TXG Continues Hitting New Highs

I noticed 10x Genomics (TXG) is on the chart for the sixth time in the row. In September, they kept their “Buy” rating from B of A securities and they just purchased two different research companies (along with their patents). Volume is about 25% higher than average and while the price had been up and down on my daily charts, it has finally hit a steady stride upward. September 15th JP Morgan rated the stock “Overweight”, September 9th Morgan Stanley initiated them at “Overweight” as well.

While I don’t always believe any one company’s rating making or breaking an entry, I do take notice when a price is steadily rising along with a string of analysts rating the company well. Another noteworthy aspect is that 10x Genomics has made two recent acquisitions. As we’re seeing right now with AMD making a move to purchase Xilinx (XLNX) typically the company doing the acquiring will show a share price drop in the short term, but then it should rise to meet the new value of the larger company. TXG is certainly showing what a stock can do post acquisition and I’m eager to see how high it can go!

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