10x Genomics (NASDAQ:TXG – Get 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:TXG – Get 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
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
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.
- Get a free copy of the StockNews.com research report on 10x Genomics (TXG)
- MarketBeat: Week in Review 8/1 – 8/5
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Cronos Group Inc’s Revenues Are Up, Is It Time to Buy?
- Why Apple Could Be At All-Time Highs By Year End
- Beyond Meat Is Not Beyond Hope, And It’s Cheap
Receive News & Ratings for 10x Genomics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for 10x Genomics and related companies with MarketBeat.com's FREE daily email newsletter.