Views of Wall Street’s Leading Experts on 10x Genomics Inc.

10x Genomics Inc. (NASDAQ: TXG) stock jumped 1.25% on Monday to $47.92 against a previous-day closing price of $47.33. With 1.51 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.36 million shares. During the session, the Health Information Services company that operates in wider Healthcare sector, reached to the highest price of $49.46 whereas the lowest price it dropped to was $47.03. The 52-week range on TXG shows that it touched its highest point at $100.00 and its lowest point at $23.81 during that stretch. It currently has a 1-year price target of $49.80. Beta for the stock currently stands at 1.70.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TXG was up-trending over the past week, with a rise of 10.87%, but this was up by 34.27% over a month. Three-month performance surged to 86.17% while six-month performance rose 36.49%. The stock lost -48.49% in the past year, while it has gained 31.50% so far this year. A look at the trailing 12-month EPS for TXG yields -1.48 with Next year EPS estimates of -1.18. For the next quarter, that number is -0.31. This implies an EPS growth rate of 90.20% for this year and 27.20% for next year.

Float and Shares Shorts:

At present, 114.11 million TXG shares are outstanding with a float of 90.75 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.92 million, which was 4.32% higher than short shares on Sep 14, 2022. In addition to Dr. Serge Saxonov Ph.D. as the firm’s Co-Founder, CEO & Director, Dr. Benjamin J. Hindson Ph.D. serves as its Co-Founder, Pres, Chief Scientific Officer & Director.

Institutional Ownership:

Through their ownership of 93.76% of TXG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 50.19% of TXG, in contrast to 32.90% held by mutual funds. Shares owned by individuals account for 20.01%. As the largest shareholder in TXG with 10.07% of the stake, Morgan Stanley Investment Managem holds 9,625,278 shares worth 9,625,278. A second-largest stockholder of TXG, Baillie Gifford & Co., holds 8,602,235 shares, controlling over 9.00% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in TXG, holding 8,149,638 shares or 8.53% stake. With a 3.18% stake in TXG, the ARK Innovation ETF is the largest stakeholder. A total of 3,040,327 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.88% of TXG stock, is the second-largest Mutual Fund holder. It holds 2,754,526 shares valued at 100.37 million. Morgan Stanley Instl. Fund-Growth holds 2.61% of the stake in TXG, owning 2,490,660 shares worth 90.76 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TXG since 11 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 1 suggest SELL ratings. Of the remaining analysts, 1 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 1 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TXG analysts setting a high price target of $65.00 and a low target of $25.00, the average target price over the next 12 months is $49.67. Based on these targets, TXG could surge 35.64% to reach the target high and fall by -47.83% to reach the target low. Reaching the average price target will result in a growth of 3.65% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TXG will report FY 2022 earnings on 02/14/2024. Analysts have provided yearly estimates in a range of -$1.53 being high and -$1.70 being low. For TXG, this leads to a yearly average estimate of -$1.62. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. 10x Genomics Inc. surprised analysts by $0.10 when it reported -$0.37 EPS against a consensus estimate of -$0.47. The surprise factor in the prior quarter was -$0.18. Based on analyst estimates, the high estimate for the next quarter is -$0.10 and the low estimate is -$0.39. The average estimate for the next quarter is thus -$0.29.

Summary of Insider Activity:

Insiders traded TXG stock several times over the past three months with 2 Buys and 9 Sells. In these transactions, 37,266 shares were bought while 8,403 shares were sold. The number of buy transactions has increased to 21 while that of sell transactions has risen to 25 over the past year. The total number of shares bought during that period was 365,368 while 50,348 shares were sold.

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