Leerink Partners has recently initiated 10X Genomics Inc (TXG) stock to Outperform rating, as announced on September 3, 2024, according to Finviz. Earlier, on July 22, 2024, Jefferies had raised the stock from a Hold to Buy, setting a price target of $24. JP Morgan also reduced Neutral rating with a price target of $20. Additionally, Deutsche Bank reduced Hold rating on July 10, 2024, with a target price of $25. Wolfe Research analysts, in their report published on June 27, 2024, also reduced Peer Perform rating for 10X Genomics Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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10X Genomics Inc (TXG) Stock Trading Recap
On Tuesday, 10X Genomics Inc (TXG) stock saw a decline, ending the day at $21.31 which represents a decrease of $-1.27 or -5.62% from the prior close of $22.58. The stock opened at $22.55 and touched a low of $21.27 during the day, reaching a high of $22.55. The volume of shares traded was 1.21 million falling short of the average volume of 1.80 million.
TXG Stock Performance and Moving Averages
In recent trading, 10X Genomics Inc (TXG) stock price has shown some volatility, fluctuating -7.23% over the last five trades and -8.74% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by -40.99%, and it has gained 12.93% in the previous three months. Currently, TXG is trading at -4.49%, -0.50%, and -32.55% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, TXG, a Healthcare sector stock, is trading -63.20% below its 52-week high but remains 39.46% above its 52-week low. The Average True Range (ATR) (14 days) of 1.27 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
10X Genomics Inc’s Profitability and Valuation Ratios
10X Genomics Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of -30.10% and a profit margin of -37.96%, with a gross margin of -40.99%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, 10X Genomics Inc’s market capitalization stands at $2.57 billion. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. Additionally, the Price-to-Sales Ratio is 4.06, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 3.55, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 17.33% of 10X Genomics Inc (TXG)’s shares, while financial institutions hold 81.23%.
Notable insider trades include Saxonov Serge, Chief Executive Officer at 10X Genomics Inc (TXG), who sold 6749 shares on Aug 22 ’24, at $22.53 each, totaling $0.15 million. On May 22 ’24, Saxonov Serge, Chief Executive Officer, sold 4877 shares for $24.3 each, amounting to $0.12 million. Additionally, on Mar 04 ’24, Saxonov Serge sold 4660 shares at $44 each, generating $0.21 million.
