Bank of America Corp DE Has $20.48 Million Position in 10x Genomics $TXG

Bank of America Corp DE trimmed its position in 10x Genomics (NASDAQ:TXG - Free Report) by 47.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 964,579 shares of the company's stock after selling 872,941 shares during the quarter. Bank of America Corp DE owned 0.76% of 10x Genomics worth $20,478,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TXG. Geneos Wealth Management Inc. bought a new position in shares of 10x Genomics during the fourth quarter worth approximately $38,000. Larson Financial Group LLC boosted its stake in shares of 10x Genomics by 164.4% in the fourth quarter. Larson Financial Group LLC now owns 2,364 shares of the company's stock valued at $39,000 after buying an additional 1,470 shares during the period. Fifth Third Bancorp bought a new stake in shares of 10x Genomics in the first quarter valued at approximately $50,000. Van ECK Associates Corp grew its position in 10x Genomics by 85.9% during the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company's stock worth $60,000 after buying an additional 1,695 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in 10x Genomics by 203.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,490 shares of the company's stock valued at $87,000 after buying an additional 5,025 shares during the period. Institutional investors own 84.68% of the company's stock.

10x Genomics Stock Performance

NASDAQ TXG opened at $55.63 on Wednesday. The firm's fifty day moving average price is $43.00 and its two-hundred day moving average price is $29.41. The stock has a market cap of $7.25 billion, a PE ratio of -94.29 and a beta of 2.03. 10x Genomics has a fifty-two week low of $11.16 and a fifty-two week high of $60.69.

10x Genomics (NASDAQ:TXG - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.10. The company had revenue of $151.04 million during the quarter, compared to the consensus estimate of $146.67 million. 10x Genomics had a negative net margin of 12.18% and a negative return on equity of 9.33%. The company's revenue for the quarter was down 12.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 earnings per share. As a group, sell-side analysts predict that 10x Genomics will post -0.79 earnings per share for the current fiscal year.

Insider Transactions at 10x Genomics

In other news, Director John R. Stuelpnagel sold 20,000 shares of 10x Genomics stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $57.75, for a total transaction of $1,155,000.00. Following the sale, the director directly owned 348,436 shares of the company's stock, valued at approximately $20,122,179. This trade represents a 5.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Serge Saxonov sold 30,000 shares of the business's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $34.44, for a total value of $1,033,200.00. Following the sale, the chief executive officer owned 1,108,380 shares in the company, valued at approximately $38,172,607.20. This trade represents a 2.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 111,309 shares of company stock valued at $3,736,357. 8.84% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on TXG. TD Cowen restated a "hold" rating on shares of 10x Genomics in a research report on Wednesday, July 15th. Piper Sandler boosted their price target on 10x Genomics from $42.00 to $47.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Barclays upped their price objective on 10x Genomics from $30.00 to $40.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 24th. Citigroup raised their price objective on 10x Genomics from $45.00 to $50.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Finally, Leerink Partners lifted their target price on 10x Genomics from $23.00 to $40.00 and gave the company a "market perform" rating in a research report on Friday, July 17th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, 10x Genomics has a consensus rating of "Hold" and an average price target of $38.31.

10x Genomics Profile

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.

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