10x Genomics (TXG) Scheduled to Post Quarterly Earnings on Monday

10x Genomics (NASDAQ:TXGGet Rating) will be announcing its earnings results after the market closes on Monday, August 8th. Analysts expect the company to announce earnings of ($0.33) per share for the quarter. Investors that wish to listen to the company’s earnings conference call can do so using this link.

10x Genomics (NASDAQ:TXGGet Rating) last posted its earnings results on Wednesday, May 4th. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.01). 10x Genomics had a negative return on equity of 11.10% and a negative net margin of 17.85%. The firm had revenue of $114.50 million for the quarter, compared to analyst estimates of $113.33 million. During the same period in the prior year, the business posted ($0.11) EPS. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts expect 10x Genomics to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

10x Genomics Stock Performance

TXG opened at $42.62 on Friday. 10x Genomics has a fifty-two week low of $33.30 and a fifty-two week high of $191.15. The company has a market capitalization of $4.81 billion, a P/E ratio of -53.95 and a beta of 1.66. The stock has a fifty day moving average of $43.27 and a 200-day moving average of $60.74.

Insider Activity at 10x Genomics

In related news, CEO Serge Saxonov sold 2,656 shares of the company’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $48.76, for a total value of $129,506.56. Following the sale, the chief executive officer now directly owns 968,817 shares in the company, valued at $47,239,516.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other 10x Genomics news, insider Benjamin J. Hindson sold 1,264 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $48.76, for a total value of $61,632.64. Following the transaction, the insider now directly owns 187,538 shares of the company’s stock, valued at $9,144,352.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Serge Saxonov sold 2,656 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $48.76, for a total value of $129,506.56. Following the completion of the transaction, the chief executive officer now directly owns 968,817 shares in the company, valued at $47,239,516.92. The disclosure for this sale can be found here. Insiders have sold 4,887 shares of company stock worth $238,290 over the last ninety days. Insiders own 11.57% of the company’s stock.

Hedge Funds Weigh In On 10x Genomics

Several institutional investors have recently added to or reduced their stakes in TXG. BlackRock Inc. raised its position in shares of 10x Genomics by 14.2% during the first quarter. BlackRock Inc. now owns 9,156,992 shares of the company’s stock worth $696,572,000 after purchasing an additional 1,138,358 shares during the period. Goldman Sachs Group Inc. raised its position in shares of 10x Genomics by 242.7% during the first quarter. Goldman Sachs Group Inc. now owns 686,270 shares of the company’s stock worth $52,204,000 after purchasing an additional 485,997 shares during the period. Clearbridge Investments LLC raised its position in shares of 10x Genomics by 28.8% during the first quarter. Clearbridge Investments LLC now owns 1,440,875 shares of the company’s stock worth $109,607,000 after purchasing an additional 322,493 shares during the period. Vanguard Group Inc. raised its position in shares of 10x Genomics by 2.4% during the first quarter. Vanguard Group Inc. now owns 7,732,523 shares of the company’s stock worth $588,213,000 after purchasing an additional 178,481 shares during the period. Finally, Select Equity Group L.P. acquired a new position in shares of 10x Genomics during the first quarter worth approximately $10,411,000. 76.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Citigroup dropped their price target on 10x Genomics from $150.00 to $100.00 in a research note on Thursday, May 5th. Canaccord Genuity Group assumed coverage on 10x Genomics in a research note on Monday, July 25th. They issued a “buy” rating for the company. Cowen dropped their price target on 10x Genomics from $90.00 to $50.00 in a research note on Friday, July 15th. Canaccord Genuity Group initiated coverage on 10x Genomics in a research note on Monday, July 25th. They issued a “buy” rating and a $55.00 price target for the company. Finally, The Goldman Sachs Group decreased their target price on 10x Genomics from $80.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, July 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, 10x Genomics presently has an average rating of “Hold” and an average price target of $72.38.

About 10x Genomics

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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.

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Earnings History for 10x Genomics (NASDAQ:TXG)

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