Q2 2024 Earnings Estimate for 10x Genomics, Inc. Issued By William Blair (NASDAQ:TXG)

10x Genomics, Inc. (NASDAQ:TXG) – William Blair lifted their Q2 2024 EPS estimates for 10x Genomics in a note issued to investors on Wednesday, May 1st. William Blair analyst M. Larew now anticipates that the company will post earnings per share of ($0.53) 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 data 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 net margin of 42.20% and a negative return on equity of 30.85%. The firm had revenue of $141.01 million for the quarter, compared to analyst estimates of $142.24 million. During the same quarter in the previous year, the business posted ($0.44) EPS. The firm’s revenue was up 5.0% compared to the same quarter last year.

Other analysts also recently issued research reports about the stock. Barclays decreased their price target on shares of 10x Genomics from $55.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, April 10th. UBS Group dropped their target price on shares of 10x Genomics from $52.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday. The Goldman Sachs Group reduced their price target on shares of 10x Genomics from $30.00 to $26.00 and set a “sell” rating on the stock in a research report on Wednesday. TD Cowen lowered 10x Genomics from a “buy” rating to a “hold” rating and lowered their price objective for the company from $57.00 to $32.00 in a report on Wednesday. Finally, Bank of America cut their price objective on 10x Genomics from $45.00 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.50.

10x Genomics Stock Down 2.3 %

Shares of NASDAQ TXG opened at $26.29 on Friday. 10x Genomics has a fifty-two week low of $24.60 and a fifty-two week high of $63.57. The business has a 50 day moving average price of $36.54 and a two-hundred day moving average price of $42.29. The firm has a market cap of $3.13 billion, a PE ratio of -11.79 and a beta of 1.94.

Hedge Funds Weigh In On 10x Genomics

A number of institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its holdings in shares of 10x Genomics by 56.4% in the third quarter. FMR LLC now owns 12,666,998 shares of the company’s stock worth $522,514,000 after buying an additional 4,565,400 shares during the period. Venrock Management VI LLC purchased a new position in 10x Genomics during the 4th quarter worth approximately $117,894,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of 10x Genomics by 58.6% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,621,778 shares of the company’s stock worth $135,925,000 after buying an additional 1,338,248 shares during the period. Nikko Asset Management Americas Inc. boosted its position 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 worth $135,780,000 after buying an additional 1,338,248 shares during the period. Finally, ARK Investment Management LLC grew its holdings in shares of 10x Genomics by 35.0% during the fourth quarter. ARK Investment Management LLC now owns 4,041,287 shares of the company’s stock valued at $226,150,000 after buying an additional 1,047,827 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Insider Buying and Selling at 10x Genomics

In other news, CEO Serge Saxonov sold 4,660 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $44.00, for a total value of $205,040.00. Following the completion of the transaction, the chief executive officer now owns 842,900 shares of the company’s stock, valued at $37,087,600. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Justin J. Mcanear sold 1,865 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total transaction of $86,424.10. Following the completion of the sale, the chief financial officer now directly owns 95,240 shares of the company’s stock, valued at approximately $4,413,421.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Serge Saxonov sold 4,660 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $44.00, for a total value of $205,040.00. Following the sale, the chief executive officer now directly owns 842,900 shares in the company, valued at $37,087,600. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,959 shares of company stock worth $592,806. 10.65% of the stock is owned by insiders.

10x Genomics Company Profile

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.