10x Genomics Inc. (NASDAQ: TXG) Stock: Does It Have More Upside? – Marketing Sentinel
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10x Genomics Inc. (NASDAQ: TXG) Stock: Does It Have More Upside?

In the last trading session, 1.04 million shares of the 10x Genomics Inc. (NASDAQ:TXG) were traded. Most recently the company’s share price was $40.00, and it changed around $1.6 or 4.17% from the last close, which brings the market valuation of the company to $4.38B. TXG currently trades at a discount to its 52-week high of $208.99, offering almost -422.48% off that amount. The share price’s 52-week low was $35.15, which indicates that the current value has risen by an impressive 12.13% since then. We note from 10x Genomics Inc.’s average daily trading volume that its 10-day average is 1.34 million shares, with the 3-month average coming to 1.51 million.

10x Genomics Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.00. If we narrow it down even further, the data shows that 0 out of 9 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 2 recommended TXG as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. 10x Genomics Inc. is expected to report earnings per share of -$0.34 for the current quarter.

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10x Genomics Inc. (NASDAQ:TXG) trade information

Instantly TXG has showed a green trend with a performance of 4.17% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 41.21 on Tuesday, 06/21/22 increased the stock’s daily price by 2.94%. The company’s shares are currently down -73.15% year-to-date, but still up 8.25% over the last five days. On the other hand, 10x Genomics Inc. (NASDAQ:TXG) is -19.79% up in the 30-day period. We can see from the shorts that 5.44 million shares have been sold at a short interest cover period of 4.7 day(s).

The consensus price target as assigned by Wall Street analysts is $95.00, which translates to bulls needing to increase their stock price by 57.89% from its current value. Analyst projections state that TXG is forecast to be at a low of $80.00 and a high of $115.00. In order for the stock price to hit the forecast high, the stock would need to plunge -187.5% from its current level, while the stock would need to crash -100.0% from its current level to reach the projected low.

10x Genomics Inc. (TXG) estimates and forecasts

10x Genomics Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -72.12 percent over the past six months and at a -71.70% annual growth rate that is well below the industry average of -3.00%. Moreover, analysts have decided to roll up on their fiscal year 2022 revenue estimates. The rating firms predict that it will loss -240.00% in revenue this quarter, and will report a decrease of -26.70% in the next quarter. The year-over-year growth rate is expected to be 25.00%, up from the previous year.

Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $127.7 million in revenue for the current quarter. 6 analysts expect 10x Genomics Inc. to make $168.54 million in revenue for the quarter ending Sep 2022. Forecasts for the next quarter put sales growth at 37.40%.

TXG Dividends

10x Genomics Inc.’s next quarterly earnings report is expected to be released around February 15 and February 21.

10x Genomics Inc. (NASDAQ:TXG)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 2.44% of 10x Genomics Inc. shares, and 98.87% of them are in the hands of institutional investors. The stock currently has a share float of 101.35%. 10x Genomics Inc. stock is held by 518 institutions, with Blackrock Inc. being the largest institutional investor. By Mar 30, 2022, it held 9.75% of the shares, which is about 9.16 million shares worth $696.57 million.

Blackrock Inc., with 8.54% or 8.02 million shares worth $1.19 billion as of Dec 30, 2021, holds the second largest percentage of outstanding shares.

Blackrock Funds-Mid-Cap Growth Equity Portfolio and ARK ETF Tr-ARK Innovation ETF were the top two Mutual Funds as of Feb 27, 2022. The former held 2.68 million shares worth $218.65 million, making up 2.86% of all outstanding shares. On the other hand, ARK ETF Tr-ARK Innovation ETF held roughly 2.4 million shares worth around $195.82 million, which represents about 2.56% of the total shares outstanding.

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