- 10X Genomics Inc 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.
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