Bank of New York Mellon Corp raised its stake in shares of 10x Genomics, Inc. (NASDAQ:TXG – Get Rating) by 11.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 834,100 shares of the company's stock after buying an additional 87,322 shares during the period. Bank of New York Mellon Corp owned about 0.74% of 10x Genomics worth $63,450,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Covestor Ltd purchased a new position in shares of 10x Genomics during the 4th quarter valued at about $32,000. Koshinski Asset Management Inc. grew its position in shares of 10x Genomics by 46.4% during the 1st quarter. Koshinski Asset Management Inc. now owns 536 shares of the company's stock valued at $41,000 after acquiring an additional 170 shares during the period. Column Capital Advisors LLC grew its position in shares of 10x Genomics by 28.8% during the 1st quarter. Column Capital Advisors LLC now owns 1,182 shares of the company's stock valued at $90,000 after acquiring an additional 264 shares during the period. Pitcairn Co. acquired a new stake in shares of 10x Genomics during the 4th quarter valued at about $205,000. Finally, M&T Bank Corp grew its position in shares of 10x Genomics by 41.8% during the 1st quarter. M&T Bank Corp now owns 2,916 shares of the company's stock valued at $222,000 after acquiring an additional 860 shares during the period. Hedge funds and other institutional investors own 74.10% of the company's stock.

Wall Street Analysts Forecast Growth

TXG has been the topic of a number of analyst reports. Cowen raised their target price on 10x Genomics from $50.00 to $55.00 in a research report on Tuesday, August 9th. William Blair cut 10x Genomics from an "outperform" rating to a "market perform" rating in a research report on Friday, July 15th. Canaccord Genuity Group began coverage on 10x Genomics in a report on Monday, July 25th. They issued a "buy" rating on the stock. Canaccord Genuity Group began coverage on 10x Genomics in a report on Monday, July 25th. They issued a "buy" rating and a $55.00 price objective on the stock. Finally, The Goldman Sachs Group cut 10x Genomics from a "neutral" rating to a "sell" rating and lowered their price objective for the stock from $55.00 to $35.00 in a report on Thursday, August 18th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $49.25.

10x Genomics Price Performance

10x Genomics (NASDAQ:TXG – Get Rating) last released its earnings results on Monday, August 8th. The company reported ($0.57) earnings per share for the quarter, missing analysts' consensus estimates of ($0.40) by ($0.17). 10x Genomics had a negative return on equity of 17.77% and a negative net margin of 28.62%. The business had revenue of $114.61 million during the quarter, compared to analysts' expectations of $115.89 million. During the same period last year, the business earned ($0.10) earnings per share. The company's revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts anticipate that 10x Genomics, Inc. will post -1.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other 10x Genomics news, CFO Justin J. Mcanear sold 987 shares of the firm's stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $35.19, for a total value of $34,732.53. Following the transaction, the chief financial officer now directly owns 58,092 shares of the company's stock, valued at approximately $2,044,257.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Justin J. Mcanear sold 987 shares of 10x Genomics stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $35.19, for a total transaction of $34,732.53. Following the sale, the chief financial officer now owns 58,092 shares of the company's stock, valued at approximately $2,044,257.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Benjamin J. Hindson sold 1,292 shares of 10x Genomics stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $35.19, for a total transaction of $45,465.48. Following the sale, the insider now directly owns 186,246 shares in the company, valued at approximately $6,553,996.74. The disclosure for this sale can be found here. Insiders have sold 4,994 shares of company stock valued at $175,739 in the last ninety days. 11.08% of the stock is currently owned by corporate insiders.

10x Genomics Profile

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

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