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10x Genomics (TXG) Surges 8.2%: Is This an Indication of Further Gains?
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10x Genomics (TXG - Free Report) shares soared 8.2% in the last trading session to close at $16.99. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 26.4% loss over the past four weeks.
10x Genomics scored a strong price increase on investors’ optimism surrounding the recent announcement that its Xenium In Situ platform was used in a study published in the Journal of Dental Research, offering novel insights into cellular mechanisms regulating the formation of the secondary palate. Additionally, the company is slated to report its second-quarter 2024 financial results on Aug 8, after the closing bell. The Zacks Consensus Estimate for the second quarter revenue and earnings indicate a 3.1% and 13.2% growth respectively.
This life science technology company is expected to post quarterly loss of $0.46 per share in its upcoming report, which represents a year-over-year change of +13.2%. Revenues are expected to be $151.42 million, up 3.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For 10x Genomics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TXG going forward to see if this recent jump can turn into more strength down the road.
10x Genomics is part of the Zacks Medical Info Systems industry. Azenta (AZTA - Free Report) , another stock in the same industry, closed the last trading session 4.5% higher at $52.82. AZTA has returned -10.1% in the past month.
Brooks' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.08. Compared to the company's year-ago EPS, this represents a change of -38.5%. Brooks currently boasts a Zacks Rank of #3 (Hold).
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10x Genomics (TXG) Surges 8.2%: Is This an Indication of Further Gains?
10x Genomics (TXG - Free Report) shares soared 8.2% in the last trading session to close at $16.99. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 26.4% loss over the past four weeks.
10x Genomics scored a strong price increase on investors’ optimism surrounding the recent announcement that its Xenium In Situ platform was used in a study published in the Journal of Dental Research, offering novel insights into cellular mechanisms regulating the formation of the secondary palate. Additionally, the company is slated to report its second-quarter 2024 financial results on Aug 8, after the closing bell. The Zacks Consensus Estimate for the second quarter revenue and earnings indicate a 3.1% and 13.2% growth respectively.
This life science technology company is expected to post quarterly loss of $0.46 per share in its upcoming report, which represents a year-over-year change of +13.2%. Revenues are expected to be $151.42 million, up 3.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For 10x Genomics, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TXG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
10x Genomics is part of the Zacks Medical Info Systems industry. Azenta (AZTA - Free Report) , another stock in the same industry, closed the last trading session 4.5% higher at $52.82. AZTA has returned -10.1% in the past month.
Brooks' consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.08. Compared to the company's year-ago EPS, this represents a change of -38.5%. Brooks currently boasts a Zacks Rank of #3 (Hold).