10X Genomics is a biotechnology company that specializes in genomic analysis, providing tools and technologies for researchers in the life sciences sector. The company develops innovative products that enable high-resolution analysis of biological systems, allowing scientists to explore complex interactions at the single-cell level. By offering advanced sequencing and gene expression solutions, 10X Genomics supports a wide range of applications in genomics, transcriptomics, and immunology, aiming to accelerate the discovery of new insights into health and disease. Read More
A number of stocks jumped in the afternoon session after markets rallied sharply on news that President Trump announced a 90-day tariff pause. Reciprocal tariffs were also dropped to 10% for most countries, sparking renewed optimism amid ongoing trade talks. The major stock indices rose as investors, growing impatient of seemingly irrational tariff actions, welcomed the pause as a sign of a more measured path forward.
As the Q4 earnings season wraps, let’s dig into this quarter’s best and worst performers in the life sciences tools & services industry, including 10x Genomics (NASDAQ:TXG) and its peers.
What a brutal six months it’s been for 10x Genomics. The stock has dropped 52.1% and now trades at $10.59, rattling many shareholders. This was partly due to its softer quarterly results and might have investors contemplating their next move.
Stocks trading between $10 and $50 can be particularly interesting as they frequently represent businesses that have survived their early challenges.
However, investors should remain vigilant as some may still have unproven business models, leaving them vulnerable to the ebbs and flows of the broader market.
Shares of biotech company 10x Genomics (NASDAQ:TXG)
fell 8.5% in the pre-market session after the company reported disappointing fourth-quarter results: its EPS missed significantly, and its full-year revenue guidance fell short of Wall Street's estimates. Revenue declined by 10% year on year, reflecting ongoing weakness in demand, particularly in instrument sales, though consumables performed better.
Despite the revenue decline, gross margins improved, benefiting from a more favorable product mix. However, operating expenses remained elevated, and the company posted a larger-than-expected net loss, driving the EPS miss. Overall, this was a softer quarter.
10x Genomics reported a Q4 EPS loss of $(0.40), missing estimates, while revenue declined 10% year over year. Analysts lowered price targets amid profitability concerns.
Biotech company 10x Genomics (NASDAQ:TXG) reported Q4 CY2024 results beating Wall Street’s revenue expectations, but sales fell by 10.3% year on year to $165 million. On the other hand, the company’s full-year revenue guidance of $620 million at the midpoint came in 1.6% below analysts’ estimates. Its GAAP loss of $0.40 per share was 34.4% below analysts’ consensus estimates.
