10x Genomics, Inc. Class A Common Stock (TXG)
10x Genomics, Inc. Class A (TXG) is a biotechnology company specializing in genomics and single-cell analysis solutions. It develops and commercializes advanced instruments and reagents that enable researchers to analyze biological systems at high resolution, facilitating breakthroughs in areas such as cancer, immunology, and genetics. The company's technologies are used in academic, clinical, and industrial research to accelerate understanding of complex biological processes.
Company News
The global Single-cell Analysis Market is projected to grow from USD 3.90 billion in 2024 to USD 12.29 billion by 2032, with a 13.61% CAGR, driven by increasing cancer research, precision medicine, and advanced genomics technologies.
Cathie Wood, the co-founder and CEO of Ark Invest, has been slowing the pace of her portfolio moves lately. However, she still made some notable purchases on Monday, increasing her existing positions in Amazon, GitLab, and 10x Genomics.
10x Genomics reported a Q2 2024 loss of $0.32 per share, beating the Zacks Consensus Estimate of a $0.47 loss. The company's revenue of $153.1 million also surpassed estimates. However, the stock has underperformed the market so far this year.
Cathie Wood's ARK ETFs made significant portfolio adjustments, selling Teladoc shares, increasing CrowdStrike holdings, and reducing Tesla positions.
Cathie Wood's Ark Invest reduced its stake in Tesla by $8 million, despite a recent bullish outlook on the company's potential in the autonomous taxi sector.
