Why 10X Genomics Shares Are Plummeting Afterhours - 10x Genomics (NASDAQ:TXG)

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.

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