Leerink Partnrs Analysts Lower Earnings Estimates for 10x Genomics, Inc. (NASDAQ:TXG)

10x Genomics, Inc. (NASDAQ:TXG) – Investment analysts at Leerink Partnrs decreased their Q3 2024 earnings per share (EPS) estimates for shares of 10x Genomics in a research report issued on Wednesday, October 9th. Leerink Partnrs analyst P. Souda now anticipates that the company will post earnings of ($0.31) per share for the quarter, down from their prior forecast of ($0.27). Leerink Partnrs has a “Strong-Buy” rating on the stock. The consensus estimate for 10x Genomics’ current full-year earnings is ($1.32) per share. Leerink Partnrs also issued estimates for 10x Genomics’ Q4 2024 earnings at ($0.35) EPS, FY2024 earnings at ($1.48) EPS, Q1 2025 earnings at ($0.39) EPS, Q2 2025 earnings at ($0.30) EPS, Q3 2025 earnings at ($0.25) EPS, Q4 2025 earnings at ($0.16) EPS, FY2025 earnings at ($1.11) EPS and FY2026 earnings at ($0.79) EPS.

10x Genomics (NASDAQ:TXG) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.15. The company had revenue of $153.10 million for the quarter, compared to analysts’ expectations of $150.90 million. 10x Genomics had a negative return on equity of 28.23% and a negative net margin of 37.90%.

A number of other brokerages also recently issued reports on TXG. Barclays lowered their price target on 10x Genomics from $36.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, June 28th. The Goldman Sachs Group lowered their price target on 10x Genomics from $26.00 to $16.00 and set a “sell” rating on the stock in a report on Tuesday, July 9th. Stifel Nicolaus lowered 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. Jefferies Financial Group raised 10x Genomics from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Monday, July 22nd. Finally, Wolfe Research reissued a “peer perform” rating on shares of 10x Genomics in a report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $30.80.

10x Genomics Trading Up 3.8 %

10x Genomics stock opened at $16.26 on Monday. The business’s fifty day simple moving average is $21.43 and its two-hundred day simple moving average is $23.28. 10x Genomics has a 12 month low of $14.02 and a 12 month high of $57.90. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of -8.05 and a beta of 1.85.

Insider Transactions at 10x Genomics

In related news, insider Benjamin J. Hindson sold 4,351 shares of 10x Genomics 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 in the company, valued at $7,788,711.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other 10x Genomics news, CEO Serge Saxonov sold 6,749 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $22.53, for a total value of $152,054.97. Following the completion of the transaction, the chief executive officer now directly owns 882,467 shares of the company’s stock, valued at $19,881,981.51. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Benjamin J. Hindson sold 4,351 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $22.53, for a total transaction of $98,028.03. Following the transaction, the insider now directly owns 345,704 shares in the company, 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 have sold 14,061 shares of company stock valued at $316,794 in the last quarter. 10.03% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On 10x Genomics

Several large investors have recently made changes to their positions in TXG. Creative Planning bought a new stake in 10x Genomics during the third quarter worth approximately $214,000. VitalStone Financial LLC boosted its holdings in 10x Genomics by 43,183.3% during the third quarter. VitalStone Financial LLC now owns 15,582 shares of the company’s stock worth $352,000 after buying an additional 15,546 shares in the last quarter. Sound Income Strategies LLC bought a new stake in 10x Genomics during the third quarter worth approximately $46,000. CWM LLC boosted its holdings in 10x Genomics by 444.5% during the third quarter. CWM LLC now owns 22,810 shares of the company’s stock worth $515,000 after buying an additional 18,621 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in 10x Genomics by 451.8% during the third quarter. GAMMA Investing LLC now owns 1,545 shares of the company’s stock worth $35,000 after buying an additional 1,265 shares in the last quarter. Institutional investors and hedge funds own 84.68% 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.