William Blair lifts 10x Genomics Inc. [TXG] price estimate. Who else is bullish?


10x Genomics Inc. [NASDAQ: TXG] loss -17.07% or -7.39 points to close at $35.90 with a heavy trading volume of 9258711 shares. The company report on July 14, 2022 that 10x Genomics Names Jim Wilbur as Chief Commercial Officer.

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Following a comprehensive search process, 10x Genomics, Inc. (Nasdaq: TXG), today announced the hiring of Jim Wilbur, Ph.D., as Chief Commercial Officer, effective July 27. In this role, Wilbur will be responsible for driving commercial strategy and execution and leading the company’s sales, support and marketing functions.

A life sciences entrepreneur and seasoned global commercial executive, Wilbur brings nearly 30 years of experience building businesses, developing high-performance teams and scaling commercial organizations to drive growth and customer success.

It opened the trading session at $33.87, the shares rose to $36.15 and dropped to $33.30, the range by which the price of stock traded the whole day. The daily chart for TXG points out that the company has recorded -69.78% loss over the past six months. However, it is still -2.13% lower than its most recent low trading price.

If we look at the average trading volume of 1.64M shares, TXG reached to a volume of 9258711 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 $72.29 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 2.00. 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.

William Blair have made an estimate for 10x Genomics Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on July 15, 2022. The new note on the price target was released on July 15, 2022, representing the official price target for 10x Genomics Inc. stock. Previously, the target price had yet another raise to $205, while Cowen analysts kept a Outperform rating on TXG stock.

The Average True Range (ATR) for 10x Genomics Inc. is set at 3.93, with the Price to Sales ratio for TXG stock in the period of the last 12 months amounting to 9.83. The Price to Book ratio for the last quarter was 5.03, with the Price to Cash per share for the same quarter was set at 3.94.

Trading performance analysis for TXG stock

10x Genomics Inc. [TXG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -30.56. With this latest performance, TXG shares dropped by -3.10% in over the last four-week period, additionally sinking by -69.78% over the last 6 months – not to mention a drop of -78.89% 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 34.37, with the RSI for the last a single of trading hit 27.22, and the three-weeks RSI is set at 37.82 for 10x Genomics Inc. [TXG]. The present Moving Average for the last 50 days of trading for this stock 45.96, while it was recorded at 44.17 for the last single week of trading, and 96.03 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 6.70 and a Current Ratio set at 7.40.

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

There are presently around $3,015 million, or 99.70% of TXG stock, in the hands of institutional investors. The top three institutional holders of TXG stocks are: MORGAN STANLEY with ownership of 9,301,856, which is approximately 91.444% of the company’s market cap and around 1.80% of the total institutional ownership; BLACKROCK INC., holding 9,156,992 shares of the stock with an approximate value of $328.74 million in TXG stocks shares; and VANGUARD GROUP INC, currently with $277.6 million in TXG stock with ownership of nearly 2.363% 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 178 institutional holders increased their position in 10x Genomics Inc. [NASDAQ:TXG] by around 14,704,509 shares. Additionally, 173 investors decreased positions by around 11,147,410 shares, while 58 investors held positions by with 58,118,538 shares. The mentioned changes placed institutional holdings at 83,970,457 shares, according to the latest SEC report filing. TXG stock had 46 new institutional investments in for a total of 1,313,324 shares, while 100 institutional investors sold positions of 4,717,692 shares during the same period.