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10x Genomics Inc. (TXG) – Don’t Be So Quick to Call it Dead

456 institutions hold shares in 10x Genomics Inc. (TXG), with 2.4M shares held by insiders accounting for 2.21% while institutional investors hold 83.30% of the company’s shares. The shares outstanding are 107.43M, and float is at 72.01M with Short Float at 2.19%. Institutions hold 81.46% of the Float.

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The top institutional shareholder in the company is FMR, LLC with over 10.07 million shares valued at $1.43 billion. The investor’s holdings represent 11.70% of the TXG Shares outstanding. As of Dec 30, 2020, the second largest holder is Morgan Stanley with 6.71 million shares valued at $949.63 million to account for 7.79% of the shares outstanding. The other top investors are Vanguard Group, Inc. (The) which holds 6.19 million shares representing 7.19% and valued at over $876.18 million, while Blackrock Inc. holds 6.00% of the shares totaling 5.16 million with a market value of $731.08 million.

10x Genomics Inc. (NASDAQ: TXG) is 39.28% higher on its value in year-to-date trading and has touched a low of $72.04 and a high of $203.25 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The TXG stock was last observed hovering at around $198.70 in the last trading session, with the day’s loss setting it -1.48% off its average median price target of $207.50 for the next 12 months. It is also 17.82% off the consensus price target high of $240.00 offered by 9 analysts, but current levels are -12.7% lower than the price target low of $175.00 for the same period.

Currently trading at $197.22, the stock is 3.71% and 10.37% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.43 million and changing -0.74% at the moment leaves the stock 34.34% off its SMA200. TXG registered 158.62% gain for a year compared to 6-month gain of 39.63%. The firm has a 50-day simple moving average (SMA 50) of $171.70 and a 200-day simple moving average (SMA200) of $156.40.

The stock witnessed a 22.09% loss in the last 1 month and extending the period to 3 months gives it a 20.83%, and is 5.16% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.02% over the week and 5.20% over the month.

10x Genomics Inc. (TXG) has around 852 employees, a market worth around $21.21B and $298.80M in sales. Distance from 52-week low is 173.76% and -2.97% from its 52-week high. The company has generated returns on investments over the last 12 months (-73.60%).

10x Genomics Inc. (TXG) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for 10x Genomics Inc. (TXG) is a “Buy”. 9 analysts offering their recommendations for the stock have an average rating of 1.60, where 1 rate it as a Hold and 0 think it is a “Overweight”. 8 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

10x Genomics Inc. is expected to release its quarterly report on 08/17/2021 and quarterly earnings per share for the current quarter are estimated at -$0.27 with sales reaching $102.51M over the same period.The EPS is expected to shrink by -571.20% this year, but quarterly earnings will post 65.60% year-over-year.

10x Genomics Inc. (TXG) Insider Activity

A total of 286 insider transactions have happened at 10x Genomics Inc. (TXG) in the last six months, with sales accounting for 241 and purchases happening 45 times. The most recent transaction is an insider sale by Kosaraju Sridhar, the company’s Director. SEC filings show that Kosaraju Sridhar sold 1,500 shares of the company’s common stock on Apr 23 at a price of $193.08 per share for a total of $0.29 million. Following the sale, the insider now owns 15000.0 shares.

10x Genomics Inc. disclosed in a document filed with the SEC on Apr 16 that STUELPNAGEL JOHN R (Director) sold a total of 7,500 shares of the company’s common stock. The trade occurred on Apr 16 and was made at $192.61 per share for $1.44 million. Following the transaction, the insider now directly holds 0.43 million shares of the TXG stock.

Still, SEC filings show that on Apr 12, CRUTCHFIELD BRADFORD (Chief Commercial Officer) disposed off 17,000 shares at an average price of $185.89 for $3.16 million. The insider now directly holds 34,608 shares of 10x Genomics Inc. (TXG).

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