Bank of New York Mellon Corp Reduces Stock Holdings in 10x Genomics, Inc. (NASDAQ:TXG)

Bank of New York Mellon Corp lessened its stake in shares of 10x Genomics, Inc. (NASDAQ:TXG) by 13.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 290,031 shares of the company’s stock after selling 45,337 shares during the quarter. Bank of New York Mellon Corp owned about 0.24% of 10x Genomics worth $4,165,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of TXG. Blue Trust Inc. increased its position in shares of 10x Genomics by 73.1% during the fourth quarter. Blue Trust Inc. now owns 3,075 shares of the company’s stock worth $44,000 after purchasing an additional 1,299 shares in the last quarter. Sound Income Strategies LLC increased its position in 10x Genomics by 65.2% during the fourth quarter. Sound Income Strategies LLC now owns 3,370 shares of the company’s stock worth $48,000 after buying an additional 1,330 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in 10x Genomics during the fourth quarter worth approximately $52,000. First Horizon Advisors Inc. lifted its stake in 10x Genomics by 53.3% in the third quarter. First Horizon Advisors Inc. now owns 2,910 shares of the company’s stock valued at $66,000 after buying an additional 1,012 shares during the last quarter. Finally, KBC Group NV boosted its holdings in shares of 10x Genomics by 38.8% in the third quarter. KBC Group NV now owns 3,225 shares of the company’s stock valued at $73,000 after acquiring an additional 902 shares during the period. Institutional investors and hedge funds own 84.68% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on TXG shares. Citigroup lowered their price objective on shares of 10x Genomics from $20.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of 10x Genomics in a research note on Friday, March 7th. Leerink Partners cut 10x Genomics from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $25.00 to $12.00 in a research report on Thursday, February 13th. Barclays reduced their price objective on 10x Genomics from $19.00 to $18.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, Canaccord Genuity Group lowered their target price on 10x Genomics from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, 10x Genomics currently has a consensus rating of “Hold” and an average price target of $20.21.

Insider Transactions at 10x Genomics

In other news, insider Benjamin J. Hindson sold 4,573 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $11.07, for a total value of $50,623.11. Following the completion of the sale, the insider now owns 335,324 shares of the company’s stock, valued at $3,712,036.68. This represents a 1.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Serge Saxonov sold 5,092 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $11.07, for a total value of $56,368.44. Following the completion of the sale, the chief executive officer now directly owns 879,482 shares of the company’s stock, valued at $9,735,865.74. The trade was a 0.58 % decrease in their position. The disclosure for this sale can be found here. Insiders own 10.03% of the company’s stock.

10x Genomics Stock Down 2.3 %

TXG opened at $10.51 on Wednesday. The business’s fifty day simple moving average is $13.01 and its 200 day simple moving average is $15.75. 10x Genomics, Inc. has a 52 week low of $9.27 and a 52 week high of $39.30. The firm has a market cap of $1.29 billion, a P/E ratio of -6.91 and a beta of 1.93.

10x Genomics (NASDAQ:TXG) last posted its quarterly earnings data on Wednesday, February 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.32) by ($0.08). 10x Genomics had a negative return on equity of 25.40% and a negative net margin of 29.90%. As a group, equities analysts expect that 10x Genomics, Inc. will post -1.43 EPS 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.