10x Genomics (TXG)
Market Price (4/22/2026): $23.04 | Market Cap: $2.9 BilSector: Health Care | Industry: Health Care Technology
10x Genomics (TXG)
Market Price (4/22/2026): $23.04Market Cap: $2.9 BilSector: Health CareIndustry: Health Care Technology
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -15% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20% Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Advanced Diagnostics, Personalized Diagnostics, Show more. | Weak multi-year price returns2Y Excs Rtn is -65%, 3Y Excs Rtn is -128% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -111 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -17% Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 129x Stock price has recently run up significantly12M Rtn12 month market price return is 199% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 17% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 99% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.6% Key risksTXG key risks include [1] a sharp decline in instrument revenue due to tightening research budgets, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -15% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 20% |
| Megatrend and thematic driversMegatrends include Biotechnology & Genomics, and Precision Medicine. Themes include Advanced Diagnostics, Personalized Diagnostics, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -65%, 3Y Excs Rtn is -128% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 13% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -111 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -17% |
| Expensive valuation multiplesP/EBITPrice/EBIT or Price/(Operating Income) ratio is 129x |
| Stock price has recently run up significantly12M Rtn12 month market price return is 199% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 17% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 99% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.6% |
| Key risksTXG key risks include [1] a sharp decline in instrument revenue due to tightening research budgets, Show more. |
Qualitative Assessment
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10x Genomics (TXG) stock has gained about 40% since 12/31/2025 because of the following key factors:
1. Exceeding Q4 2025 Earnings Expectations and Positive 2026 Guidance.
10x Genomics reported a Q4 2025 earnings per share (EPS) of -$0.13 on February 12, 2026, surpassing the consensus estimate of -$0.19 by $0.06. Additionally, quarterly revenue reached $166.03 million, exceeding analysts' expectations of $160.35 million. The company also provided a full-year 2026 revenue guidance in the range of $600 million to $625 million, representing 0% to 4% growth over core 2025 revenue, which was viewed positively by the market. This financial performance contributed to a positive market reaction, with TXG's stock gaining 3.48% on the day of the announcement.
2. Launch of the Atera Spatial Biology Platform.
On April 18, 2026, 10x Genomics unveiled Atera, a new in situ spatial biology platform designed to provide whole-transcriptome spatial analysis with single-cell sensitivity at an unprecedented scale. This platform aims to address existing limitations in spatial biology, enhancing its appeal in research and drug discovery. The introduction of Atera is considered a significant advancement in the field and is expected to drive growth in the global spatial biology market, which is projected to expand at a Compound Annual Growth Rate (CAGR) of 19.2% from 2026 to 2035, reaching an estimated $7.24 billion by 2035.
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1. Exceeding Q4 2025 Earnings Expectations and Positive 2026 Guidance.
10x Genomics reported a Q4 2025 earnings per share (EPS) of -$0.13 on February 12, 2026, surpassing the consensus estimate of -$0.19 by $0.06. Additionally, quarterly revenue reached $166.03 million, exceeding analysts' expectations of $160.35 million. The company also provided a full-year 2026 revenue guidance in the range of $600 million to $625 million, representing 0% to 4% growth over core 2025 revenue, which was viewed positively by the market. This financial performance contributed to a positive market reaction, with TXG's stock gaining 3.48% on the day of the announcement.
2. Launch of the Atera Spatial Biology Platform.
On April 18, 2026, 10x Genomics unveiled Atera, a new in situ spatial biology platform designed to provide whole-transcriptome spatial analysis with single-cell sensitivity at an unprecedented scale. This platform aims to address existing limitations in spatial biology, enhancing its appeal in research and drug discovery. The introduction of Atera is considered a significant advancement in the field and is expected to drive growth in the global spatial biology market, which is projected to expand at a Compound Annual Growth Rate (CAGR) of 19.2% from 2026 to 2035, reaching an estimated $7.24 billion by 2035.
