10x Genomics (NASDAQ:TXG) Shares Gap Up Following Earnings Beat

10x Genomics (NASDAQ:TXG) shares gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $13.00, but opened at $14.31. 10x Genomics shares last traded at $14.3770, with a volume of 1,116,224 shares.

The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.05. The business 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 11.71% and a negative net margin of 11.89%.10x Genomics’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.30) earnings per share. 10x Genomics has set its Q4 2025 guidance at EPS.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TXG. Wall Street Zen raised shares of 10x Genomics from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Canaccord Genuity Group upped their price target on shares of 10x Genomics from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of 10x Genomics in a research report on Tuesday, October 14th. Morgan Stanley cut their price target on 10x Genomics from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Tuesday, August 12th. Finally, UBS Group boosted their price objective on 10x Genomics from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $14.58.

Insiders Place Their Bets

In other 10x Genomics news, CFO Adam Taich sold 22,315 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 $307,723.85. Following the completion of the transaction, the chief financial officer directly owned 309,273 shares of the company’s stock, valued at $4,264,874.67. This trade represents a 6.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 owned 440,888 shares in the company, valued at $6,079,845.52. This represents a 1.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 39,149 shares of company stock valued at $539,865 in the last three months. Corporate insiders own 9.39% of the company’s stock.

Institutional Trading of 10x Genomics

A number of hedge funds and other institutional investors have recently bought and sold shares of TXG. GAMMA Investing LLC boosted its stake in shares of 10x Genomics by 81.8% during the first quarter. GAMMA Investing LLC now owns 3,586 shares of the company’s stock valued at $31,000 after purchasing an additional 1,614 shares in the last quarter. Amundi raised its stake in 10x Genomics by 16,013.7% in the first quarter. Amundi now owns 320,340 shares of the company’s stock worth $2,553,000 after buying an additional 318,352 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in 10x Genomics by 163.5% during the first quarter. Goldman Sachs Group Inc. now owns 645,366 shares of the company’s stock worth $5,634,000 after buying an additional 400,430 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in 10x Genomics by 235.6% during the 1st 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 acquiring an additional 4,987,195 shares in the last quarter. Finally, Pallas Capital Advisors LLC increased its holdings in shares of 10x Genomics by 138.8% in the 2nd quarter. Pallas Capital Advisors LLC now owns 56,776 shares of the company’s stock valued at $657,000 after acquiring an additional 32,996 shares during the period. Hedge funds and other institutional investors own 84.68% of the company’s stock.

10x Genomics Trading Up 17.3%

The company has a 50-day moving average price of $12.81 and a 200 day moving average price of $11.77. The stock has a market capitalization of $1.90 billion, a P/E ratio of -24.60 and a beta of 2.13.

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.