10x Genomics (NASDAQ:TXG) Issues Quarterly Earnings Results

10x Genomics (NASDAQ:TXG) posted its quarterly earnings data on Tuesday. The company reported ($0.50) EPS for the quarter, hitting analysts’ consensus estimates of ($0.50), Yahoo Finance reports. The company had revenue of $141.01 million for the quarter, compared to the consensus estimate of $142.24 million. 10x Genomics had a negative return on equity of 30.43% and a negative net margin of 42.20%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.44) EPS. 10x Genomics updated its FY 2024 guidance to EPS.

10x Genomics Trading Down 4.3 %

NASDAQ TXG traded down $1.16 on Thursday, reaching $25.76. The stock had a trading volume of 800,722 shares, compared to its average volume of 1,536,943. The business has a 50 day moving average price of $36.94 and a 200 day moving average price of $42.40. 10x Genomics has a 1 year low of $24.60 and a 1 year high of $63.57. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -12.07 and a beta of 1.94.

Insider Buying and Selling at 10x Genomics

In other 10x Genomics news, CEO Serge Saxonov sold 4,660 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $44.00, for a total value of $205,040.00. Following the transaction, the chief executive officer now owns 842,900 shares in the company, valued at $37,087,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Justin J. Mcanear sold 1,865 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $46.34, for a total transaction of $86,424.10. Following the transaction, the chief financial officer now owns 95,240 shares of the company’s stock, valued at approximately $4,413,421.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Serge Saxonov sold 4,660 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $44.00, for a total value of $205,040.00. Following the transaction, the chief executive officer now directly owns 842,900 shares in the company, valued at approximately $37,087,600. The disclosure for this sale can be found here. Insiders have sold 12,959 shares of company stock worth $592,806 over the last 90 days. 10.65% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TXG shares. Bank of America cut their target price on 10x Genomics from $45.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday. The Goldman Sachs Group cut their target price on 10x Genomics from $30.00 to $26.00 and set a “sell” rating on the stock in a research report on Wednesday. UBS Group lowered their price target on 10x Genomics from $52.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered their price target on 10x Genomics from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Canaccord Genuity Group lowered their price target on 10x Genomics from $65.00 to $50.00 and set a “buy” rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, 10x Genomics presently has an average rating of “Moderate Buy” and a consensus target price of $48.50.

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.