On September 9, 10x Genomics, Inc. rose 5.01% in regular trading, trading at $65.85 per share, with turnover of approximately $83.81 million. The rally was primarily driven by RBC Capital Markets initiating coverage with a Sector Perform rating and a $70 price target, significantly above the analyst consensus mean of $51.

RBC highlighted 10x Genomics, Inc. as a leader in high-plex spatial molecular profiling, commanding over 60% market share. The firm noted the spatial business remains in early-stage adoption, sustaining double-digit growth even ahead of the upcoming Atera product launch. However, RBC also flagged that single-cell represents a structural growth dampener, with double-digit price-per-reaction declines partially offset by volume growth. Additionally, a recently disclosed 13G/A filing revealed notable institutional position adjustments, further bolstering market confidence. The company also recently beat Q2 estimates, posting EPS of -$0.14 versus the -$0.24 consensus, and raised full-year revenue guidance to $610 million-$630 million.

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