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

10x Genomics, Inc. (NASDAQ:TXG) – Investment analysts at William Blair increased their Q2 2024 EPS estimates for shares of 10x Genomics in a research note issued on Wednesday, May 1st. William Blair analyst M. Larew now expects 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 ($1.47) 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.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Tuesday, April 30th. The company reported ($0.50) EPS for the quarter, hitting analysts’ consensus estimates of ($0.50). 10x Genomics had a negative return on equity of 30.85% and a negative net margin of 42.20%. The business had revenue of $141.01 million during the quarter, compared to analysts’ expectations of $142.24 million. During the same quarter in the prior year, the business posted ($0.44) earnings per share. The business’s quarterly revenue was up 5.0% on a year-over-year basis.

A number of other equities research analysts have also recently commented on TXG. Stifel Nicolaus decreased their price target on 10x Genomics from $63.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday. TD Cowen downgraded 10x Genomics from a “buy” rating to a “hold” rating and decreased their target price for the company from $57.00 to $32.00 in a research note on Wednesday. The Goldman Sachs Group dropped their price target on 10x Genomics from $30.00 to $26.00 and set a “sell” rating for the company in a research note on Wednesday. Canaccord Genuity Group reduced their price objective on shares of 10x Genomics from $65.00 to $50.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of 10x Genomics from $60.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $48.50.

10x Genomics Trading Up 4.5 %

Shares of NASDAQ:TXG opened at $27.48 on Friday. 10x Genomics has a 12-month low of $24.60 and a 12-month high of $63.57. The company has a market cap of $3.27 billion, a PE ratio of -12.24 and a beta of 1.94. The stock has a 50 day moving average of $36.16 and a 200 day moving average of $42.18.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TXG. Allspring Global Investments Holdings LLC grew its position in 10x Genomics by 113.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after acquiring an additional 371 shares during the last quarter. UMB Bank n.a. increased its stake in 10x Genomics by 51.6% in the 4th quarter. UMB Bank n.a. now owns 782 shares of the company’s stock worth $44,000 after buying an additional 266 shares during the period. Harvest Fund Management Co. Ltd purchased a new position in 10x Genomics in the 4th quarter worth about $66,000. Van ECK Associates Corp lifted its holdings in 10x Genomics by 23.4% during the 4th quarter. Van ECK Associates Corp now owns 1,908 shares of the company’s stock valued at $107,000 after buying an additional 362 shares in the last quarter. Finally, Powell Investment Advisors LLC purchased a new stake in 10x Genomics in the 4th quarter valued at about $200,000. Institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling

In other 10x Genomics news, insider Benjamin J. Hindson sold 2,613 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total transaction of $121,086.42. Following the completion of the transaction, the insider now owns 283,059 shares in the company, valued at $13,116,954.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other 10x Genomics news, insider Benjamin J. Hindson sold 2,613 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 transaction of $121,086.42. Following the sale, the insider now directly owns 283,059 shares of the company’s stock, valued at $13,116,954.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Serge Saxonov sold 2,821 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $46.34, for a total value of $130,725.14. Following the sale, the chief executive officer now owns 847,560 shares in the company, valued at approximately $39,275,930.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,959 shares of company stock worth $592,806. Insiders own 10.65% 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.