FY2024 EPS Estimates for 10x Genomics Boosted by Analyst

10x Genomics, Inc. (NASDAQ:TXG) – Research analysts at William Blair upped their FY2024 earnings per share estimates for 10x Genomics in a report released on Wednesday, October 30th. William Blair analyst M. Larew now anticipates that the company will earn ($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 announced its quarterly earnings data 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 firm had revenue of $151.65 million for the quarter, compared to analysts’ expectations of $158.84 million. During the same period last year, the business posted ($0.51) earnings per share. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis.

A number of other equities analysts have also recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of 10x Genomics from $53.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Barclays cut their price target on 10x Genomics from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, October 15th. Bank of America lowered their price objective on 10x Genomics from $36.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, July 18th. 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 research note on Monday, July 22nd. Finally, The Goldman Sachs Group reduced their price target on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a report on Wednesday. One 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.31.

10x Genomics Stock Performance

10x Genomics stock opened at $16.03 on Friday. 10x Genomics has a 1 year low of $14.02 and a 1 year high of $57.90. The firm’s 50-day moving average is $19.99 and its 200-day moving average is $21.45.

Institutional Trading of 10x Genomics

Hedge funds and other institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 purchasing an additional 371 shares during the period. GAMMA Investing LLC boosted its stake 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 buying an additional 1,265 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of 10x Genomics by 74.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock valued at $37,000 after acquiring an additional 808 shares in the last quarter. Covestor Ltd increased its stake in shares of 10x Genomics by 501.7% in the first quarter. Covestor Ltd now owns 1,047 shares of the company’s stock worth $39,000 after acquiring an additional 873 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of 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 acquiring an additional 1,025 shares in the last quarter. Institutional investors and hedge funds own 84.68% of the company’s stock.

Insider Transactions at 10x Genomics

In other news, CEO Serge Saxonov sold 6,749 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction 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 trade 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. In other news, CFO Justin J. Mcanear sold 2,961 shares of 10x Genomics 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 $66,711.33. Following the transaction, the chief financial officer now directly owns 143,242 shares of the company’s stock, valued at $3,227,242.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Serge Saxonov sold 6,749 shares of the company’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 transaction of $152,054.97. Following the completion of the sale, the chief executive officer now 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,061 shares of company stock valued at $316,794. Corporate insiders own 10.03% 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.