Movement Alert|10x Genomics, Inc. Rises 5.05% in Regular Trading, Optimistic Earnings Preview and Multi-Institution Collaborations Catalyze Rally

Market Focus07-31

On July 31, 10x Genomics, Inc. rose 5.05% in regular trading, trading at $48.66/share, with turnover of $50.66 million.

On the news front, the company is set to report quarterly earnings on August 6 after market close, with consensus estimates projecting revenue of approximately $147 million, representing 5.28% year-over-year growth, while adjusted EPS is expected at -$0.24, a 34.45% improvement from the prior year. Additionally, the company recently established collaborations with Lausanne University Hospital and Cleveland Clinic to advance single-cell and spatial technology applications in cancer diagnostics, and completed its acquisition of Proteintech Genomics to expand proteomics capabilities.

BofA Securities raised its price target significantly from $30 to $46 in July, with overall analyst sentiment rated overweight. The prior quarter saw strong results with EPS of -$0.10 beating estimates of -$0.30 by 66.67%, while revenue of $150.8 million also exceeded expectations.

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