10x Genomics (NASDAQ:TXG) Reaches New 52-Week High – Time to Buy?

10x Genomics (NASDAQ:TXG)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $18.43 and last traded at $18.45, with a volume of 2276824 shares traded. The stock had previously closed at $16.46.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of 10x Genomics in a research note on Monday. JPMorgan Chase & Co. raised their price target on shares of 10x Genomics from $13.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Deutsche Bank Aktiengesellschaft set a $14.00 target price on shares of 10x Genomics and gave the company a “hold” rating in a research note on Friday, August 8th. Canaccord Genuity Group increased their price objective on 10x Genomics from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Zacks Research lowered shares of 10x Genomics from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Six 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. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $14.88.

10x Genomics Stock Performance

The business’s 50-day moving average is $13.30 and its 200-day moving average is $12.24. The company has a market capitalization of $2.34 billion, a PE ratio of -29.83 and a beta of 2.13.

10x Genomics (NASDAQ:TXG) last issued 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 return on equity of 11.50% and a negative net margin of 11.89%.The company’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the company earned ($0.30) earnings per share. 10x Genomics has set its Q4 2025 guidance at EPS. Analysts expect that 10x Genomics will post -1.43 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in 10x Genomics by 235.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,103,768 shares of the company’s stock valued at $62,016,000 after purchasing an additional 4,987,195 shares in the last quarter. Millennium Management LLC increased its stake in shares of 10x Genomics by 434.5% in the first quarter. Millennium Management LLC now owns 5,377,492 shares of the company’s stock worth $46,946,000 after purchasing an additional 4,371,327 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of 10x Genomics by 241.3% in the second quarter. AQR Capital Management LLC now owns 4,137,801 shares of the company’s stock valued at $47,916,000 after acquiring an additional 2,925,372 shares in the last quarter. Wellington Management Group LLP boosted its stake in 10x Genomics by 126.6% in the 3rd quarter. Wellington Management Group LLP now owns 4,285,628 shares of the company’s stock worth $50,099,000 after purchasing an additional 2,394,355 shares during the period. Finally, Quantinno Capital Management LP lifted its stake in 10x Genomics by 207.2% in the 2nd quarter. Quantinno Capital Management LP now owns 2,233,526 shares of the company’s stock worth $25,864,000 after purchasing an additional 1,506,530 shares in the last quarter. 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.