William Blair Expects Increased Earnings for 10x Genomics

10x Genomics, Inc. (NASDAQ:TXG) – Stock analysts at William Blair increased their FY2024 earnings per share estimates for shares of 10x Genomics in a research report issued to clients and investors on Wednesday, October 30th. William Blair analyst M. Larew now forecasts that the company will post earnings of ($1.41) per share for the year, up from their prior estimate 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 announced its quarterly earnings results 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 return on equity of 25.07% and a negative net margin of 28.93%. The company had revenue of $151.65 million during the quarter, compared to analyst estimates of $158.84 million. During the same quarter in the previous year, the firm posted ($0.51) EPS. The firm’s quarterly revenue was down 1.3% on a year-over-year basis.

Other analysts have also issued research reports about the company. Jefferies Financial Group upgraded 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lowered 10x Genomics from a “buy” rating to a “hold” rating and cut their price objective for the company from $55.00 to $25.00 in a report on Wednesday, July 10th. Stifel Nicolaus cut their price objective on 10x Genomics from $53.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Canaccord Genuity Group cut their price objective on 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Finally, UBS Group reduced their target price on 10x Genomics from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday. One investment 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. Based on data from MarketBeat.com, 10x Genomics currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.19.

10x Genomics Stock Up 1.9 %

Shares of 10x Genomics stock opened at $16.33 on Friday. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of -10.67 and a beta of 1.85. The business has a fifty day simple moving average of $19.85 and a 200-day simple moving average of $21.33. 10x Genomics has a fifty-two week low of $14.02 and a fifty-two week high of $57.90.

Insider Activity at 10x Genomics

In related news, CFO Justin J. Mcanear sold 2,961 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $66,711.33. Following the transaction, the chief financial officer now directly owns 143,242 shares of the company’s stock, valued at approximately $3,227,242.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Justin J. Mcanear sold 2,961 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $66,711.33. Following the transaction, the chief financial officer now directly owns 143,242 shares of the company’s stock, valued at approximately $3,227,242.26. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Serge Saxonov sold 6,749 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was 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 directly owns 882,467 shares in the company, valued at approximately $19,881,981.51. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,061 shares of company stock valued at $316,794. Company insiders own 10.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased 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 worth $26,000 after purchasing an additional 371 shares during the last quarter. Covestor Ltd increased its holdings in shares of 10x Genomics by 501.7% during the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $39,000 after acquiring an additional 873 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of 10x Genomics by 451.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock valued at $35,000 after acquiring an additional 1,265 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of 10x Genomics during the 3rd quarter valued at about $35,000. Finally, Blue Trust Inc. increased its holdings in shares of 10x Genomics by 136.5% during the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after acquiring an additional 1,025 shares during the last quarter. 84.68% of the stock is owned by institutional investors and hedge funds.

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.