10x Genomics, Inc. (TXG) Down 13.6% — Should I Get Off This Ride?
10x Genomics, Inc. (TXG) is under heavy selling pressure this Tuesday. The stock was last changing hands at $84.50 on the NASDAQ, a $13.24 decline from the prior close of $97.74. The pullback leaves TXG about 11.2% below its 52-week high of $95.16, set on September 30, 2026. That sell-off comes after an extraordinary run. Even after today's slide, the stock trades roughly 657% above its 52-week low of $11.16, and that gain is what makes a reversal of this size possible.
Volume is running well above normal, with roughly 5.10 million shares traded against a 90-day average of about 3.18 million. That is about 1.6 times typical turnover with the session still open.
Why 10x Genomics, Inc. Price is Moving Lower
The most plausible driver of today's drop is profit-taking after a steep rally. Same-day analysis from Quiver described the decline as a pullback after enthusiasm for recent product launches. The shares had pushed to fresh highs in the sessions just before today's reversal. Much of that enthusiasm traces back to September 29, when 10x began shipping its Atera spatial-biology platform. Booked orders already exceed the 40 systems the company expected to ship in 2026. 10x also introduced Sentira, a cloud analysis platform expected to become a paid product in early 2027. Both announcements are constructive, but they fed expectations that the stock's climb may have outrun, and today's trading looks like investors locking in gains on that optimism.
Weakness across the group added to the pressure. Moderna, Inc. (MRNA) fell 6.46% and Natera, Inc. (NTRA) dropped 5.54% in the same session. That gave traders little sector support to lean on while they took money off the table in one of the space's biggest recent winners.
The fundamental backdrop is mixed rather than deteriorating. On August 6, 10x reported Q2 revenue of $151.04 million, ahead of the $146.67 million consensus. EPS of -$0.14 came in better than the expected -$0.24. Underneath those beats, revenue fell 12.7% year over year from $172.91 million, though excluding patent-settlement revenue it rose 3%. Net income swung to a $17.9 million loss from a $34.5 million profit a year earlier, a reminder that last year's comparison was flattered by one-time settlement income. Management raised its 2026 revenue guidance to $610 million–$630 million from $600 million–$625 million. That is a modest lift, but it does not obviously justify a stock that had multiplied several times over in under a year.
What is the 10x Genomics, Inc. Rating - Should I Sell?
Weiss Ratings assigns TXG a D- rating. The rating was upgraded on 12/29/2025. Current recommendation is Sell. A D- rating reflects a business whose operating results have not caught up with its share price, and the Sell recommendation signals that the risks outweigh the potential rewards.
There are genuine strengths here. The Excellent rating on the Solvency Index means 10x has the balance-sheet capacity to fund the Atera rollout and the Sentira build-out without leaning on outside capital. That matters for a tools company that is still losing money. The Good rating on the Total Return Index reflects the stock's remarkable climb from an $11.16 low. Holders who bought in during the past year have been well rewarded, even after today's pullback.
The rest of the profile looks weaker. The Fair rating on the Growth Index reflects a top line that is stable but not expanding. Reported revenue growth sits at -12.65%, and sequential revenue was essentially flat, moving from $150.84 million in the first quarter of 2026 to $151.04 million in the second. The 3% growth excluding patent-settlement revenue keeps the Growth Index from rating lower. It is still thin support for a $12.18 billion valuation. The Very Weak rating on the Efficiency Index carries the most weight in the overall rating. A -12.17% profit margin, trailing EPS of -$0.59, and a forward P/E of -157.99 show that 10x is still a long way from turning its installed base and consumables into consistent earnings. The Weak rating on the Volatility Index follows naturally from a 52-week range spanning $11.16 to $95.16. Today's 13.55% profit-taking slide, after a launch-driven run, shows how quickly sentiment in this name can swing in either direction.
Within the Health Care sector, 10x sits alongside Moderna, Inc. (MRNA, D-) and Natera, Inc. (NTRA, D-), both of which also fell sharply today. It trails Zoetis Inc. (ZTS, D), whose slightly better rating reflects a more established earnings profile, though that rating still carries a Sell recommendation.
About 10x Genomics, Inc.
10x Genomics, Inc. (TXG) is a Health Care company that develops and sells instruments, consumables, and software that let researchers analyze biological systems at the level of individual cells and tissue structures. Founded in 2012 and headquartered in Pleasanton, California, the company sells across the United States, the rest of the Americas, Europe, the Middle East, Africa, China, and the broader Asia Pacific region. Its customers include academic, government, biopharmaceutical, and biotechnology institutions.
The company's portfolio spans two main fronts. On the single-cell side, the Chromium platform pairs Chromium X Series instruments with microfluidic chips and consumables. It is supplemented by QuantumScale single cell RNA and single cell methylation kits. On the spatial side, the Visium platform uses high-density DNA arrays to map where biological analytes sit within a tissue sample. It offers HD WT panel and HD 3' gene expression assays, and the Visium CytAssist instrument simplifies the transfer of samples from standard glass slides. The Xenium Analyzer detects and preserves the cellular location of hundreds of RNA targets directly in fresh frozen or FFPE tissue without conventional sequencing. The newly shipping Atera platform extends that spatial-biology franchise further.
Software ties the ecosystem together. Cell Ranger serves as a widely cited scRNA-seq processing pipeline. Loupe Browser handles single-cell, spatial, and multiomic visualization, and Xenium Explorer supports subcellular in situ data exploration. The planned paid launch of Sentira points to a growing recurring software layer. 10x's competitive advantage rests on the breadth of its installed base, a deep library of published research built on its platforms, and the recurring consumables revenue that follows each instrument placement. That model rewards scale but depends heavily on research and biopharma budgets.
Investor Outlook
10x Genomics, Inc. (TXG) carries a Weiss Rating of D- (Sell), and today's sharp reversal shows how much optimism had been priced in after the Atera and Sentira announcements. Investors should watch whether Atera shipments convert booked orders into revenue in the coming quarters, whether the company delivers on its raised $610 million–$630 million 2026 guidance, and whether losses narrow enough to support the current valuation. See full rankings of all D- rated Health Care stocks inside the Weiss Stock Screener.
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