10x Genomics, Inc. ($TXG) Stock Forecast: Down 3.8% Today

What is 10x Genomics, Inc.?

10x Genomics (NASDAQ: TXG) is a biotechnology company that develops gene sequencing technology to advance scientific research and medical discoveries.

Why is 10x Genomics, Inc. going down?

TXG stock is down 3.8% on Oct 31, 2024 14:43

• Despite a loss in the third quarter, 10x Genomics (TXG) exceeded market expectations for earnings per share, potentially triggering a positive market sentiment initially.
• Nevertheless, a drop in instrument sales for the gene sequencing technology in the third quarter resulted in a negative trend for TXG stock, raising concerns among investors regarding revenue growth prospects.
• The conflicting outcomes of surpassing earnings expectations while encountering a decrease in sales underscored the market's emphasis on revenue generation and future growth potential for 10x Genomics, leading to the downward movement in the stock price.

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TXG Technical Analysis

TXG News

These Analysts Boost Their Forecasts On 10x Genomics After Q3 Results - 10x Genomics ( NASDAQ:TXG )

10x Genomics, Inc. TXG reported a loss for the third quarter on Tuesday. The company posted a quarterly loss of 30 cents per share, compared to market expectations for a loss of 34 cents per share. The company reported quarterly sales of $151.654 million which missed the analyst consensus ...

https://www.benzinga.com/news/earnings/24/10/41633749/these-analysts-boost-their-forecasts-on-10x-genomics-after-q3-results

Lower Instruments Sales to Hurt TXG Q3 Earnings, Prelim Sales Down

Per a preliminary report from 10x Genomics, the company's revenues will decline for the third quarter. Lower Instruments sales are likely to have been partially offset by consumable sales growth.

https://www.zacks.com/stock/news/2358968/lower-instruments-sales-to-hurt-txg-q3-earnings-prelim-sales-down

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10x Genomics, Inc. Price History

11.09.2024 - TXG Stock was up 12.0%

• Despite Q3 sales underperforming, the CEO's positive outlook on future opportunities potentially boosted investor confidence in 10x Genomics' long-term growth.
• Speculations suggest that Ark Invest's shift away from Moderna Inc. may have prompted some investors to consider alternative biotech companies like 10x Genomics, influencing the stock's rise.
• The general bullish market sentiment included optimism towards firms with growth potential in genomic technology, increasing the demand for 10x Genomics shares.

30.09.2024 - TXG Stock was up 5.8%

• Despite a decrease in instrument sales affecting Q3 earnings, TXG experienced a significant bullish surge today.
• Investor sentiment may be buoyed by the potential for growth in consumable sales, which helped mitigate the drop in instrument sales.
• The market appears to appreciate the company's emphasis on consumables as a more reliable source of revenue compared to instrument sales.
• This uptick in activity could suggest that investors have confidence in 10x Genomics' capability to overcome obstacles and expand into new revenue streams.

11.09.2024 - TXG Stock was up 5.4%

• TXG stock faced a decline after the Q3 sales results were below expectations, disappointing investors.
• The lackluster performance in Q3 may have raised concerns about the company's future growth and its ability to meet market forecasts.
• The decision by Ark Invest to sell off Moderna stock, despite positive post-COVID plans, likely added to a sense of caution in the biotech sector, impacting companies like 10x Genomics.
• In sum, the blend of TXG's financial results and the broader market dynamics probably contributed to the stock's downward movement today.

27.07.2024 - TXG Stock was down 5.0%

• TXG's stock decline may be linked to the CEO and executive's share sales, potentially signaling doubts about the company's future performance and unsettling investors.
• The considerable share volumes offloaded by top management raise concerns about TXG's growth potential and forthcoming financial outcomes, fostering negative investor sentiment.
• While executives may sell company stock for personal financial reasons or diversification, these actions have likely contributed to the current downward pressure on TXG's stock price.

