In the last trading session, 1.34 million 10x Genomics Inc (NASDAQ:TXG) shares changed hands as the company’s beta touched 1.87. With the company’s per share price at $43.42 changed hands at $1.25 or 2.96% during last session, the market valuation stood at $5.13B. TXG’s last price was a discount, traded about -46.41% off its 52-week high of $63.57. The share price had its 52-week low at $31.28, which suggests the last value was 27.96% up since then. When we look at 10x Genomics Inc’s average trading volume, we note the 10-day average is 1.05 million shares, with the 3-month average coming to 984.81K.
Analysts gave the 10x Genomics Inc (TXG) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 1 out of 14 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 3 recommended TXG as a Hold, 8 felt it is a Buy and 1 rated the stock as Underweight. 10x Genomics Inc’s EPS for the current quarter is expected to be -$0.38.
10x Genomics Inc (NASDAQ:TXG) trade information
Instantly TXG was in green as seen at the end of in last trading. With action 19.55%, the performance over the past five days has been green. The jump to weekly highs of 44.10 on Monday, 11/20/23 added 2.96% to the stock’s daily price. The company’s shares are showing year-to-date upside of 19.15%, with the 5-day performance at 19.55% in the green. However, in the 30-day time frame, 10x Genomics Inc (NASDAQ:TXG) is 10.09% up. Looking at the short shares, we see there were 6.74 million shares sold at short interest cover period of 7.71 days.
The consensus price target for the stock as assigned by Wall Street analysts is $54.83, meaning bulls need an upside of 20.81% from its current market value. According to analyst projections, TXG’s forecast low is $30.00 with $70.00 as the target high. To hit the forecast high, the stock’s price needs a -61.22% plunge from its current level, while the stock would need to tank 30.91% for it to hit the projected low.
10x Genomics Inc (TXG) estimates and forecasts
Data shows that the 10x Genomics Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -23.96% over the past 6 months, a -38.36% in annual growth rate that is considerably lower than the industry average of 13.60%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for 10x Genomics Inc will fall -153.30%, while the growth in revenue is estimated to hit -4.50% for the next quarter. Year-over-year growth is forecast to reach 19.20% up from the last financial year.
Consensus estimates given by 10 financial analysts project the company’s revenue in the current quarter to hit an average of $180.95 million. 9 analysts are of the opinion that 10x Genomics Inc’s revenue for the quarter ending Mar 2024 will be $160.28 million. The company’s revenue for the corresponding quarters a year ago was $156.23 million and $128.82 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 15.80%. The estimates for the next quarter sales put growth at 24.40%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -49.26%. The 2023 estimates are for 10x Genomics Inc earnings to decrease by -44.49%.
10x Genomics Inc is expected to release its next quarterly earnings report between February 13 and February 19.
10x Genomics Inc (NASDAQ:TXG)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.46% of 10x Genomics Inc shares while 92.54% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 94.87%. There are 92.54% institutions holding the 10x Genomics Inc stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 8.27% of the shares, roughly 8.55 million TXG shares worth $477.35 million.
Baillie Gifford and Company holds the second largest percentage of outstanding shares, with 8.23% or 8.5 million shares worth $474.88 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 2.77 million shares estimated at $154.63 million under it, the former controlled 2.68% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.21% of the shares, roughly 2.28 million shares worth around $127.32 million.