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10X Genomics Reports Q2 Preliminary Revenues, Shares Plummet On Missing Street Expectation

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  • 10X Genomics Inc (NASDAQ: TXG) reported preliminary second-quarter revenue is expected to be ~$114.5 million, a decrease of 1% year-over-year, below the consensus of $127.7 million.

  • The company sees America's revenue of ~$70.9 million (+8% Y/Y), EMEA ~$25.6 million (-11% Y/Y), and APAC of ~$18.1 million (-15% Y/Y).

  • Separately, 10x Genomics announced the appointment of Jim Wilbur, Ph.D., as Chief Commercial Officer, effective July 27.

  • Mr. Wilbur brings nearly 30 years of experience building businesses, developing high-performance teams, and scaling commercial organizations to drive growth and customer success. He joins 10x Genomics from Meso Scale Discovery (MSD), the world's leading provider of highly sensitive multiplex immunoassays.

  • Earlier today, Goldman Sachs lowered the price target on 10X Genomics to $60 (an upside of 38.6%) from $80 while maintaining the Neutral rating on the shares.

  • Price Action: TXG shares are trading lower by 14.55% at $36.99 during the post-market session on Thursday.

Latest Ratings for TXG

Date

Firm

Action

From

To

Feb 2022

Citigroup

Maintains

Buy

Nov 2021

Morgan Stanley

Maintains

Overweight

Sep 2021

National Bank Of Canada

Initiates Coverage On

Sector Perform

View More Analyst Ratings for TXG

View the Latest Analyst Ratings

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