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In a turbulent market environment, 10X Genomics Inc . (NASDAQ:TXG) stock has tumbled to a 52-week low, reaching a price level of just $7.43. According to InvestingPro data, technical indicators suggest the stock is in oversold territory, with a current ratio of 4.97 indicating strong short-term liquidity. This significant downturn reflects a stark contrast from its previous performance, with the company’s shares experiencing a precipitous 1-year change, plummeting by -77.7%. Investors are closely monitoring the biotech firm’s trajectory as it navigates through a challenging period, marked by this new low point in its stock valuation. The market is keenly awaiting the company’s strategic moves to rebound from this downturn and regain its footing in the competitive landscape. InvestingPro analysis suggests the stock is currently undervalued, with the company maintaining more cash than debt on its balance sheet. Discover 10 additional exclusive ProTips and comprehensive valuation metrics with an InvestingPro subscription.
In other recent news, 10x Genomics has reported its fourth-quarter revenue for 2024, achieving $165 million, which exceeded analysts’ expectations of $153.44 million. Despite this revenue beat, the company posted a loss per share of -$0.40, falling short of the forecasted -$0.31. Analysts from Citi and Canaccord Genuity have adjusted their price targets for 10x Genomics, with Citi lowering it to $20 and Canaccord Genuity to $18, while both firms maintain a Buy rating. These adjustments come after the company’s earnings report and reflect ongoing concerns about NIH funding and pricing pressures.
Additionally, 10x Genomics secured a permanent injunction against Parse Biosciences, prohibiting them from manufacturing or selling certain products due to patent infringements. This legal victory underscores the strength of 10x Genomics’ patent portfolio. The company is transitioning to its Gem-X technology, which is expected to drive future growth, although it anticipates modest revenue growth for 2025 due to various headwinds.
The company has set its 2025 revenue guidance between $610 million and $630 million, slightly below consensus estimates, factoring in uncertainties related to NIH funding. Despite these challenges, 10x Genomics continues to innovate with new product launches and is optimistic about future opportunities, especially within the biopharma sector.
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