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Stock Movement Drivers
Fundamental Drivers
The 40.8% change in TXG stock from 12/31/2025 to 4/21/2026 was primarily driven by a 42.4% change in the company's P/S Multiple.| (LTM values as of) | 12312025 | 4212026 | Change |
|---|---|---|---|
| Stock Price ($) | 16.31 | 22.97 | 40.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 642 | 643 | 0.2% |
| P/S Multiple | 3.2 | 4.5 | 42.4% |
| Shares Outstanding (Mil) | 126 | 127 | -1.3% |
| Cumulative Contribution | 40.8% |
Market Drivers
12/31/2025 to 4/21/2026| Return | Correlation | |
|---|---|---|
| TXG | 40.8% | |
| Market (SPY) | -5.4% | 28.6% |
| Sector (XLV) | -5.7% | 41.2% |
Fundamental Drivers
The 96.5% change in TXG stock from 9/30/2025 to 4/21/2026 was primarily driven by a 102.3% change in the company's P/S Multiple.| (LTM values as of) | 9302025 | 4212026 | Change |
|---|---|---|---|
| Stock Price ($) | 11.69 | 22.97 | 96.5% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 644 | 643 | -0.3% |
| P/S Multiple | 2.2 | 4.5 | 102.3% |
| Shares Outstanding (Mil) | 124 | 127 | -2.6% |
| Cumulative Contribution | 96.5% |
Market Drivers
9/30/2025 to 4/21/2026| Return | Correlation | |
|---|---|---|
| TXG | 96.5% | |
| Market (SPY) | -2.9% | 33.6% |
| Sector (XLV) | 5.3% | 30.6% |
Fundamental Drivers
The 163.1% change in TXG stock from 3/31/2025 to 4/21/2026 was primarily driven by a 161.3% change in the company's P/S Multiple.| (LTM values as of) | 3312025 | 4212026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.73 | 22.97 | 163.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 611 | 643 | 5.2% |
| P/S Multiple | 1.7 | 4.5 | 161.3% |
| Shares Outstanding (Mil) | 122 | 127 | -4.3% |
| Cumulative Contribution | 163.1% |
Market Drivers
3/31/2025 to 4/21/2026| Return | Correlation | |
|---|---|---|
| TXG | 163.1% | |
| Market (SPY) | 16.3% | 51.4% |
| Sector (XLV) | 1.3% | 44.2% |
Fundamental Drivers
The -58.8% change in TXG stock from 3/31/2023 to 4/21/2026 was primarily driven by a -63.4% change in the company's P/S Multiple.| (LTM values as of) | 3312023 | 4212026 | Change |
|---|---|---|---|
| Stock Price ($) | 55.79 | 22.97 | -58.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 516 | 643 | 24.5% |
| P/S Multiple | 12.4 | 4.5 | -63.4% |
| Shares Outstanding (Mil) | 115 | 127 | -9.7% |
| Cumulative Contribution | -58.8% |
Market Drivers
3/31/2023 to 4/21/2026| Return | Correlation | |
|---|---|---|
| TXG | -58.8% | |
| Market (SPY) | 63.3% | 45.2% |
| Sector (XLV) | 18.0% | 37.4% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| TXG Return | 5% | -76% | 54% | -74% | 14% | 51% | -83% |
| Peers Return | -4% | -43% | 10% | -21% | -9% | -5% | -59% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 4% | 89% |
Monthly Win Rates [3] | |||||||
| TXG Win Rate | 50% | 17% | 67% | 25% | 58% | 75% | |
| Peers Win Rate | 50% | 37% | 48% | 40% | 47% | 55% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| TXG Max Drawdown | -5% | -84% | -6% | -76% | -50% | 0% | |
| Peers Max Drawdown | -16% | -55% | -25% | -36% | -41% | -18% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -7% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: ILMN, BDX, BIO, LAB, PACB.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 4/21/2026 (YTD)
How Low Can It Go
| Event | TXG | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -87.9% | -25.4% |
| % Gain to Breakeven | 729.4% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -51.6% | -33.9% |
| % Gain to Breakeven | 106.7% | 51.3% |
| Time to Breakeven | 149 days | 148 days |
Compare to ILMN, BDX, BIO, LAB, PACB
In The Past
10x Genomics's stock fell -87.9% during the 2022 Inflation Shock from a high on 4/26/2021. A -87.9% loss requires a 729.4% gain to breakeven.
