10x Genomics FY2024 EPS Forecast Lifted by Leerink Partnrs

10x Genomics, Inc. (NASDAQ:TXG) – Investment analysts at Leerink Partnrs raised their FY2024 earnings per share estimates for shares of 10x Genomics in a research report issued to clients and investors on Tuesday, October 29th. Leerink Partnrs analyst P. Souda now anticipates that the company will post earnings per share of ($1.46) for the year, up from their previous forecast of ($1.48). Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for 10x Genomics’ current full-year earnings is ($1.35) per share. Leerink Partnrs also issued estimates for 10x Genomics’ Q4 2024 earnings at ($0.34) EPS, Q1 2025 earnings at ($0.42) EPS, Q2 2025 earnings at ($0.33) EPS, Q3 2025 earnings at ($0.29) EPS, Q4 2025 earnings at ($0.22) EPS, FY2025 earnings at ($1.26) EPS and FY2026 earnings at ($0.91) EPS.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $151.65 million for the quarter, compared to analyst estimates of $158.84 million. During the same period last year, the company earned ($0.51) EPS. The firm’s revenue was down 1.3% on a year-over-year basis.

Other research analysts have also issued reports about the company. Stifel Nicolaus reduced their target price on 10x Genomics from $53.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Canaccord Genuity Group reduced their target price on 10x Genomics from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. The Goldman Sachs Group reduced their target price on 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a report on Wednesday. Barclays reduced their target price on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Jefferies Financial Group upgraded 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to 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 %

NASDAQ:TXG opened at $16.33 on Friday. The stock’s fifty day simple moving average is $19.85 and its 200-day simple moving average is $21.33. The firm has a market capitalization of $1.97 billion, a P/E ratio of -10.67 and a beta of 1.85. 10x Genomics has a 12-month low of $14.02 and a 12-month high of $57.90.

Hedge Funds Weigh In On 10x Genomics

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its position in 10x Genomics by 113.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock worth $26,000 after buying an additional 371 shares during the last quarter. Covestor Ltd increased its position in 10x Genomics by 501.7% during the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after buying an additional 873 shares during the last quarter. GAMMA Investing LLC increased its position in 10x Genomics by 451.8% during the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after buying an additional 1,265 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in 10x Genomics during the third quarter worth approximately $35,000. Finally, Blue Trust Inc. increased its position in 10x Genomics by 136.5% during the third quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock worth $40,000 after buying an additional 1,025 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Activity at 10x Genomics

In related news, CFO Justin J. Mcanear sold 2,961 shares of 10x Genomics stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $66,711.33. Following the sale, the chief financial officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Justin J. Mcanear sold 2,961 shares of 10x Genomics stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total value of $66,711.33. Following the sale, the chief financial officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Serge Saxonov sold 6,749 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 value of $152,054.97. Following the completion of 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,061 shares of company stock valued at $316,794. 10.03% of the stock is owned by insiders.

About 10x Genomics

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.