10x Genomics Inc [TXG] Revenue clocked in at $618.73 million, down -47.89% YTD: What’s Next?

10x Genomics Inc [NASDAQ: TXG] traded at a low on Wednesday, posting a -5.32 loss after which it closed the day’ session at $29.16.

The results of the trading session contributed to over 3009005 shares changing hands. Over the past one week, the price volatility of 10x Genomics Inc stands at 5.69% while the volatility over the past one month is 4.00%.

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The market cap for TXG stock reached $3.49 billion, with 105.04 million shares outstanding and 98.51 million shares in the current float. Compared to the average trading volume of 1.37M shares, TXG reached a trading volume of 3009005 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 $53.57 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 1.75. 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.

Guggenheim have made an estimate for 10x Genomics Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 14, 2023. While these analysts kept the previous recommendation, Wolfe Research raised their target price to Outperform. The new note on the price target was released on December 13, 2023, representing the official price target for 10x Genomics Inc stock. Previously, the target price had yet another raise from $36 to $54, while BofA Securities kept a Neutral rating on TXG stock.

The Average True Range (ATR) for 10x Genomics Inc is set at 1.70, with the Price to Sales ratio for TXG stock in the period of the last 12 months amounting to 5.64. The Price to Book ratio for the last quarter was 4.69, with the Price to Cash per share for the same quarter was set at 3.25.

How has TXG stock performed recently?

10x Genomics Inc [TXG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.42. With this latest performance, TXG shares dropped by -19.18% in over the last four-week period, additionally sinking by -25.19% over the last 6 months – not to mention a drop of -45.70% 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 23.38, with the RSI for the last a single of trading hit 19.06, and the three-weeks RSI is set at 27.27 for 10x Genomics Inc [TXG]. The present Moving Average for the last 50 days of trading for this stock 40.70, while it was recorded at 32.74 for the last single week of trading, and 45.77 for the last 200 days.

10x Genomics Inc [TXG]: Deeper insight into the fundamentals

10x Genomics Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.11 and a Current Ratio set at 4.69.

Insider trade positions for 10x Genomics Inc [TXG]

The top three institutional holders of TXG stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in TXG stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in TXG stock with ownership which is approximately 5.8386%.