10x Genomics, Inc. (NASDAQ:TXG) Shares Sold by Bank of America Corp DE

Bank of America Corp DE lowered its position in 10x Genomics, Inc. (NASDAQ:TXG - Free Report) by 30.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 654,999 shares of the company's stock after selling 281,259 shares during the period. Bank of America Corp DE owned about 0.54% of 10x Genomics worth $9,406,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. FMR LLC raised its position in shares of 10x Genomics by 0.6% during the 4th quarter. FMR LLC now owns 13,454,434 shares of the company's stock worth $193,206,000 after purchasing an additional 86,455 shares during the last quarter. ARK Investment Management LLC raised its holdings in 10x Genomics by 11.1% in the 4th quarter. ARK Investment Management LLC now owns 11,944,057 shares of the company's stock valued at $171,517,000 after acquiring an additional 1,193,712 shares during the last quarter. RA Capital Management L.P. acquired a new stake in 10x Genomics in the 4th quarter valued at about $47,092,000. Barclays PLC raised its holdings in 10x Genomics by 31.3% in the 4th quarter. Barclays PLC now owns 790,957 shares of the company's stock valued at $11,357,000 after acquiring an additional 188,421 shares during the last quarter. Finally, Algert Global LLC raised its holdings in 10x Genomics by 78.1% in the 4th quarter. Algert Global LLC now owns 660,620 shares of the company's stock valued at $9,487,000 after acquiring an additional 289,662 shares during the last quarter. Institutional investors and hedge funds own 84.68% of the company's stock.

Insiders Place Their Bets

In other news, insider Benjamin J. Hindson sold 7,485 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total value of $62,125.50. Following the sale, the insider now directly owns 448,374 shares in the company, valued at approximately $3,721,504.20. This trade represents a 1.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Adam Taich sold 4,044 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $8.30, for a total transaction of $33,565.20. Following the completion of the sale, the chief financial officer now owns 331,588 shares in the company, valued at $2,752,180.40. The trade was a 1.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,872 shares of company stock worth $173,238 in the last ninety days. 9.39% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on TXG shares. Leerink Partnrs downgraded shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 13th. Wall Street Zen raised shares of 10x Genomics from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Barclays dropped their price target on shares of 10x Genomics from $15.00 to $12.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. dropped their price target on shares of 10x Genomics from $12.00 to $9.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Finally, Stephens reissued an "overweight" rating and issued a $14.00 price target on shares of 10x Genomics in a research note on Thursday, May 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, 10x Genomics currently has a consensus rating of "Hold" and an average price target of $15.81.

10x Genomics Price Performance

Shares of NASDAQ:TXG traded up $0.48 during mid-day trading on Thursday, reaching $9.34. 4,306,662 shares of the company were exchanged, compared to its average volume of 2,408,769. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of -6.14 and a beta of 1.94. The firm's 50-day simple moving average is $8.47 and its 200 day simple moving average is $11.88. 10x Genomics, Inc. has a 1 year low of $6.78 and a 1 year high of $24.76.

10x Genomics (NASDAQ:TXG - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.45) by $0.09. The company had revenue of $154.88 million for the quarter, compared to analyst estimates of $131.91 million. 10x Genomics had a negative net margin of 29.90% and a negative return on equity of 25.40%. The firm's quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.50) EPS. On average, research analysts forecast that 10x Genomics, Inc. will post -1.43 earnings per share for the current fiscal year.

10x Genomics Profile

10x Genomics, Inc, a life science technology company, develops and sells instruments, consumables, and software for analyzing biological systems in the America, Europe, the Middle East, Africa, China, and the Asia Pacific. The company provides chromium, chromium connect, and chromium controller instruments, microfluidic chips, slides, reagents, and other consumables products.