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In a turbulent market environment, 10X Genomics Inc (NASDAQ:TXG) stock has reached a new 52-week low, dipping to $10.78. According to InvestingPro data, technical indicators suggest the stock is in oversold territory, with a current market capitalization of $1.33 billion. The life sciences company, known for its innovative genetic sequencing technology, has faced significant headwinds over the past year, reflected in a stark 1-year change with a decline of -75.77%. Despite challenges, the company maintains strong fundamentals with a healthy gross profit margin of 67.91% and a robust current ratio of 4.97. InvestingPro analysis reveals 12 additional key insights about TXG’s financial health and market position, available to subscribers. Investors have shown concern as the stock plummeted from its previous highs, signaling a period of intense scrutiny and potential reassessment for the company’s growth strategies moving forward.
In other recent news, 10X Genomics reported its fourth-quarter 2024 earnings, revealing a revenue of $165 million, which exceeded expectations but marked a 10% decline year-over-year. The company’s earnings per share (EPS) came in at -$0.40, missing the analyst forecast of -$0.31. Despite the revenue beat, the EPS miss highlights ongoing profitability challenges for the company. Analysts from Citi and Canaccord Genuity have adjusted their price targets for 10X Genomics, with Citi setting it at $20 and Canaccord at $18, while both maintain a Buy rating. The company is facing potential revenue impacts due to uncertainties surrounding National Institutes of Health (NIH) funding, which could affect its 2025 guidance. The fiscal year 2025 revenue guidance is projected between $610 million and $630 million, slightly below consensus estimates. Management anticipates double-digit growth in specific product lines, although overall growth is expected to be modest. Additionally, 10X Genomics is undergoing a commercial reorganization aimed at improving focus and execution in its sales strategies.
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