: 10x Genomics stock falls as revenue forecast disappoints
Shares of 10x Genomics Inc. TXG fell in the extended session Thursday after the biotech company said it expects second-quarter revenue to come in below Wall Street expectations. 10x Genomics shares dropped 15% after hours, following a 7.7% drop in the regular session to close at $43.29. The company said it expects second-quarter revenue of $114.5 million, a decline of 1% from last year’s $115.8 million. Analysts surveyed by FactSet had estimated revenue of $127.7 million. Back in May, the company reaffirmed its full-year revenue forecast of $600 million to $630 million, while the Street expects $610.9 million.
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