10x Genomics Inc. (NASDAQ:TXG) marked $46.83 per share on Tuesday, up from a previous closing price of $45.37. While 10x Genomics Inc. has overperformed by 3.22%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, TXG fell by -46.42%, with highs and lows ranging from $100.00 to $23.81, whereas the simple moving average jumped by 18.10% in the last 200 days.
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On December 14, 2022, Deutsche Bank started tracking 10x Genomics Inc. (NASDAQ: TXG) recommending Buy. A report published by Goldman on August 18, 2022, Downgraded its rating to ‘Sell’ for TXG. Canaccord Genuity also rated TXG shares as ‘Buy’, setting a target price of $55 on the company’s shares in an initiating report dated July 25, 2022. BofA Securities July 15, 2022d its ‘Neutral’ rating to ‘Underperform’ for TXG, as published in its report on July 15, 2022. Cowen’s report from October 15, 2021 suggests a price prediction of $205 for TXG shares, giving the stock a ‘Outperform’ rating. BofA Securities also rated the stock as ‘Neutral’.
Analysis of 10x Genomics Inc. (TXG)
Further, the quarter-over-quarter increase in sales is 4.60%, showing a positive trend in the upcoming months.
In order to gain a clear picture of 10x Genomics Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -21.00% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 4.30, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 1.34M can be a very valuable indicator of volatility for TXG stock. On a monthly basis, the volatility of the stock is set at 6.32%, whereas on a weekly basis, it is put at 5.01%, with a gain of 2.86% over the past seven days. Furthermore, long-term investors anticipate a median target price of $49.80, showing growth from the present price of $46.83, which can serve as yet another indication of whether TXG is worth investing in or should be passed over.
How Do You Analyze 10x Genomics Inc. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.50%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 90.30% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in TXG shares?
The recent increase in stakes in TXG appears to be a result of several institutional investors and hedge funds increasing their positions. Morgan Stanley Investment Managem’s position in TXG has increased by 22.46% in the first quarter. The company now owns 9,625,278 shares of the stock, with a value of $350.75 million, following the purchase of 1,765,619 additional shares during the last quarter. Baillie Gifford & Co. made another increased to its shares in TXG during the first quarter, upping its stake by 1.88%. During the last quarter, the company picked up 158,847 additional shares for a total stake of worth $313.47 million, bringing number of shares owned by the company to 8,602,235.
During the first quarter, The Vanguard Group, Inc. added a 445,699 position in TXG. ARK Investment Management LLC sold an additional -0.26 million shares in the last quarter, decreasing its holdings by -5.69%, now holding 4.32 million shares worth $157.3 million. At the end of the first quarter, BlackRock Fund Advisors decreased its TXG holdings by -3.67% and now holds 4.01 million TXG shares valued at $146.12 million with the lessened -0.15 million shares during the period. TXG shares are owned by institutional investors to the tune of 90.30% at present.
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