What Happened?

Shares of biotech company 10x Genomics (NASDAQ: TXG) jumped 10.5% in the morning session after the company reported better-than-expected fourth-quarter results, highlighted by a smaller loss than analysts had forecast. 

The biotechnology firm announced fourth-quarter revenue of $166 million, which was flat year on year but beat analyst expectations. Its GAAP loss of $0.13 per share was narrower than the consensus estimate of a $0.21 loss per share. This improved bottom line was aided by better cost management, as its operating margin was negative 11.8%, a significant improvement from negative 30.2% in the same quarter last year. Looking ahead, the company expects full-year revenue to be around $612.5 million, which is in line with analysts' estimates.

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What Is The Market Telling Us

10x Genomics’s shares are extremely volatile and have had 53 moves greater than 5% over the last year. But moves this big are rare even for 10x Genomics and indicate this news significantly impacted the market’s perception of the business.

The biggest move we wrote about over the last year was 10 months ago when the stock gained 20.4% as markets rallied sharply on news that President Trump announced a 90-day tariff pause. 

Reciprocal tariffs were also dropped to 10% for most countries, sparking renewed optimism amid ongoing trade talks. The major stock indices rose as investors, growing impatient of seemingly irrational tariff actions, welcomed the pause as a sign of a more measured path forward. 

However, Trump was quick to note that China was not part of the pause. Instead, he prepared to raise tariffs on Chinese goods to 125% after China announced retaliatory tariffs on US imports. This tough stance on China stood in sharp contrast to the softer tone toward others. In a week marked by growing uncertainty, this news eased some of the pressure. The questions remain whether we are out of the woods and can sustain the rally or not.

10x Genomics is up 14.4% since the beginning of the year, but at $19.02 per share, it is still trading 18% below its 52-week high of $23.19 from January 2026. Investors who bought $1,000 worth of 10x Genomics’s shares 5 years ago would now be looking at an investment worth $98.82.

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