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About 10x Genomics (TXG)
10x Genomics, Inc., a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in North America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium and chromium connect instruments, microfluidic chips, slides, reagents, and other consumables products. Its single cell solutions runs on its chromium instruments, which include single cell gene expression for measuring gene activity on a cell-by-cell basis; single cell immune profiling for measuring the activity of immune cells and their targets; single cell Assay for Transposase Accessible Chromati (ATAC) for measuring epigenetics comprising the physical organization of DNA; and single cell multiome ATAC + gene expression for measuring the genetic activity and epigenetic programming in the same cells across tens of thousands of cells in a single experiment. The company also provides visium spatial gene expression solution for measuring spatial gene expression patterns across a single tissue sample or gene expression and protein co-detection when combined with immunofluorescence. It serves various academic, government, biopharmaceutical, biotechnology, and other institutions. The company was formerly known as 10X Technologies, Inc. and changed its name to 10x Genomics, Inc. in November 2014. 10x Genomics, Inc. was incorporated in 2012 and is headquartered in Pleasanton, California.
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1. Illumina for single-cell and spatial genomics.
2. The Intel for advanced biological discovery.
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- Chromium Instruments & Consumables: These are the core instruments (Chromium and Chromium Connect) and associated microfluidic chips, slides, and reagents that enable their advanced biological analyses.
- Single Cell Gene Expression: A solution used to measure the activity of genes on a cell-by-cell basis.
- Single Cell Immune Profiling: A solution for quantifying the activity of individual immune cells and their specific targets.
- Single Cell Assay for Transposase Accessible Chromatin (ATAC): A solution that measures epigenetics, specifically the physical organization of DNA, at a single-cell resolution.
- Single Cell Multiome ATAC + Gene Expression: A comprehensive solution for simultaneously measuring both genetic activity and epigenetic programming within the same individual cells.
- Visium Spatial Gene Expression Solution: A solution designed to measure and map gene expression patterns across a single tissue sample, capable of combining with immunofluorescence for protein co-detection.
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10x Genomics (TXG) primarily sells its life science technology products to various institutions rather than directly to individuals. Based on the provided company description, its major customers can be broadly categorized into the following types of institutions:
- Academic Institutions: This includes universities, research hospitals, and other educational and research centers.
- Government Institutions: This encompasses national research laboratories and government-funded research organizations.
- Biopharmaceutical and Biotechnology Companies: This category includes private sector firms involved in drug discovery, development, diagnostics, and other advanced biological research.
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Serge Saxonov, Chief Executive Officer, Co-founder, and Director
- Serge Saxonov co-founded 10x Genomics in 2012 and has served as CEO since its inception, guiding the company through rapid growth and its public debut on Nasdaq (TXG).
- Before 10x Genomics, he was a founding architect and director of Research and Development at 23andMe, where he developed the company's core technology and product concepts.
- He also served as Vice President of Applications at QuantaLife, a privately-held life sciences company that was acquired by Bio-Rad Laboratories in 2011.
- He earned an A.B. in Applied Mathematics from Harvard College and a Ph.D. in Biomedical Informatics from Stanford University.
Adam Taich, Chief Financial Officer
- Adam Taich was appointed Chief Financial Officer of 10x Genomics, effective August 12, 2024.
- Prior to joining 10x Genomics, he served as Chief Strategy Officer at Standard BioTools Inc.
- He previously held the roles of interim Chief Executive Officer, Chief Business Officer, and Executive Vice President of Life Sciences at SomaLogic, Inc., a proteomics company.
- He also had a nearly 20-year career at Thermo Fisher Scientific, where he held various senior leadership positions across finance, strategy, and general management.
Ben Hindson, Co-founder, President, Chief Scientific Officer, and Director
- Ben Hindson co-founded 10x Genomics in 2012 and has served as Chief Scientific Officer and a Director since its founding.
- Before co-founding 10x Genomics, he was the Co-founder and Chief Scientific Officer of Quantalife, a privately-held life sciences company focused on a droplet digital PCR platform.
- Quantalife was sold to Bio-Rad Laboratories in 2011.
- Earlier in his career, he held various positions at Lawrence Livermore National Laboratory in the Chemical and Biological Weapons Nonproliferation Program.
