10x Genomics (NASDAQ:TXG) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

10x Genomics (NASDAQ:TXG) announced its quarterly earnings data on Tuesday. The company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.04, Briefing.com reports. The firm had revenue of $151.65 million for the quarter, compared to analyst estimates of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.51) earnings per share. 10x Genomics updated its FY 2024 guidance to EPS.

10x Genomics Stock Down 2.8 %

TXG opened at $16.03 on Friday. The firm’s fifty day simple moving average is $19.99 and its two-hundred day simple moving average is $21.45. 10x Genomics has a 52-week low of $14.02 and a 52-week high of $57.90.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Canaccord Genuity Group decreased their target price on 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 10th. The Goldman Sachs Group dropped their price objective on shares of 10x Genomics from $16.00 to $14.00 and set a “sell” rating on the stock in a report on Wednesday. Jefferies Financial Group raised shares of 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft lowered shares of 10x Genomics from a “buy” rating to a “hold” rating and lowered their price target for the company from $55.00 to $25.00 in a report on Wednesday, July 10th. Finally, Leerink Partnrs raised 10x Genomics to a “strong-buy” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.31.

Insider Transactions 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 directly owns 143,242 shares in the company, valued at approximately $3,227,242.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other 10x Genomics news, CFO Justin J. Mcanear sold 2,961 shares of 10x Genomics stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total transaction of $66,711.33. Following the sale, the chief financial officer now owns 143,242 shares of the company’s stock, valued at $3,227,242.26. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Benjamin J. Hindson sold 4,351 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was 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 of the company’s stock, valued at $7,788,711.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 14,061 shares of company stock valued at $316,794 over the last 90 days. Corporate insiders own 10.03% of the company’s stock.

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.