10x Genomics (TXG) falls as revenue decline offsets first-quarter earnings beat

10x Genomics (NASDAQ: TXG) shares fell after its first-quarter results showed weaker sales, outweighing better-than-expected earnings metrics and unchanged full-year guidance. The stock closed at $21.61, down 3.6% from the previous close, after falling as much as 5.3% during the May 12, 2026, session. The biotechnology tools company reported revenue of $150.8 million, down 2.6% from a year earlier. Its loss per share narrowed and both revenue and earnings topped Wall Street estimates, but investors focused on the sales contraction and expectations for another revenue decline over the next year. The move follows broader pressure on life sciences tools stocks. Thermo Fisher Scientific (NYSE: TMO) recently reported first-quarter revenue of $11.01 billion, above estimates, but organic revenue growth of 1%, below the 1.4% expected by analysts. 10x Genomics remains up 29.9% in 2026 but trades 17.2% below its 52-week high of $26.08 reached in April 2026.