10x Genomics(TXG) Soars 7.88% on Strong Q1 Earnings

10x Genomics(TXG) shares surged 7.88% today, marking the second consecutive day of gains, with a total increase of 12.35% over the past two days. The stock price reached its highest level since February 2025, with an intraday gain of 8.29%.

The strategy of buying TXG shares after they reached a recent high and holding for 1 week showed poor performance over the past 5 years. The cumulative return was -46.5%, significantly underperforming the market. This indicates that relying on recent highs as a buying trigger and holding for a short duration is not a reliable strategy for TXG or similar stocks.

10x Genomics Inc. has been in the spotlight due to its recent financial performance. The company's first-quarter 2025 financial results exceeded expectations from both Canaccord and the FactSet consensus. This positive financial performance has contributed to the recent surge in the company's stock price. The company's strong financial results have been a key driver of investor confidence, leading to a positive market sentiment towards the stock.

Analyst Kyle Mikson from Canaccord Genuity maintained a Buy rating on the stock with a price target of $15.00. This rating reflects the analyst's confidence in the company's future prospects and its ability to continue delivering strong financial results. The Buy rating and price target have further bolstered investor confidence in the stock, contributing to its recent gains.