Stifel analyst Daniel Arias reiterated a Buy rating on 10X Genomics (NASDAQ: TXG).

The analyst commented, "The next leg of adoption for spatial biology approaches will no doubt be enabled by new platform offerings, with 10x Genomic's (TXG, $62.65, Buy) about-to-be-commercialized Atera instrument at the center of the conversation on market expansion. In addition to new hardware capabilities, however, software advances that allow for better annotation, integration, and visualization will also be needed. A recent piece in Nature Communications (open access) from a team at the University of Oxford details the introduction of MuSpAn - a bioinformatics package that "unifies over 100 methods for quantifying spatial relationships across biological scales". We see this as a good example of the types of tools that improve back-end workflows in order to help open up the market.."

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Shares of 10X Genomics closed at $62.65 yesterday.