10x Genomics Reports Quarterly Earnings Results, Falls Short of Expectations

10x Genomics (NASDAQ:TXG) released its quarterly earnings on Wednesday, revealing a loss of ($0.40) earnings per share (EPS). This figure was below analysts' expectations of ($0.32) by $0.08, as reported by Zacks. The company also highlighted a negative net margin of 28.93% and a return on equity of -25.07%. In response to market conditions, 10x Genomics provided an update on its guidance for FY 2025.

10x Genomics Stock Performance

On the day of the earnings announcement, shares of 10x Genomics traded up by 1.5%, reaching a price of $12.00. The trading volume for the day was about 4,201,812 shares, notably higher than its average volume of 2,328,019. Currently, the company has a market capitalization of approximately $1.45 billion, with a price-to-earnings ratio of -7.84 and a beta value of 1.85. Over the past fifty days, the stock has had a moving average of $14.90, while its two-hundred-day moving average stands at $17.50. The stock has seen a twelve-month low of $11.55 and a high of $51.22.

Analyst Price Target Updates

10x Genomics has been a topic of interest for various analysts, with multiple research firms adjusting their price targets. For example, Morgan Stanley revised their price target from $30.00 to $28.00, maintaining an 'overweight' rating for the company. Similarly, UBS Group lowered its target from $25.00 to $20.00 and set a 'neutral' rating. JPMorgan Chase reduced their projection from $20.00 to $14.00, while Goldman Sachs has decreased its price target from $16.00 to $14.00, assigning a 'sell' rating. Additionally, Barclays revised their aim from $19.00 to $18.00, sustaining an 'overweight' rating. Overall, there are mixed reviews; while one analyst rated it a 'sell', seven provided a 'hold' rating, eight suggested a 'buy', and one advocated for a 'strong buy'. The consensus average rating for 10x Genomics stands at 'Moderate Buy' with a target price of $23.79 according to MarketBeat.com.

Company Overview

10x Genomics, Inc. is a life sciences technology firm that focuses on developing and providing instruments, consumables, and software designed for analyzing biological systems globally, including regions such as America, Europe, the Middle East, Africa, China, and the Asia Pacific. Their product offerings encompass instruments like chromium, chromium connect, and chromium controller, along with microfluidic chips, slides, reagents, and various other consumables.

Conclusion and Outlook

The earnings results and market reaction reflect ongoing challenges and opportunities for 10x Genomics. Investors will likely keep a close watch on the company's future performance and guidance updates to gauge its growth trajectory.

10xGenomics, Earnings, Stock