Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. 10x Genomics Inc. shares valued at $34,734 were sold by McAnear Justin J. on Aug 23. At $35.19 per share, McAnear Justin J. sold 987 shares. The insider’s holdings dropped to 58,092 shares worth approximately $1.76 million following the completion of this transaction.
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Also, Saxonov Serge sold 2,715 shares, netting a total of over 95,544 in proceeds. Following the sale of shares at $35.19 each, the insider now holds 966,102 shares.
Before that, Hindson Benjamin J. had sold 1,292 shares from its account. In a trade valued at $45,467, the insider traded 10x Genomics Inc. shares for $35.19 each. Upon closing the transaction, the insider’s holdings decreased to 1,292 shares, worth approximately $5.63 million.
As published in a research note from Goldman on August 18, 2022, 10x Genomics Inc. [TXG] has been rated down from a Neutral to a Sell and the price target has been revised to $35 from $55. This represents a 13.63% premium over Wednesday’s closing price. Analysts at Canaccord Genuity started covering the stock with ‘”a Buy”‘ outlook in a report released in late July. As of July 15, 2022, William Blair has decreased its “an Outperform” rating to a “Mkt perform” for TXG. Earlier on July 15, 2022, BofA Securities downgraded its rating. Their new recommendation was “an Underperform” for TXG stock which previously was a “a Neutral”.
Analyzing TXG’s Price Performance
On Wednesday, 10x Genomics Inc. [NASDAQ: TXG] plunged -5.47% to $30.23. The stock’s lowest price that day was $30.23, but it reached a high of $32.79 in the same session. During the last five days, there has been a drop of approximately -10.22%. Over the course of the year, 10x Genomics Inc. shares have dropped approximately -79.71%. Shares of the company reached a 52-week high of $150.00 on 01/03/22 and a 52-week low of $29.17 on 09/19/22. A 50-day SMA is recorded $37.73, while a 200-day SMA reached $67.98. Nevertheless, trading volume fell to 1.14 million shares from 1.54 million shares the previous day.
Support And Resistance Levels for 10x Genomics Inc. (TXG)
According to the 24-hour chart, there is a support level at 29.38, which, if violated, would cause prices to drop to 28.52. In the upper region, resistance lies at 31.94. The next price resistance is at 33.64. RSI (Relative Strength Index) is 37.28 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.48, which suggests the price will decrease in the coming days. Percent R is at 86.29%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is 10x Genomics Inc. subject to short interest?
Stocks of 10x Genomics Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.92 million shares to 5.97 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 6.89 million shares. A decline of -15.41% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.49 of the overall float, the days-to-cover ratio (short ratio) decline to 3.49.
Which companies own the most shares of 10x Genomics Inc. (TXG)?
According to Baillie Gifford & Co. filings, the company currently owns 8,378,971 shares, which is about 8.82% of the total TXG shares outstanding. The investor’s shares have appreciated by 1,023,207 from its previous 13-F filing of 7355764.0 shares. With the completion of the sale transaction, Morgan Stanley Investment Managem’s stake is now worth $259,290,150. The Vanguard Group, Inc. acquire a 1.08% interest valued at $254.15 million while Fidelity Management & Research Co purchased a 1,891,956 stake. A total of -120,162 shares of 10x Genomics Inc. were bought by BlackRock Fund Advisors during the quarter, and 211,948 were bought by ARK Investment Management LLC. In its current portfolio, Sands Capital Management LLC holds 3,526,878 shares valued at $116.35 million.
In terms of 10x Genomics Inc. share price expectations, FactSet research, analysts set an average price target of $55.63 in the next 12 months, up nearly 87.62% from the previous closing price of $31.98. Analysts anticipate 10x Genomics Inc. stock to reach $70.00 by 2022, with the lowest price target being $35.00. In spite of this, 10 analysts ranked 10x Genomics Inc. stock as an Overweight at the end of 2022. On October 15, 2021, Cowen assigned a price target of “an Outperform” to the stock and resumed coverage with a $205.