Cowen slashes price target on 10x Genomics Inc. [TXG] – find out why.

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10x Genomics Inc. [NASDAQ: TXG] loss -3.96% or -2.08 points to close at $50.41 with a heavy trading volume of 3641117 shares. The company report on May 4, 2022 that 10x Genomics Reports First Quarter 2022 Financial Results.

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Q1 2022 revenue growth of 8% over prior year.

10x Genomics, Inc. (Nasdaq: TXG) today reported financial results for the first quarter ended March 31, 2022.

It opened the trading session at $53.38, the shares rose to $54.49 and dropped to $47.24, the range by which the price of stock traded the whole day. The daily chart for TXG points out that the company has recorded -69.29% loss over the past six months. However, it is still -9.47% lower than its most recent low trading price.

If we look at the average trading volume of 1.28M shares, TXG reached to a volume of 3641117 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $111.43 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 1.90. 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.

Cowen have made an estimate for 10x Genomics Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 15, 2021. The new note on the price target was released on September 14, 2021, representing the official price target for 10x Genomics Inc. stock.

The Average True Range (ATR) for 10x Genomics Inc. is set at 4.96, with the Price to Sales ratio for TXG stock in the period of the last 12 months amounting to 12.14. The Price to Book ratio for the last quarter was 6.90, with the Price to Cash per share for the same quarter was set at 4.97.

Trading performance analysis for TXG stock

10x Genomics Inc. [TXG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.84. With this latest performance, TXG shares dropped by -34.00% in over the last four-week period, additionally sinking by -69.29% over the last 6 months – not to mention a drop of -65.10% 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 33.68, with the RSI for the last a single of trading hit 32.68, and the three-weeks RSI is set at 35.16 for 10x Genomics Inc. [TXG]. The present Moving Average for the last 50 days of trading for this stock 66.44, while it was recorded at 50.43 for the last single week of trading, and 125.78 for the last 200 days.

10x Genomics Inc. [TXG]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and 10x Genomics Inc. [TXG] shares currently have an operating margin of -10.79 and a Gross Margin at +84.89. 10x Genomics Inc.’s Net Margin is presently recorded at -11.87.

Return on Equity for this stock declined to -7.48, with Return on Assets sitting at -5.98.

10x Genomics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.20 and a Current Ratio set at 6.80.

An analysis of insider ownership at 10x Genomics Inc. [TXG]

There are presently around $4,284 million, or 97.10% of TXG stock, in the hands of institutional investors. The top three institutional holders of TXG stocks are: BLACKROCK INC. with ownership of 8,018,634, which is approximately -4.022% of the company’s market cap and around 1.80% of the total institutional ownership; VANGUARD GROUP INC, holding 7,554,042 shares of the stock with an approximate value of $396.51 million in TXG stocks shares; and BAILLIE GIFFORD & CO, currently with $386.1 million in TXG stock with ownership of nearly 6.94% of the company’s market capitalization.

Positions in 10x Genomics Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 186 institutional holders increased their position in 10x Genomics Inc. [NASDAQ:TXG] by around 9,039,401 shares. Additionally, 168 investors decreased positions by around 7,226,234 shares, while 60 investors held positions by with 65,353,803 shares. The mentioned changes placed institutional holdings at 81,619,438 shares, according to the latest SEC report filing. TXG stock had 63 new institutional investments in for a total of 4,755,475 shares, while 65 institutional investors sold positions of 527,045 shares during the same period.