On October 2, 10x Genomics, Inc. rose 5.55% in regular trading, trading at approximately $93.61 per share, with turnover of approximately $63.52 million.
On the news front, the rally was fueled by a convergence of positive catalysts. The company recently announced the first commercial shipments of Atera, its new spatial biology platform introduced in April. Atera combines whole-transcriptome analysis, subcellular resolution, single-cell sensitivity, and large-scale processing, and the company plans to use the platform to train artificial intelligence models of biology. The commercial launch marks a key milestone in the company's product cycle.
Meanwhile, Argus Research initiated coverage of the stock with a Buy rating and a $110 price target, significantly above the FactSet consensus target of $58.80. UBS also previously raised its price target substantially to $68 from $20 while maintaining a Neutral rating. These bullish analyst actions, layered on top of the Atera commercialization milestone, have continued to drive share price strength.
Additionally, the company recently partnered with Lunit to integrate AI-powered pathology into its oncology workflow, and its Q2 results beat consensus estimates on both revenue and EPS, with full-year revenue guidance raised to $610 million-$630 million.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments