Bank of America Corp DE Sells 281,259 Shares of 10x Genomics, Inc. (NASDAQ:TXG)

Bank of America Corp DE trimmed its position in 10x Genomics, Inc. (NASDAQ:TXG - Free Report) by 30.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 654,999 shares of the company's stock after selling 281,259 shares during the quarter. Bank of America Corp DE owned about 0.54% of 10x Genomics worth $9,406,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Barclays PLC lifted its position in shares of 10x Genomics by 11.7% during the 3rd quarter. Barclays PLC now owns 602,536 shares of the company's stock worth $13,605,000 after purchasing an additional 63,079 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of 10x Genomics during the fourth quarter worth approximately $237,000. SG Americas Securities LLC lifted its holdings in shares of 10x Genomics by 209.8% during the fourth quarter. SG Americas Securities LLC now owns 73,046 shares of the company's stock worth $1,049,000 after buying an additional 49,468 shares during the last quarter. Sound Income Strategies LLC boosted its position in shares of 10x Genomics by 65.2% in the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company's stock valued at $48,000 after acquiring an additional 1,330 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of 10x Genomics by 73.1% in the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company's stock worth $44,000 after acquiring an additional 1,299 shares during the last quarter. 84.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. cut their target price 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. Leerink Partnrs lowered shares of 10x Genomics from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 13th. Canaccord Genuity Group decreased their target price on 10x Genomics from $18.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Stephens reaffirmed an "overweight" rating and issued a $14.00 price target on shares of 10x Genomics in a report on Thursday, May 15th. Finally, The Goldman Sachs Group decreased their price objective on 10x Genomics from $7.50 to $6.50 and set a "sell" rating on the stock in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $15.81.

10x Genomics Stock Performance

Shares of NASDAQ:TXG traded up $0.42 on Tuesday, hitting $8.59. The stock had a trading volume of 2,653,754 shares, compared to its average volume of 2,390,875. The firm's 50 day moving average price is $8.54 and its 200-day moving average price is $11.97. 10x Genomics, Inc. has a twelve month low of $6.78 and a twelve month high of $24.76. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -5.65 and a beta of 1.94.

10x Genomics (NASDAQ:TXG - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.36) EPS for the quarter, beating analysts' consensus estimates of ($0.45) by $0.09. The firm 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 company's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.50) earnings per share. As a group, sell-side analysts predict that 10x Genomics, Inc. will post -1.43 EPS for the current year.

About 10x Genomics

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.