#5 - 10x Genomics (NASDAQ:TXG)
The area of gene editing is expected to show exponential growth in the coming decades. 10x Genomics Inc. (NASDAQ: TXG) is a life sciences company that provides gene editing companies with the products and services they need for their work. It's a fascinating field with the potential for astonishing growth.
So why is TXG stock trading near its 52-week low? The reason would seem to be that this is still a relatively small company. With a market cap of just over $2 billion, it's still a small-cap stock in many investors' minds. And it's not profitable at a time when investors are staying away from unprofitable stocks.
Analysts aren't projecting profitability in the next 12 months, but the losses are narrowing as top-line revenue continues to increase year over year. In 2023, that revenue totaled approximately $620 million. However, the company believes the annual opportunity in the market could total $12 billion in years to come.
That opportunity is one reason Cathie Wood has shown interest in TXG stock. Although 10x Genomics takes up only 1.5% of Woods' Ark ETF, it holds 6.59 million shares, up 2.5 times the level in October 2023.
About 10x Genomics
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.
Read More - Current Price
- $22.68
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 8 Buy Ratings, 7 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $31.60 (39.3% Upside)
