the last quarter. Finally, Fortis Group Advisors LLC purchased a new position in 10x Genomics in the 3rd quarter worth approximately $236,000. 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.