William Blair Boosts Earnings Estimates for 10x Genomics

10x Genomics, Inc. (NASDAQ:TXG) – Equities research analysts at William Blair raised their FY2024 earnings per share estimates for shares of 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 per share of ($1.41) 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.

A number of other equities analysts also recently commented on the company. Barclays cut their price objective on 10x Genomics from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Friday. Bank of America dropped their target price on 10x Genomics from $36.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, July 18th. Stephens reiterated an “overweight” rating and set a $30.00 target price on shares of 10x Genomics in a report on Thursday, October 10th. Morgan Stanley dropped their target price on 10x Genomics from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Tuesday, August 13th. Finally, Leerink Partnrs upgraded 10x Genomics to a “strong-buy” rating in a report on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $29.19.

10x Genomics Price Performance

10x Genomics stock opened at $16.33 on Friday. The stock’s 50-day moving average is $19.85 and its 200-day moving average is $21.33. The company has a market cap of $1.97 billion, a price-to-earnings 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.

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

Insider Buying and Selling at 10x Genomics

In other news, insider Benjamin J. Hindson sold 4,351 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 value of $98,028.03. Following the completion of 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 can be accessed through this hyperlink. In other news, 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 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Benjamin J. Hindson sold 4,351 shares of the business’s stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,061 shares of company stock valued at $316,794 in the last three months. Corporate insiders own 10.03% of the company’s stock.

Institutional Investors Weigh In On 10x Genomics

A number of institutional investors have recently made changes to their positions in TXG. Allspring Global Investments Holdings LLC grew its stake in 10x Genomics by 113.5% during the 1st 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. First Horizon Advisors Inc. grew its stake in 10x Genomics by 74.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock worth $37,000 after buying an additional 808 shares during the last quarter. Covestor Ltd grew its stake in 10x Genomics by 501.7% during the 1st 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. Blue Trust Inc. grew its stake in 10x Genomics by 136.5% during the 3rd 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. Finally, GAMMA Investing LLC grew its stake in 10x Genomics by 451.8% during the 3rd 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. 84.68% of the stock is currently owned by institutional investors.

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.