Morgan Stanley Investment Managem has recently announced that it has increased stake in 10x Genomics Inc. (NASDAQ:TXG) by 2.10%. After grabbing 9.4 million shares, the institutional investor is now in possession of 0.19 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 9.68% having worth around $493.02 million. Moreover, Baillie Gifford & Co. increased its share by 0.15 million to have a control over 8.75 million shares. And The Vanguard Group, Inc. raised its holdings to 0.36 million shares by acquiring 8.66 million shares or 8.91% of the stake.
10x Genomics Inc. (TXG) concluded trading on 05/25/23 at a closing price of $51.24, with 1.13 million shares of worth about $57.74 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 45.73% during that period and on Thursday the price saw a loss of about -2.86%. Currently the company’s common shares owned by public are about 115.62M shares, out of which, 90.75M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 14 analysts are covering the TXG stock and their offered price forecasts bring an average price target of $58.50. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $68.00 and could fall to a lowest price of $25.00. The stock’s current price level is 10.62% above of average price target set by the analysts, while a rise to estimated low would result in loss of -104.96% for the stock. However, touching the estimated high of $68.00 would mean a gain of 24.65% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 39 times over the past 12 months. They bought 334,770 shares in 17 of the transactions. In 22 selling transactions, insiders dumped 24,236 shares.
Vanguard Total Stock Market ETF, ARK Innovation ETF, and Vanguard Small Cap Index Fund are the top 3 mutual funds which are holding stakes in 10x Genomics Inc. Vanguard Total Stock Market ETF is currently holding 2.88 million shares of worth totaling $150.83 million. The company recently came buying 1111.0 shares which brought its stake up to 2.96% of the company’s outstanding shares. ARK Innovation ETF bought 3996.0 shares, after which its hold over company’s outstanding shares expand to 2.56%, leaving 2.48 million shares with the mutual fund that have a worth of about $130.25 million. Vanguard Small Cap Index Fund, after selling 2.41 million shares, have now control over 2.49% of the stake in the company. It holds 588.0 shares of worth $126.58 million.
10x Genomics Inc. (NASDAQ: TXG) started trading at $53.71, above $0.96 from concluding price of the previous day. Stock saw a price change of -6.85% in past 5 days and over the past one month there was a price change of 0.37%. Year-to-date (YTD), TXG shares are showing a performance of 40.61% which increased to 12.07% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $23.81 but also hit the highest price of $58.30 during that period. The average intraday trading volume for 10x Genomics Inc. shares is 876.00K. The stock is currently trading -4.25% below its 20-day simple moving average (SMA20), while that difference is down -2.38% for SMA50 and it goes to 23.83% higher than SMA200.
Morgan Stanley Investment Managem acquired 9.4 million shares of 10x Genomics Inc. having value of about $493.02 million. Data submitted at the U.S SEC by Morgan Stanley Investment Managem revealed that the firm now holds 0.19 million shares in the company valued at close to $9900541.56, or have control over 2.10% stake in the company. 10x Genomics Inc. (NASDAQ: TXG) currently have 115.62M outstanding shares and institutions hold larger chunk of about 90.30% of that. Holding of mutual funds in the company is about 37.69% while other institutional holders and individual stake holders have control over 51.33% and 23.95% of the stake respectively.
The stock has a current market capitalization of $5.92B and its 3Y-monthly beta is at 1.74. It has posted earnings per share of -$1.52 in the same period. It has Quick Ratio of 4.60 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for TXG, volatility over the week remained 5.30% while standing at 4.59% over the month.
Analysts are in expectations that 10x Genomics Inc. (TXG) stock would likely to be making an EPS of -$0.4 in the current quarter, while forecast for next quarter EPS is -$0.32 and it is -$0.83 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.52 which is -$0.26 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.57 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -176.30% while it is estimated to increase by 41.50% in next year.
Analysts at 14 brokerage firms have issued recommendations for the 10x Genomics Inc. (TXG)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.20. Out of those 14 Wall Street analysts, 8 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
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