10x Genomics, Inc. (NASDAQ:TXG) to Post Q2 2023 Earnings of ($0.45) Per Share, William Blair Forecasts

10x Genomics, Inc. (NASDAQ:TXG – Get Rating) – Equities researchers at William Blair lowered their Q2 2023 EPS estimates for 10x Genomics in a report issued on Monday, May 8th. William Blair analyst M. Larew now anticipates that the company will post earnings per share of ($0.45) for the quarter, down from their prior estimate of ($0.40). The consensus estimate for 10x Genomics’ current full-year earnings is ($1.33) per share. William Blair also issued estimates for 10x Genomics’ Q3 2023 earnings at ($0.29) EPS, Q4 2023 earnings at ($0.23) EPS, FY2023 earnings at ($1.42) EPS and FY2024 earnings at ($1.12) EPS.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley raised their target price on shares of 10x Genomics from $64.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, February 16th. Canaccord Genuity Group increased their target price on 10x Genomics from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Cowen raised their price objective on 10x Genomics from $52.00 to $57.00 and gave the stock an “outperform” rating in a research note on Thursday, February 16th. Barclays initiated coverage on 10x Genomics in a research report on Wednesday. They issued an “overweight” rating and a $65.00 target price on the stock. Finally, Stephens initiated coverage on 10x Genomics in a research report on Thursday, March 30th. They issued an “overweight” rating and a $65.00 target price on the stock. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, 10x Genomics presently has an average rating of “Moderate Buy” and an average price target of $54.85.

10x Genomics Stock Up 2.2 %

Shares of TXG opened at $54.38 on Wednesday. The firm has a market cap of $6.27 billion, a PE ratio of -35.54 and a beta of 1.75. The company’s fifty day moving average is $51.45 and its two-hundred day moving average is $43.56. 10x Genomics has a fifty-two week low of $23.81 and a fifty-two week high of $56.22.

10x Genomics (NASDAQ:TXG – Get Rating) last announced its earnings results on Wednesday, May 3rd. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.06). The firm had revenue of $134.29 million for the quarter, compared to analyst estimates of $128.87 million. 10x Genomics had a negative return on equity of 22.02% and a negative net margin of 32.51%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.38) EPS.

Institutional Investors Weigh In On 10x Genomics

A number of large investors have recently added to or reduced their stakes in TXG. Wipfli Financial Advisors LLC bought a new stake in shares of 10x Genomics in the third quarter valued at approximately $26,000. First Horizon Advisors Inc. boosted its position in shares of 10x Genomics by 64.0% in the third quarter. First Horizon Advisors Inc. now owns 1,220 shares of the company’s stock valued at $34,000 after acquiring an additional 476 shares during the period. National Bank of Canada FI boosted its position in shares of 10x Genomics by 476.4% in the first quarter. National Bank of Canada FI now owns 611 shares of the company’s stock valued at $34,000 after acquiring an additional 505 shares during the period. OLD Mission Capital LLC bought a new stake in shares of 10x Genomics in the fourth quarter valued at approximately $37,000. Finally, Atlas Capital Advisors LLC boosted its position in shares of 10x Genomics by 45.5% in the third quarter. Atlas Capital Advisors LLC now owns 1,360 shares of the company’s stock valued at $39,000 after acquiring an additional 425 shares during the period. Institutional investors own 74.34% of the company’s stock.

Insider Buying and Selling

In other news, insider Benjamin J. Hindson sold 1,742 shares of the business’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $47.75, for a total transaction of $83,180.50. Following the sale, the insider now owns 250,237 shares in the company, valued at $11,948,816.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Benjamin J. Hindson sold 1,742 shares of 10x Genomics stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $47.75, for a total transaction of $83,180.50. Following the completion of the sale, the insider now directly owns 250,237 shares in the company, valued at approximately $11,948,816.75. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Justin J. Mcanear sold 1,245 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $47.75, for a total value of $59,448.75. Following the completion of the transaction, the chief financial officer now owns 75,519 shares in the company, valued at approximately $3,606,032.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,928 shares of company stock valued at $342,952. 11.08% of the stock is owned by corporate insiders.

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.