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.

TXG Price Chart

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.