10x Genomics (NYSE:TXG) Posts Earnings Results, Misses Expectations By $0.35 EPS

10x Genomics (NYSE:TXG) posted its quarterly earnings data on Sunday. The company reported ($0.65) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.35), MarketWatch Earnings reports. The firm had revenue of $71.82 million during the quarter, compared to analysts’ expectations of $61.19 million. 10x Genomics’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period last year, the firm earned ($0.33) earnings per share.

Shares of TXG stock opened at $138.55 on Monday. The business has a 50-day simple moving average of $141.91 and a 200-day simple moving average of $105.77. 10x Genomics has a 52-week low of $48.78 and a 52-week high of $166.31.

In related news, CEO Serge Saxonov sold 10,000 shares of 10x Genomics stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $113.97, for a total value of $1,139,700.00. Following the completion of the transaction, the chief executive officer now owns 955,821 shares in the company, valued at approximately $108,934,919.37. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Benjamin J. Hindson sold 27,692 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $113.97, for a total value of $3,156,057.24. Following the sale, the insider now owns 95,192 shares of the company’s stock, valued at $10,849,032.24. The disclosure for this sale can be found here. In the last three months, insiders sold 102,930 shares of company stock valued at $13,122,365.

TXG has been the subject of a number of recent analyst reports. Smith Barney Citigroup raised their price objective on 10x Genomics from $120.00 to $165.00 in a research report on Wednesday, November 11th. Zacks Investment Research cut 10x Genomics from a “buy” rating to a “hold” rating in a research report on Friday. Bank of America lifted their price target on 10x Genomics from $109.00 to $138.00 and gave the stock a “buy” rating in a research report on Wednesday, September 16th. JPMorgan Chase & Co. lifted their price target on 10x Genomics from $110.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 15th. Finally, Morgan Stanley lifted their price target on 10x Genomics from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 11th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $115.70.

About 10x Genomics

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. Its company offers chromium instruments, enzymes, microfluidic chips, slides, reagents, and other consumable products.

Further Reading: Insider Trading

Earnings History for 10x Genomics (NYSE:TXG)

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