10.09.2024 - TXG Stock was down 27.1%

• TXG stock experienced a bearish movement as the company's Q3 sales fell short of expectations, indicating a potential lack of strong revenue growth.
• The CEO's optimistic outlook for future opportunities may have reassured investors, but the initial disappointment in the sales figures likely contributed to the downward pressure on the stock.
• The market may be reacting to the uncertainty surrounding 10x Genomics' financial performance, leading to a sell-off as investors reevaluate their positions in the company.

31.09.2024 - TXG Stock was down 3.8%

• Despite a loss in the third quarter, 10x Genomics (TXG) exceeded market expectations for earnings per share, potentially triggering a positive market sentiment initially.
• Nevertheless, a drop in instrument sales for the gene sequencing technology in the third quarter resulted in a negative trend for TXG stock, raising concerns among investors regarding revenue growth prospects.
• The conflicting outcomes of surpassing earnings expectations while encountering a decrease in sales underscored the market's emphasis on revenue generation and future growth potential for 10x Genomics, leading to the downward movement in the stock price.

25.06.2024 - TXG Stock was up 5.6%

• Buying shares of Tesla despite recent challenges by a prominent investor could have signaled confidence in the EV sector, boosting overall market sentiment.
• The move to acquire shares of Tesla and CrowdStrike while selling off some Tesla stock might have led to a shift in investor focus towards innovative companies like 10x Genomics, contributing to its bullish movement.
• The positive sentiment around innovative tech companies like 10x Genomics, especially amidst turbulent market conditions, could have attracted more investors, driving the stock price higher.

13.07.2024 - TXG Stock was up 5.6%

• The uptrend in TXG stock today may be linked to a notable acquisition by Catherine Wood, boosting investor confidence in the company's future.
• Despite revising its 2024 guidance amid macro pressures, the market appears to view the company's adaptability positively.
• The recent appointment of Adam Taich as CFO could also be enhancing the optimistic outlook for TXG, suggesting potential strategic growth changes within the company.
• Positive sentiment towards gene editing stocks and the promise of medical advancements has likely contributed to the bullish momentum in 10x Genomics, with investors eyeing long-term growth opportunities in this sector.

09.07.2024 - TXG Stock was up 12.5%

• Positive earnings and revenue surprises in the recent financial report boosted TXG stock today.
• The company's adjustment in its 2024 guidance due to macro pressures was well-received by investors, showcasing its adaptability.
• The appointment of new CFO Adam Taich inspired confidence in the company's leadership and financial strategies.
• The optimistic outlook on gene editing stocks and market growth potential in the sector have fueled positive investor sentiment towards TXG.

07.07.2024 - TXG Stock was down 5.3%

• The bearish movement in TXG's stock today may be linked to negative earnings expectations, possibly leading to lower-than-expected earnings for the quarter.
• Market sentiment towards TXG could have been influenced by concerns over the company's performance in key metrics for the second quarter of 2024, contributing to downward pressure on the stock.
• Investors' reactions to the cautious outlook presented may be causing them to adjust their positions in TXG, reflecting the observed bearish movement in the market.

09.07.2024 - TXG Stock was up 7.3%

• The appointment of Adam Taich as the new CFO could have instilled confidence in investors, signaling potential positive strategic changes within the company.
• Despite reporting a loss in the second quarter, the fact that 10x Genomics topped revenue estimates could have reassured investors about the company's growth potential.
• The strong bullish movement in TXG's stock today might be attributed to the positive earnings surprise of 31.91% and revenue beat of 1.46% in the second quarter, indicating a strong performance and potential future growth.
• Wall Street estimates and projections for key metrics also likely played a role in boosting investor sentiment and driving the bullish movement in TXG's stock.

06.07.2024 - TXG Stock was up 5.7%

• The market movement of TXG today was likely influenced by the anticipation of its upcoming earnings report, which is expected to be negative. This could have resulted in a short-term surge in buying activity as investors may be speculating on potential future positive developments.