While 10x Genomics Inc has underperformed by -0.84%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, TXG fell by -50.18%, with highs and lows ranging from $63.57 to $24.60, whereas the simple moving average fell by -38.06% in the last 200 days.
On May 01, 2024, TD Cowen Downgraded 10x Genomics Inc (NASDAQ: TXG) to Hold. A report published by Guggenheim on December 14, 2023, Initiated its previous ‘Buy’ rating for TXG. Wolfe Research also rated TXG shares as ‘Outperform’, setting a target price of $55 on the company’s shares in an initiating report dated December 13, 2023. BofA Securities December 12, 2023d the rating to Neutral on December 12, 2023, and set its price target from $36 to $54. JP Morgan initiated its ‘Overweight’ rating for TXG, as published in its report on July 05, 2023. Barclays’s report from May 10, 2023 suggests a price prediction of $65 for TXG shares, giving the stock a ‘Overweight’ rating. Stephens also rated the stock as ‘Overweight’.
Analysis of 10x Genomics Inc (TXG)
Further, the quarter-over-quarter increase in sales is 5.01%, 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 -34.75% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 4.45, 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 1.59M can be a very valuable indicator of volatility for TXG stock. On a monthly basis, the volatility of the stock is set at 5.39%, whereas on a weekly basis, it is put at 7.18%, with a loss of -4.05% over the past seven days. Furthermore, long-term investors anticipate a median target price of $40.69, showing growth from the present price of $27.25, 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 17.69%. 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 81.36% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
TXG shares are owned by institutional investors to the tune of 81.36% at present.
