10x Genomics Inc. [NASDAQ: TXG] jumped around 11.49 points on Friday, while shares priced at $125.00 at the close of the session, up 10.12%. The company report on September 11, 2020 that 10x Genomics Announces Pricing of Upsized Public Offering.
10x Genomics, Inc. (NASDAQ: TXG) today announced the pricing of an upsized underwritten public offering by the Company of its Class A common stock at a price to the public of $110.00 per share, before underwriting discounts and commissions. 10x Genomics is offering 4,000,000 shares of its Class A common stock, plus up to an additional 600,000 shares of its Class A common stock that the underwriters have the right to purchase at the public offering price, less the underwriting discounts and commissions. All of the shares are being offered by the Company. The offering is expected to close on September 15, 2020, subject to customary closing conditions.
The offering is being made through an underwriting group led by J.P. Morgan Securities LLC, BofA Securities and Cowen and Company, LLC. Stifel and William Blair are acting as co-managers for the offering.
10x Genomics Inc. stock is now 63.93% up from its year-to-date (YTD) trading value. TXG Stock saw the intraday high of $125.30 and lowest of $112.00 per share. The company’s 52-week high price is 115.90, which means current price is +156.25% above from all time high which was touched on 09/11/20.
Compared to the average trading volume of 744.85K shares, TXG reached a trading volume of 4889144 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 10x Genomics Inc. [TXG]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TXG shares is $112.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TXG stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Morgan Stanley have made an estimate for 10x Genomics Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on September 09, 2020. While these analysts kept the previous recommendation, Stifel raised their target price to Buy. The new note on the price target was released on July 10, 2020, representing the official price target for 10x Genomics Inc. stock. Previously, the target price had yet another raise to $96, while Guggenheim analysts kept a Buy rating on TXG stock.
The Average True Range (ATR) for 10x Genomics Inc. is set at 5.42, with the Price to Sales ratio for TXG stock in the period of the last 12 months amounting to 45.33. The Price to Book ratio for the last quarter was 31.65, with the Price to Cash per share for the same quarter was set at 3.73.
How has TXG stock performed recently?
10x Genomics Inc. [TXG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.99. With this latest performance, TXG shares gained by 28.19% in over the last four-week period, additionally plugging by 117.92% over the last 6 months – not to mention a rise of 136.97% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TXG stock in for the last two-week period is set at 75.62, with the RSI for the last a single of trading hit 78.89, and the three-weeks RSI is set at 72.63 for 10x Genomics Inc. [TXG]. The present Moving Average for the last 50 days of trading for this stock 100.82, while it was recorded at 113.22 for the last single week of trading, and 82.48 for the last 200 days.
10x Genomics Inc. [TXG]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and 10x Genomics Inc. [TXG] shares currently have an operating margin of -11.82 and a Gross Margin at +75.18. 10x Genomics Inc.’s Net Margin is presently recorded at -12.71.
Return on Total Capital for TXG is now -11.57, given the latest momentum, and Return on Invested Capital for the company is -12.79. Return on Equity for this stock declined to -31.24, with Return on Assets sitting at -8.56. When it comes to the capital structure of this company, 10x Genomics Inc. [TXG] has a Total Debt to Total Equity ratio set at 7.07. Additionally, TXG Total Debt to Total Capital is recorded at 6.61, with Total Debt to Total Assets ending up at 4.90. Long-Term Debt to Equity for the company is recorded at 4.72, with the Long-Term Debt to Total Capital now at 4.41.
Reflecting on the efficiency of the workforce at the company, 10x Genomics Inc. [TXG] managed to generate an average of -$53,512 per employee. Receivables Turnover for the company is 8.00 with a Total Asset Turnover recorded at a value of 0.67.10x Genomics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.50 and a Current Ratio set at 3.70.
Earnings analysis for 10x Genomics Inc. [TXG]
With the latest financial reports released by the company, 10x Genomics Inc. posted -0.33/share EPS, while the average EPS was predicted by analysts to be reported at -0.12/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -175.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TXG.
Insider trade positions for 10x Genomics Inc. [TXG]
There are presently around $7,896 million, or 85.90% of TXG stock, in the hands of institutional investors. The top three institutional holders of TXG stocks are: VENROCK MANAGEMENT VI, LLC with ownership of 9,344,551, which is approximately New of the company’s market cap and around 2.20% of the total institutional ownership; MORGAN STANLEY, holding 8,221,397 shares of the stock with an approximate value of $1.03 billion in TXG stocks shares; and FMR LLC, currently with $898.55 million in TXG stock with ownership of nearly 125.175% of the company’s market capitalization.
Positions in 10x Genomics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 118 institutional holders increased their position in 10x Genomics Inc. [NASDAQ:TXG] by around 30,400,003 shares. Additionally, 44 investors decreased positions by around 8,368,326 shares, while 13 investors held positions by with 24,399,738 shares. The mentioned changes placed institutional holdings at 63,168,067 shares, according to the latest SEC report filing. TXG stock had 71 new institutional investments in for a total of 15,475,945 shares, while 21 institutional investors sold positions of 944,722 shares during the same period.