William Blair Forecasts Increased Earnings for 10x Genomics

10x Genomics, Inc. (NASDAQ:TXG) – Investment analysts at William Blair lifted their FY2024 earnings estimates for 10x Genomics in a research report issued to clients and investors on Wednesday, October 30th. William Blair analyst M. Larew now expects that the company will post earnings per share of ($1.41) for the year, up from their prior estimate of ($1.68). The consensus estimate for 10x Genomics’ current full-year earnings is ($1.40) 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 issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.30) earnings per share 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 analysts’ expectations of $158.84 million. 10x Genomics had a negative net margin of 28.93% and a negative return on equity of 25.07%. The company’s revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.51) EPS.

Other research analysts also recently issued research reports about the company. Leerink Partners assumed coverage on 10x Genomics in a research note on Tuesday, September 3rd. They issued an “outperform” rating and a $35.00 price objective on the stock. Leerink Partnrs raised shares of 10x Genomics to a “strong-buy” rating in a report on Tuesday, September 3rd. Stephens reiterated an “overweight” rating and issued a $30.00 price target on shares of 10x Genomics in a research report on Thursday, October 10th. Bank of America decreased their price objective on shares of 10x Genomics from $36.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, July 18th. Finally, Canaccord Genuity Group dropped their target price on shares of 10x Genomics from $32.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, October 10th. One 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 issued a strong buy rating to the stock. According to MarketBeat, 10x Genomics currently has an average rating of “Moderate Buy” and a consensus price target of $29.19.

10x Genomics Stock Performance

NASDAQ TXG opened at $16.33 on Friday. The business’s fifty day moving average is $19.85 and its 200 day moving average is $21.27. 10x Genomics has a fifty-two week low of $14.02 and a fifty-two week high of $57.90. The company has a market capitalization of $1.97 billion, a PE ratio of -10.67 and a beta of 1.88.

Insider Activity

In other 10x Genomics news, insider Benjamin J. Hindson sold 4,351 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 value 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 $7,788,711.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Justin J. Mcanear sold 2,961 shares of the business’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 $66,711.33. Following the transaction, the chief financial officer now owns 143,242 shares of the company’s stock, valued at approximately $3,227,242.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 owns 345,704 shares of the company’s stock, valued at approximately $7,788,711.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 14,061 shares of company stock worth $316,794. 10.03% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TXG. Capital Performance Advisors LLP purchased a new position in shares of 10x Genomics during the 3rd quarter worth about $35,000. ARK Investment Management LLC raised its position in 10x Genomics by 15.4% in the 3rd quarter. ARK Investment Management LLC now owns 10,750,345 shares of the company’s stock worth $242,743,000 after purchasing an additional 1,436,582 shares during the period. Interchange Capital Partners LLC bought a new stake in 10x Genomics in the third quarter worth about $285,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of 10x Genomics by 84.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 23,952 shares of the company’s stock valued at $541,000 after buying an additional 10,935 shares during the period. Finally, International Assets Investment Management LLC bought a new position in shares of 10x Genomics during the third quarter valued at approximately $438,000. Institutional investors own 84.68% 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.