- He holds a B.S. and Ph.D. in Chemistry from Deakin University, Australia.
Mennah Moustafa, Chief Commercial Officer
- Mennah Moustafa was named Chief Commercial Officer of 10x Genomics, effective August 1, 2024.
- She joined 10x Genomics in April 2022 as Senior Vice President of Commercial Operations and served as the interim Chief Commercial Officer since January 2024.
- Moustafa brings over two decades of experience in commercial and business development within the biotechnology and life sciences industries.
- Prior to 10x Genomics, she was Abcam's Head of Commercial for the Americas, and later led Business Development and the Customer Experience Journey.
- She also spent a decade at Sigma-Aldrich.
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The key risks to 10x Genomics' business include:
-
Macroeconomic Headwinds and Research Funding Uncertainty
A significant risk for 10x Genomics is the tightening of research budgets and macroeconomic uncertainty, particularly affecting academic and government funding in the United States. This environment leads to a slowdown in instrument sales and cautious customer spending, impacting a substantial portion of the company's revenue (approximately 40-50% is linked to U.S. academic and government funding). Delays, reductions, or cancellations of grants, along with potential future budget cuts, create unpredictable purchasing behavior and reduced visibility for the company. In 2025, 10x Genomics experienced a sharp 37% year-over-year decrease in instrument revenue in Q3 due to this uncertainty.
-
Intense Competition and Pricing Pressure
The life science technology sector is highly competitive, with numerous established companies and emerging firms vying for market share in single-cell and spatial biology. This competitive landscape results in pricing pressure, as 10x Genomics proactively lowers prices on some assays (e.g., a 20-30% drop for Chromium Flex) to drive volume, which can immediately pressure top-line revenue and gross margins. To maintain its competitive edge and avoid technological obsolescence, the company must continuously invest heavily in research and development.
-
Reliance on Chromium Solutions and Fluctuating Instrument Sales
10x Genomics operates on a "razor-and-blade" business model, where initial instrument sales are critical for generating a long-term stream of consumables revenue. The company's heavy reliance on its Chromium solutions makes it vulnerable if market demand shifts or if competitors introduce superior technologies. Fluctuations in instrument sales directly impact overall revenue, and a significant slowdown in these sales, as observed with a 37% year-over-year drop in Q3 2025 instrument revenue, poses a challenge to its core business model. The unpredictability in operating results, partly due to these sales fluctuations, complicates future assessments and strategic planning.
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- Emergence of alternative single-cell analysis platforms that offer significantly higher throughput, lower cost per cell, or simpler workflows, potentially challenging the market dominance of 10x Genomics' microfluidics-based Chromium instruments.
- Rapid advancements and commercialization of competing spatial genomics technologies that provide superior resolution (e.g., sub-cellular), increased multiplexing capabilities, or more comprehensive multi-omic integration in tissue, thereby threatening the market position of 10x Genomics' Visium platform.
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10x Genomics (NASDAQ: TXG) addresses significant and growing markets with its single-cell and spatial biology solutions.
- As of early 2025, 10x Genomics estimated its serviceable addressable market (SAM) for single-cell and spatial solutions combined to be approximately $13 billion globally.
- In a 2021 statement, 10x Genomics' CEO indicated that the broader life science research tools market, which the company aims to address, was about $60 billion globally and growing rapidly.
Single-Cell Analysis Market:
- The global single-cell analysis market was valued at approximately $4.29 billion in 2024 and is projected to reach $19.90 billion by 2035. North America holds the largest share of this market.
- Another estimate places the global single-cell analysis market at $4.32 billion in 2025, expected to grow to $12.58 billion by 2034. North America's share of this market was $1.90 billion in 2025.
- The single-cell analysis market was valued at $1.2 billion in 2022 and is projected to reach $1.7 billion by 2025.
Spatial Genomics and Transcriptomics Market (Spatial Biology):
- The global spatial genomics and transcriptomics market was valued at approximately $420 million in 2024 and is projected to reach $1.15 billion by 2030.
- The global spatial transcriptomics market size was estimated at $385.7 million in 2024 and is projected to reach $1,306.4 million by 2033. North America held the largest share of 58.09% of this global market in 2024.
