10x Genomics, Inc. to Post Q3 2024 Earnings of ($0.31) Per Share, Leerink Partnrs Forecasts (NASDAQ:TXG)

10x Genomics, Inc. (NASDAQ:TXG) – Analysts at Leerink Partnrs cut their Q3 2024 EPS estimates for 10x Genomics in a note issued to investors on Wednesday, October 9th. Leerink Partnrs analyst P. Souda now anticipates that the company will post earnings per share of ($0.31) for the quarter, down from their previous forecast of ($0.27). Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for 10x Genomics’ current full-year earnings is ($1.32) per share. Leerink Partnrs also issued estimates for 10x Genomics’ Q4 2024 earnings at ($0.35) EPS, FY2024 earnings at ($1.48) EPS, Q1 2025 earnings at ($0.39) EPS, Q2 2025 earnings at ($0.30) EPS, Q3 2025 earnings at ($0.25) EPS, Q4 2025 earnings at ($0.16) EPS, FY2025 earnings at ($1.11) EPS and FY2026 earnings at ($0.79) EPS.

A number of other brokerages have also recently issued reports on TXG. Guggenheim reiterated a “neutral” rating on shares of 10x Genomics in a report on Tuesday, June 25th. UBS Group dropped their price target on 10x Genomics from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Wolfe Research restated a “peer perform” rating on shares of 10x Genomics in a research report on Thursday, June 27th. Morgan Stanley decreased their price target on 10x Genomics from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 13th. Finally, Bank of America decreased their price target 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 equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, 10x Genomics presently has a consensus rating of “Moderate Buy” and an average target price of $30.80.

10x Genomics Price Performance

Shares of 10x Genomics stock opened at $16.26 on Monday. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -8.05 and a beta of 1.85. The business has a fifty day simple moving average of $21.43 and a two-hundred day simple moving average of $23.28. 10x Genomics has a 1 year low of $14.02 and a 1 year high of $57.90.

10x Genomics (NASDAQ:TXG) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.15. The business had revenue of $153.10 million for the quarter, compared to the consensus estimate of $150.90 million. 10x Genomics had a negative net margin of 37.90% and a negative return on equity of 28.23%.

Insider Activity

In other news, insider Benjamin J. Hindson sold 4,351 shares of 10x Genomics stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $98,028.03. Following the sale, the insider now directly owns 345,704 shares in the company, valued at approximately $7,788,711.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $98,028.03. Following the completion of the transaction, the insider now directly owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Serge Saxonov sold 6,749 shares of the business’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 transaction of $152,054.97. Following the sale, the chief executive officer now directly owns 882,467 shares of the company’s stock, valued at approximately $19,881,981.51. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,061 shares of company stock worth $316,794. 10.03% of the stock is owned by corporate insiders.

Institutional Trading of 10x Genomics

Hedge funds and other institutional investors have recently modified their holdings of the stock. ARK Investment Management LLC grew its position in 10x Genomics by 48.2% during the 2nd quarter. ARK Investment Management LLC now owns 9,313,763 shares of the company’s stock worth $181,153,000 after acquiring an additional 3,029,951 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in 10x Genomics by 69.6% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,143,067 shares of the company’s stock worth $119,483,000 after acquiring an additional 2,521,289 shares during the last quarter. Nikko Asset Management Americas Inc. grew its position in 10x Genomics by 58.6% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 3,621,778 shares of the company’s stock worth $135,780,000 after acquiring an additional 1,338,248 shares during the last quarter. Deerfield Management Company L.P. Series C bought a new stake in 10x Genomics during the 2nd quarter worth $11,612,000. Finally, Price T Rowe Associates Inc. MD grew its position in 10x Genomics by 17.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,657,227 shares of the company’s stock worth $137,257,000 after acquiring an additional 553,053 shares during the last quarter. Institutional investors 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.