10x Genomics FY2024 EPS Estimate Increased by William Blair

10x Genomics, Inc. (NASDAQ:TXG) – Analysts at William Blair increased their FY2024 EPS estimates for 10x Genomics in a research note issued to investors on Wednesday, October 30th. William Blair analyst M. Larew now expects that the company will post earnings of ($1.41) per share for the year, up from their previous forecast of ($1.68). The consensus estimate for 10x Genomics’ current full-year earnings is ($1.35) per share. William Blair also issued estimates for 10x Genomics’ Q4 2024 earnings at ($0.30) EPS and FY2025 earnings at ($1.28) EPS.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings data on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.04. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The firm had revenue of $151.65 million during the quarter, compared to analysts’ expectations of $158.84 million. During the same period in the prior year, the company posted ($0.51) earnings per share. 10x Genomics’s revenue for the quarter was down 1.3% on a year-over-year basis.

TXG has been the subject of a number of other research reports. Stifel Nicolaus decreased their target price on 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. Barclays lowered their target price on shares of 10x Genomics from $24.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 15th. Stephens reiterated an “overweight” rating and issued a $30.00 target price on shares of 10x Genomics in a report on Thursday, October 10th. Leerink Partners started coverage on shares of 10x Genomics in a report on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price target for the company. Finally, Bank of America dropped their price objective on 10x Genomics from $36.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, July 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.31.

10x Genomics Trading Down 2.8 %

TXG opened at $16.03 on Friday. The stock has a 50-day moving average of $19.99 and a 200-day moving average of $21.45. 10x Genomics has a 52-week low of $14.02 and a 52-week high of $57.90.

Insiders Place Their Bets

In other news, CEO Serge Saxonov sold 6,749 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $152,054.97. Following the completion of the transaction, the chief executive officer now owns 882,467 shares in the company, valued at approximately $19,881,981.51. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Serge Saxonov sold 6,749 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $152,054.97. Following the sale, the chief executive officer now directly owns 882,467 shares in the company, valued at approximately $19,881,981.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Benjamin J. Hindson sold 4,351 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $98,028.03. Following the transaction, the insider now owns 345,704 shares of the company’s stock, valued at $7,788,711.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,061 shares of company stock worth $316,794 over the last 90 days. Corporate insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in 10x Genomics by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,101,536 shares of the company’s stock valued at $341,581,000 after purchasing an additional 90,204 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 10x Genomics by 264.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 319,287 shares of the company’s stock worth $11,983,000 after purchasing an additional 231,697 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of 10x Genomics by 604.9% in the second quarter. SG Americas Securities LLC now owns 101,344 shares of the company’s stock valued at $1,971,000 after buying an additional 86,967 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in shares of 10x Genomics in the third quarter valued at about $877,000. Finally, Marshall Wace LLP acquired a new position in 10x Genomics during the 2nd quarter worth about $689,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

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.