10x Genomics (NASDAQ:TXG) Announces Earnings Results, Misses Expectations By $0.07 EPS

10x Genomics (NASDAQ:TXGGet Rating) posted its quarterly earnings data on Wednesday. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.07), MarketWatch Earnings reports. The firm had revenue of $114.50 million for the quarter, compared to analysts’ expectations of $113.33 million. 10x Genomics had a negative net margin of 11.87% and a negative return on equity of 7.38%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.11) EPS.

Shares of NASDAQ:TXG opened at $50.41 on Friday. 10x Genomics has a 12-month low of $46.05 and a 12-month high of $208.99. The business’s fifty day simple moving average is $66.58 and its 200-day simple moving average is $108.52. The company has a market capitalization of $5.69 billion, a PE ratio of -96.94 and a beta of 1.92.

In other news, insider Bradford Crutchfield sold 17,000 shares of the firm’s stock in a transaction on Tuesday, February 15th. The stock was sold at an average price of $95.13, for a total value of $1,617,210.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Serge Saxonov sold 12,000 shares of the firm’s stock in a transaction on Tuesday, February 8th. The stock was sold at an average price of $89.90, for a total value of $1,078,800.00. The disclosure for this sale can be found here. Insiders sold a total of 30,199 shares of company stock worth $2,790,248 over the last quarter. Company insiders own 11.57% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. NEXT Financial Group Inc lifted its holdings in shares of 10x Genomics by 225.6% in the 4th quarter. NEXT Financial Group Inc now owns 394 shares of the company’s stock valued at $59,000 after buying an additional 273 shares during the period. Cetera Investment Advisers purchased a new position in shares of 10x Genomics in the 4th quarter valued at about $214,000. Squarepoint Ops LLC purchased a new position in shares of 10x Genomics in the 4th quarter valued at about $622,000. LPL Financial LLC increased its stake in shares of 10x Genomics by 83.6% in the 4th quarter. LPL Financial LLC now owns 16,302 shares of the company’s stock valued at $2,428,000 after purchasing an additional 7,425 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of 10x Genomics by 14.3% in the 4th quarter. Amalgamated Bank now owns 17,949 shares of the company’s stock valued at $2,674,000 after purchasing an additional 2,244 shares in the last quarter. 76.25% of the stock is owned by institutional investors.

A number of analysts have commented on TXG shares. Citigroup reduced their price target on 10x Genomics from $150.00 to $100.00 in a research report on Thursday. The Goldman Sachs Group dropped their price objective on 10x Genomics from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, April 13th. Zacks Investment Research raised 10x Genomics from a “sell” rating to a “hold” rating in a research note on Thursday, February 17th. Finally, Cowen dropped their price objective on 10x Genomics from $205.00 to $145.00 in a research note on Thursday, February 17th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $128.57.

10x Genomics Company Profile (Get Rating)

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.

Further Reading

Earnings History for 10x Genomics (NASDAQ:TXG)

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