- Another report states the global spatial transcriptomics market size at $469.36 million in 2025, predicted to increase to approximately $1,569.03 million by 2034. In 2024, North America dominated this market with a 48% share.
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10x Genomics (TXG) is expected to drive future revenue growth over the next 2-3 years through several key strategies:
- New Product Launches and Innovation: The company consistently introduces new instruments and assays, such as Chromium GEM-X, Visium HD, Xenium Prime 5K assay, and Flex APEX. These innovations aim to enhance sensitivity, throughput, and cost-effectiveness of biological analysis, while also enabling multiomic spatial insights, thereby expanding product utility and market penetration.
- Growth in Consumables Revenue: Despite facing challenges in instrument sales due to capital expenditure constraints, the utilization of 10x Genomics' installed base of instruments is expected to drive significant growth in consumables revenue for both single-cell and spatial solutions. The adoption of new assays, like Flex APEX, is specifically boosting reaction volumes and contributing to higher consumables pull-through.
- Expansion in the Spatial Biology Market: The spatial transcriptomics and genomics market is experiencing substantial growth, and 10x Genomics, with its Visium HD and Xenium platforms, is a key player in this expanding field. The company is strategically targeting applications in oncology, immunology, and neuroscience, and broadening the use of its spatial solutions from fundamental research to translational and clinical applications.
- Increased Focus on the Biopharmaceutical Sector: 10x Genomics aims to significantly increase the revenue contribution from biopharmaceutical customers, with a strategic goal to raise this segment's share from its current 15%-20% to approximately 50%. This focus on the biopharma sector is anticipated to provide a more stable and potentially higher-spending customer base.
- International Market Expansion: To counter regional market headwinds, particularly in the US, 10x Genomics is prioritizing accelerated growth in the EMEA (Europe, Middle East, and Africa) and APAC (Asia Pacific) markets. This involves strategic shipments and installations to expand the company's global installed base in these regions.
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Share Repurchases
- 10x Genomics had a 5-Year Share Buyback Ratio of -3.20% as of December 2025, indicating potential share issuance rather than buybacks.
Share Issuance
- In February 2026, 10x Genomics filed a shelf registration for US$138.83 million, covering 7,661,479 Class A shares related to an employee stock plan.
- Insider sales by executives in August and November 2025, including the CFO and President/Chief Scientific Officer, were primarily for tax withholding obligations from vested restricted stock units.
Inbound Investments
- Institutional investors held approximately 84.68% of 10x Genomics' stock as of March 7, 2026.
- Major institutional shareholders include Vanguard Group Inc, ARK Investment Management LLC, Fmr Llc, and BlackRock, Inc.
- JPMorgan Chase & Co. significantly increased its stake in 10x Genomics in Q3 (likely 2025), acquiring an additional 951,495 shares for a total of 1,073,865 shares valued at approximately $12.6 million.
Outbound Investments
- In August 2025, 10x Genomics signed a definitive agreement to acquire Scale Biosciences, Inc., a single cell genomics technology company.
- The upfront payment for the Scale Biosciences acquisition in August 2025 included $9.2 million in cash and $13.5 million (1,099,992 shares) in Class A common stock.
- An additional $20.0 million payment, in cash and Class A common stock, is expected in Q1 2026 for a technology transfer completed in Q3 2025 related to the Scale Biosciences acquisition.
Capital Expenditures
- 10x Genomics invested $1.8 million in capital expenditures during Q4 2025, representing a 158.7% increase from the previous quarter.
- The company anticipates 0%-4% revenue growth for 2026 amidst a challenging capital expenditure environment, with ongoing pressure on instrument sales due to funding constraints.
