10x Genomics, Inc. (TXG) Stock: Here’s What’s Happening

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10x Genomics, Inc. (TXG) is headed up in the market in today’s trading session. The company, focused on the biotechnology sector, is presently trading at $57.70 after gaining 5.37% so far in today’s session. As it relates to biotech companies, there are several factors that have the potential to lead to movement in the market. One of the most common is news. Here are the recent trending headlines associated with TXG:

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Oct-25-19 04:45PM 10x Genomics to Report Third Quarter 2019 Financial Results on November 7, 2019
Sep-19-19 07:39AM The Daily Biotech Pulse: China Biologics Receives Buyout Offer, Provention Bio Offering, Exagen IPO
Sep-16-19 04:10PM 10x Genomics Announces Closing of Initial Public Offering and Exercise in Full of the Underwriters Option to Purchase Additional Shares
Sep-12-19 07:00AM 10x Genomics Announces Pricing of Initial Public Offering
Sep-10-19 02:00PM 10X Genomics IPO: What You Need To Know

However, when making a decision to invest, investors should take a look at far more than news, this is especially the case in the speculative biotech sector. Here’s what’s happening in regard to 10x Genomics, Inc..

Trends That We’ve Seen From TXG

While a move toward the top in a single session, like the gain that we’re seeing from 10x Genomics, Inc. may make some investors excited, that by itself shouldn’t be the reason for a decision to, or not to, invest in a company. It’s always important to look at trends experienced by the stock for a period longer than a single trading day. As it relates to TXG, below are the movements that we have seen:

  • Past 5 Sessions – In the last week, TXG has seen a change in price amounting to -1.59%.
  • Monthly – The monthly returns from 10x Genomics, Inc. comes to 22.69%.
  • Quarterly – In the last quarter, the company has generated a return that works out to 0
  • Bi-Annually – Over the last six months, we have seen a performance that equates to 0 from the company.
  • Year To Date – Since the open of this year TXG has produced a ROI of 9.38%.
  • Annually – Finally, over the past year, investors have seen movement that works out to 0 from TXG. Over this period of time, the stock has traded at a high price of -8.95% and a low price of 27.91%.

Ratios To Watch

Digging into a few ratios associated with a company generally gives prospective investors an understanding of how risky and/or rewarding a stock pick may be. Below are some of the key ratios to consider when looking at TXG.

Short Ratio – The short ratio is a measure of short interest. As the short ratio heads up, it means that more investors believe that the stock is going to tumble. In general, biotech stocks tend to carry a higher short ratio. On the other hand, we also see a lot of short squeezes in the space. Nonetheless, as it relates to 10x Genomics, Inc., it’s short ratio is 0.00.

Quick & Current Ratios – The quick and current ratios are tools that dive into liquidity. Basically, they measure the company’s abilities to pay its debts when they mature with only current assets or quick assets. In the biotechnology industry, many companies are reliant on the continuation of support from investors, the current and quick ratios can look damning. Nonetheless, several better companies in the biotech industry do have strong current and quick ratios. As far as TXG, the quick and current ratios come to 2.20 and 2.50 respectively.  

Book To Share Value – The book to share value ratio compares the the share price to the book value of assets owned by the company. In this particular case, that ratio works out to -14.12.

Cash To Share Value – Finally, the cash to share value comparison compares the total amount of cash the company has on hand to the price of the company’s stock. Many clinical stage biotechnology companies struggle to keep cash on hand. So, when investing in the biotech industry, this is an important ratio to consider. In this case, the cash to share value ratio is 0.59.

Analyst Opinions Of 10x Genomics, Inc.

Although it’s never a smart idea to unknowingly follow the opinions of analysts, it is a smart idea to consider their opinions when validating your own thoughts before making an investment decision in the biotech industry. Here are the most recent moves that we have seen from analysts as it relates to TXG.

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Oct-07-19 Initiated JP Morgan Overweight $55
Oct-07-19 Initiated Cowen Outperform $55
Oct-07-19 Initiated BofA/Merrill Buy $62
Sep-24-19 Initiated Evercore ISI Outperform $70

Moves From Big Money Players

Humans that are into investing seem to be infatuated with the term “Smart money follows big money.” It makes sense. Big money became big money by making smart decisions in the market. So, by following the moves of big money institutions and insiders, we can get a glimpse of what market pros think about a stock. When it comes to big money interest in TXG, here’s what we’re seeing:

  • Institutions – As it stands now, institutions own 7.50% of TXG. However, it’s important to note that the ownership held by institutions has seen a move in the amount of 25.74% throughout the last 3 months.
  • Insider Holdings – When it comes to insiders, members of the management team and others close to TXG currently own 7.80% of 10x Genomics, Inc.. Insider ownership of the company has changed by 0 over the last 3 months.

Looking At Share Counts

Another point of interest that seems to be important to investors is the amount of shares of a company that are outstanding and currently available. At the moment, there are 95.35M shares of 10x Genomics, Inc. outstanding. Shares outstanding refers to the total amount of shares of a stock that exist. As far as the float goes, or the amount of shares that are actually available on the retail market, TXG has a float of 17.39M.

I also find it important to dig into the short float. After all, if a high percentage of the float available for trading is sold short, the overall opinion in the market is that the equity is headed for a deep dive. As far as TXG, the percentage of the float that is sold short is 0.00%. Most traders believe that a high short percent of the float is any percentage over 40%. Through my work, I have calculated that any short ratio over 26% is usually a a play that could prove to be very risky.

Financial Performance

What have ween seen from TXG in terms of financial results?Here’s what we’ve seen and what’s coming:

  • Analyst Expectations – At the moment, Wall Street analysts have expectations that the company will create earnings per diluted share coming to a total of -0.56, with -0.12 to be reported in the report for the current quarter. Although this isn’t associated with earnings, since we’re talking on the topic of analysts, the stock is currently rated a 1.70 on a scale from 1 to 5 where 1 is the poorest Wall Street analyst grade and 5 is the best possible rating.
  • 5-Year Sales – Over the past half decade, 10x Genomics, Inc. has generated a movement in sales volume that works out to be 0. Earnings per share in the past 5 years have generated movement in the amount of 0.
  • Q/Q – In terms of quarter over quarter earnings performance, or Q/Q data as it is often referred to as in today’s society, TXG has created a change in earnings that amounts to -83.70%. TXG has also moved the needle in terms of revenue that amounts to 76.00%.

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