10x Genomics, Inc. (NASDAQ:TXG) Forecasted to Post Q2 2024 Earnings of ($0.53) Per Share

10x Genomics, Inc. (NASDAQ:TXG) – Investment analysts at William Blair increased their Q2 2024 earnings per share (EPS) estimates for 10x Genomics in a research note issued on Wednesday, May 1st. William Blair analyst M. Larew now anticipates that the company will post earnings of ($0.53) per share for the quarter, up from their prior forecast of ($0.55). The consensus estimate for 10x Genomics’ current full-year earnings is ($1.56) per share. William Blair also issued estimates for 10x Genomics’ Q3 2024 earnings at ($0.41) EPS, Q4 2024 earnings at ($0.30) EPS, FY2024 earnings at ($1.71) EPS and FY2025 earnings at ($1.30) EPS.

A number of other research analysts have also recently issued reports on TXG. Barclays decreased their price objective on shares of 10x Genomics from $55.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, April 10th. Bank of America decreased their price target on shares of 10x Genomics from $45.00 to $36.00 and set a “neutral” rating for the company in a report on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price target on 10x Genomics from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. UBS Group cut their price target on shares of 10x Genomics from $52.00 to $30.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, TD Cowen downgraded shares of 10x Genomics from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $57.00 to $32.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.50.

10x Genomics Trading Up 4.5 %

NASDAQ TXG opened at $27.48 on Friday. The company has a market capitalization of $3.27 billion, a PE ratio of -12.32 and a beta of 1.94. The stock has a 50-day simple moving average of $35.81 and a 200 day simple moving average of $42.10. 10x Genomics has a 12 month low of $24.60 and a 12 month high of $63.57.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings data on Tuesday, April 30th. The company reported ($0.50) earnings per share for the quarter, meeting the consensus estimate of ($0.50). 10x Genomics had a negative net margin of 42.20% and a negative return on equity of 30.85%. The business had revenue of $141.01 million for the quarter, compared to analyst estimates of $142.24 million. During the same period in the prior year, the business posted ($0.44) earnings per share. 10x Genomics’s revenue was up 5.0% compared to the same quarter last year.

Insider Transactions at 10x Genomics

In related news, CEO Serge Saxonov sold 1,000 shares of the firm’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $49.53, for a total value of $49,530.00. Following the completion of the transaction, the chief executive officer now directly owns 855,381 shares of the company’s stock, valued at $42,367,020.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Serge Saxonov sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $49.53, for a total value of $49,530.00. Following the completion of the sale, the chief executive officer now directly owns 855,381 shares in the company, valued at approximately $42,367,020.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Justin J. Mcanear sold 1,865 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total value of $86,424.10. Following the transaction, the chief financial officer now directly owns 95,240 shares in the company, valued at approximately $4,413,421.60. The disclosure for this sale can be found here. Insiders have sold a total of 12,959 shares of company stock worth $592,806 in the last 90 days. Corporate insiders own 10.65% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

A number of large investors have recently added to or reduced their stakes in TXG. Nikko Asset Management Americas Inc. increased its holdings in shares of 10x Genomics by 58.6% in the first quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock valued at $135,780,000 after purchasing an additional 1,338,248 shares during the last quarter. Capstone Investment Advisors LLC grew its stake in 10x Genomics by 191.6% in the 1st quarter. Capstone Investment Advisors LLC now owns 16,115 shares of the company’s stock valued at $605,000 after buying an additional 10,589 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in 10x Genomics by 264.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 319,287 shares of the company’s stock valued at $11,983,000 after acquiring an additional 231,697 shares during the period. Perigon Wealth Management LLC lifted its position in 10x Genomics by 46.7% during the first quarter. Perigon Wealth Management LLC now owns 14,168 shares of the company’s stock worth $532,000 after acquiring an additional 4,512 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of 10x Genomics by 113.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after acquiring an additional 371 shares during the period. Institutional investors own 84.68% of the company’s stock.

About 10x Genomics

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.