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| 03312026 | PGNY | Progyny | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 0.0% | 0.0% | 0.0% |
| 03272026 | CNC | Centene | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 2.3% | 2.3% | -0.6% |
| 03272026 | OSCR | Oscar Health | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 3.0% | 3.0% | -2.6% |
| 03202026 | WAT | Waters | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | -0.4% | -0.4% | -3.3% |
| 03202026 | GILD | Gilead Sciences | Quality | Q | Momentum | UpsideQuality Stocks with Momentum and UpsideBuying quality stocks with strong momentum but still having room to run | 1.6% | 1.6% | -2.2% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 77.47 |
| Mkt Cap | 5.6 |
| Rev LTM | 1,613 |
| Op Inc LTM | 60 |
| FCF LTM | 252 |
| FCF 3Y Avg | 153 |
| CFO LTM | 334 |
| CFO 3Y Avg | 248 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.3% |
| Rev Chg 3Y Avg | 4.2% |
| Rev Chg Q | 2.7% |
| QoQ Delta Rev Chg LTM | 0.7% |
| Op Inc Chg LTM | 5.4% |
| Op Inc Chg 3Y Avg | 1.3% |
| Op Mgn LTM | -4.4% |
| Op Mgn 3Y Avg | -9.2% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 18.0% |
| CFO/Rev 3Y Avg | 11.8% |
| FCF/Rev LTM | 13.3% |
| FCF/Rev 3Y Avg | 7.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 5.6 |
| P/S | 3.4 |
| P/Op Inc | 6.7 |
| P/EBIT | 12.4 |
| P/E | 4.9 |
| P/CFO | 14.3 |
| Total Yield | 1.4% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 2.4% |
| D/E | 0.1 |
| Net D/E | 0.0 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 10.9% |
| 3M Rtn | -6.3% |
| 6M Rtn | -0.5% |
| 12M Rtn | 40.4% |
| 3Y Rtn | -42.8% |
| 1M Excs Rtn | 2.3% |
| 3M Excs Rtn | -10.2% |
| 6M Excs Rtn | 0.1% |
| 12M Excs Rtn | 4.4% |
| 3Y Excs Rtn | -114.3% |
Price Behavior
Price Behavior
| Market Price | $22.97 | |
| Market Cap ($ Bil) | 2.9 | |
| First Trading Date | 09/12/2019 | |
| Distance from 52W High | -11.9% | |
| 50 Days | 200 Days | |
| DMA Price | $20.83 | $16.56 |
| DMA Trend | up | up |
| Distance from DMA | 10.3% | 38.7% |
| 3M | 1YR | |
| Volatility | 67.5% | 66.8% |
| Downside Capture | 0.38 | 0.69 |
| Upside Capture | 156.07 | 240.25 |
| Correlation (SPY) | 23.4% | 36.7% |
TXG Betas & Captures as of 3/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.54 | 2.00 | 1.57 | 1.96 | 1.93 | 1.92 |
| Up Beta | -7.45 | -1.04 | 0.98 | 2.69 | 2.09 | 1.96 |
| Down Beta | 3.07 | 4.13 | 1.60 | 1.00 | 1.61 | 1.62 |
| Up Capture | 119% | 227% | 302% | 482% | 485% | 558% |
| Bmk +ve Days | 7 | 16 | 27 | 65 | 139 | 424 |
| Stock +ve Days | 10 | 20 | 34 | 63 | 125 | 350 |
| Down Capture | 158% | 132% | 82% | 131% | 136% | 113% |
| Bmk -ve Days | 12 | 23 | 33 | 58 | 110 | 323 |
| Stock -ve Days | 11 | 20 | 27 | 61 | 123 | 391 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TXG | |
|---|---|---|---|---|
| TXG | 235.4% | 66.2% | 2.10 | - |
| Sector ETF (XLV) | 9.2% | 16.0% | 0.37 | 35.6% |
| Equity (SPY) | 23.7% | 12.7% | 1.52 | 36.9% |
| Gold (GLD) | 41.4% | 27.5% | 1.25 | 16.1% |
| Commodities (DBC) | 22.4% | 16.2% | 1.25 | 6.6% |
| Real Estate (VNQ) | 14.2% | 13.8% | 0.72 | 31.1% |
| Bitcoin (BTCUSD) | -10.4% | 42.7% | -0.14 | 25.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TXG | |
