FY2024 EPS Estimates for 10x Genomics Boosted by Analyst

10x Genomics, Inc. (NASDAQ:TXG) – Stock analysts at Leerink Partnrs upped their FY2024 EPS estimates for 10x Genomics in a report released on Tuesday, October 29th. Leerink Partnrs analyst P. Souda now anticipates that the company will earn ($1.46) per share for the year, up from their previous estimate 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.

A number of other research analysts have also weighed in on the stock. UBS Group dropped their price objective on shares of 10x Genomics from $25.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday. Leerink Partners began coverage on 10x Genomics in a research note on Tuesday, September 3rd. They set an “outperform” rating and a $35.00 price target for the company. Morgan Stanley decreased their price objective on 10x Genomics from $50.00 to $46.00 and set an “overweight” rating for the company in a report on Tuesday, August 13th. Stifel Nicolaus dropped 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. Finally, The Goldman Sachs Group decreased their price target on 10x Genomics from $16.00 to $14.00 and set a “sell” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.31.

10x Genomics Trading Down 2.8 %

Shares of TXG opened at $16.03 on Friday. The business’s fifty day moving average is $19.99 and its 200 day moving average is $21.45. 10x Genomics has a 12-month low of $14.02 and a 12-month high of $57.90.

10x Genomics (NASDAQ:TXG) last announced 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. The business had revenue of $151.65 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.51) earnings per share.

Hedge Funds Weigh In On 10x Genomics

A number of large investors have recently made changes to their positions in TXG. Allspring Global Investments Holdings LLC boosted its position in shares of 10x Genomics by 113.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 698 shares of the company’s stock valued at $26,000 after acquiring an additional 371 shares during the period. First Horizon Advisors Inc. lifted its stake in 10x Genomics by 74.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,898 shares of the company’s stock worth $37,000 after purchasing an additional 808 shares in the last quarter. Covestor Ltd boosted its holdings in 10x Genomics by 501.7% in the 1st quarter. Covestor Ltd now owns 1,047 shares of the company’s stock valued at $39,000 after purchasing an additional 873 shares during the period. Blue Trust Inc. grew its position in shares of 10x Genomics by 136.5% during the 3rd quarter. Blue Trust Inc. now owns 1,776 shares of the company’s stock valued at $40,000 after purchasing an additional 1,025 shares in the last quarter. Finally, GAMMA Investing LLC grew its position 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 purchasing an additional 1,265 shares in the last quarter. 84.68% of the stock is owned by institutional investors.

Insider Activity at 10x Genomics

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 shares of the firm’s stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Justin J. Mcanear sold 2,961 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 $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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Benjamin J. Hindson sold 4,351 shares of the firm’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 transaction of $98,028.03. Following the completion of the transaction, the insider now directly owns 345,704 shares of the company’s stock, valued at approximately $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. Over the last quarter, insiders have sold 14,061 shares of company stock worth $316,794. 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.