Investing in 10x Genomics Inc (TXG) might be a great opportunity, but the stock is a bit undervalued

While 10x Genomics Inc has underperformed by -2.13%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, TXG fell by -10.75%, with highs and lows ranging from $63.57 to $33.79, whereas the simple moving average fell by -14.98% in the last 200 days.

On December 14, 2023, Guggenheim started tracking 10x Genomics Inc (NASDAQ: TXG) recommending Buy.

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Analysis of 10x Genomics Inc (TXG)

Further, the quarter-over-quarter increase in sales is 17.22%, showing a positive trend in the upcoming months.

10x Genomics Inc’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -29.37% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 4.60, 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.

For any stock, average volume can be an extremely valuable indicator of volatility, and TXG is registering an average volume of 1.19M. On a monthly basis, the volatility of the stock is set at 4.27%, whereas on a weekly basis, it is put at 4.98%, with a loss of -5.10% over the past seven days. Furthermore, long-term investors anticipate a median target price of $58.14, showing growth from the present price of $42.24, 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?

Besides checking the fundamentals, you should also know 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 19.99%. 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 76.06% 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. Fidelity Management & Research Co’s position in TXG has increased by 57.98% in the first quarter. The company now owns 11,393,655 shares of the stock, with a value of $637.59 million, following the purchase of 4,181,369 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in TXG during the first quarter, upping its stake by 4.20%. During the last quarter, the company dropped down 353,434 additional shares for a total stake of worth $490.51 million, bringing number of shares owned by the company to 8,765,371.

During the first quarter, Baillie Gifford & Co. subtracted a -163,349 position in TXG. BlackRock Fund Advisors purchased an additional 0.18 million shares in the last quarter, increasing its holdings by 4.06%, now holding 4.51 million shares worth $252.46 million. At the end of the first quarter, ARK Investment Management LLC increased its TXG holdings by 35.00% and now holds 4.04 million TXG shares valued at $226.15 million with the added 1.05 million shares during the period. TXG shares are owned by institutional investors to the tune of 76.06% at present.

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