|---|---|---|---|---|
| TXG | -33.5% | 68.3% | -0.31 | - |
| Sector ETF (XLV) | 5.9% | 14.6% | 0.22 | 38.7% |
| Equity (SPY) | 10.8% | 17.1% | 0.49 | 49.9% |
| Gold (GLD) | 21.6% | 17.8% | 0.99 | 13.0% |
| Commodities (DBC) | 10.9% | 18.8% | 0.47 | 7.1% |
| Real Estate (VNQ) | 4.1% | 18.8% | 0.12 | 44.0% |
| Bitcoin (BTCUSD) | 3.8% | 56.4% | 0.29 | 25.1% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with TXG | |
|---|---|---|---|---|
| TXG | -7.2% | 66.7% | 0.12 | - |
| Sector ETF (XLV) | 9.5% | 16.5% | 0.47 | 35.2% |
| Equity (SPY) | 13.9% | 17.9% | 0.67 | 42.9% |
| Gold (GLD) | 13.7% | 15.9% | 0.71 | 12.2% |
| Commodities (DBC) | 8.2% | 17.6% | 0.39 | 8.4% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.23 | 35.3% |
| Bitcoin (BTCUSD) | 68.0% | 66.9% | 1.07 | 21.3% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 2/12/2026 | 3.5% | 7.8% | -4.7% |
| 11/6/2025 | 17.3% | 25.8% | 37.2% |
| 8/7/2025 | -4.0% | 3.4% | 8.8% |
| 5/8/2025 | 1.6% | 6.6% | 16.9% |
| 1/13/2025 | 0.8% | -3.2% | -24.1% |
| 10/29/2024 | 4.4% | 9.8% | -2.0% |
| 8/8/2024 | 4.5% | 15.8% | 11.6% |
| 4/30/2024 | -8.1% | -10.7% | -23.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 12 | 12 |
| # Negative | 9 | 12 | 12 |
| Median Positive | 4.4% | 7.2% | 13.7% |
| Median Negative | -5.2% | -11.0% | -12.0% |
| Max Positive | 18.5% | 25.8% | 44.8% |
| Max Negative | -21.0% | -26.6% | -26.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12/31/2025 | 02/13/2026 | 10-K |
| 09/30/2025 | 11/07/2025 | 10-Q |
| 06/30/2025 | 08/08/2025 | 10-Q |
| 03/31/2025 | 05/09/2025 | 10-Q |
| 12/31/2024 | 02/13/2025 | 10-K |
| 09/30/2024 | 10/29/2024 | 10-Q |
| 06/30/2024 | 08/08/2024 | 10-Q |
| 03/31/2024 | 04/30/2024 | 10-Q |
| 12/31/2023 | 02/15/2024 | 10-K |
| 09/30/2023 | 11/03/2023 | 10-Q |
| 06/30/2023 | 08/04/2023 | 10-Q |
| 03/31/2023 | 05/04/2023 | 10-Q |
| 12/31/2022 | 02/16/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/09/2022 | 10-Q |
| 03/31/2022 | 05/05/2022 | 10-Q |
Recent Forward Guidance [BETA]
Latest: Q4 2025 Earnings Reported 2/12/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 600.00 Mil | 612.50 Mil | 625.00 Mil | Higher New | |||
| 2026 Revenue Growth | 0.0% | 2.0% | 4.0% | 2.0% | Higher New | ||
Prior: Q3 2025 Earnings Reported 11/6/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2025 Revenue | 154.00 Mil | 156.00 Mil | 158.00 Mil | 9.9% | Higher New | Guidance: 142.00 Mil for Q3 2025 | |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Taich, Adam | Chief Financial Officer | Direct | Sell | 11252025 | 19.00 | 11,888 | 225,852 | 5,649,809 | Form |
| 2 | Hindson, Benjamin J | See Remarks | Direct | Sell | 11252025 | 19.00 | 8,283 | 157,363 | 8,218,760 | Form |
| 3 | Saxonov, Serge | Chief Executive Officer | Direct | Sell | 11252025 | 19.00 | 13,261 | 251,936 | 19,407,827 | Form |
| 4 | Saxonov, Serge | Chief Executive Officer | Direct | Sell | 8262025 | 13.79 | 9,348 | 128,881 | 13,041,013 | Form |
| 5 | Taich, Adam | Chief Financial Officer | Direct | Sell | 8262025 | 13.79 | 22,315 | 307,657 | 4,263,947 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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