William Blair analyst Matt Larew has maintained their neutral stance on TXG stock, giving a Hold rating yesterday.
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Matt Larew has given his Hold rating due to a combination of factors that reflect both the positive developments and the ongoing uncertainties surrounding 10x Genomics. The company reported a strong second-quarter performance with significant growth in its Chromium reaction segment and progress towards profitability, even after adjusting for one-time licensing and royalty fees. Additionally, the acquisition of Scale Biosciences is seen as a strategic move that strengthens 10x’s leadership in the single-cell market.
However, despite these positive aspects, the macroeconomic environment remains uncertain, and 10x has previously withdrawn its full-year guidance due to its exposure to pressured end-markets. The company’s third-quarter guidance aligns with consensus expectations but still reflects the current challenging conditions. The valuation, at 1.9 times 2026 sales, is considered balanced when compared to its peers, taking into account both the near-term uncertainties and the long-term potential. Therefore, a Hold rating is deemed appropriate given these mixed factors.
In another report released yesterday, TD Cowen also maintained a Hold rating on the stock with a $14.00 price target.
Based on the recent corporate insider activity of 28 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TXG in relation to earlier this year.