10x Genomics Inc (NASDAQ: TXG) stock jumped 2.96% on Monday to $43.42 against a previous-day closing price of $42.17. With 1.34 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.98 million shares. During the session, the Health Information Services company that operates in wider Healthcare sector, reached to the highest price of $44.10 whereas the lowest price it dropped to was $42.00. The 52-week range on TXG shows that it touched its highest point at $63.57 and its lowest point at $31.28 during that stretch. It currently has a 1-year price target of $54.83. Beta for the stock currently stands at 1.87.
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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 19.55%, but this was up by 10.09% over a month. Three-month performance dropped to -6.18% while six-month performance fell -23.96%. The stock gained 15.63% in the past year, while it has gained 19.15% so far this year. A look at the trailing 12-month EPS for TXG yields -1.91 with Next year EPS estimates of -1.44. For the next quarter, that number is -0.37. This implies an EPS growth rate of -44.49% for this year and 31.77% for next year.
Float and Shares Shorts:
At present, 96.53 million TXG shares are outstanding with a float of 94.39 million shares on hand for trading. On Oct 30, 2023, short shares totaled 6.74 million, which was 5.70% higher than short shares on Sep 28, 2023. 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, President, Chief Scientific Officer & Director.
Institutional Ownership:
Through their ownership of 92.54% of TXG’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 55.20% of TXG, in contrast to 30.18% held by mutual funds. Shares owned by individuals account for 22.46%. As the largest shareholder in TXG with 11.02% of the stake, Fidelity Management & Research Co holds 11,393,655 shares worth 11,393,655. A second-largest stockholder of TXG, The Vanguard Group, Inc., holds 8,765,371 shares, controlling over 8.48% of the firm’s shares. Baillie Gifford & Co. is the third largest shareholder in TXG, holding 8,340,898 shares or 8.07% stake. With a 2.83% stake in TXG, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,924,654 shares are owned by the mutual fund manager. The ARK Innovation ETF, which owns about 2.38% of TXG stock, is the second-largest Mutual Fund holder. It holds 2,458,556 shares valued at 86.74 million. Vanguard Small Cap Index Fund holds 2.32% of the stake in TXG, owning 2,399,787 shares worth 84.66 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TXG since 0 analysts follow the stock currently. 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 $70.00 and a low target of $30.00, the average target price over the next 12 months is $54.83. Based on these targets, TXG could surge 61.22% to reach the target high and fall by -30.91% to reach the target low. Reaching the average price target will result in a growth of 26.28% from current levels.
Summary of Insider Activity:
Insiders traded TXG stock several times over the past three months with 0 Buys and 7 Sells. In these transactions, 0 shares were bought while 23,750 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 53 over the past year. The total number of shares bought during that period was 403,531 while 160,867 shares were sold.
