10x Genomics Stock: Bull vs. Bear

Despite crushing the S&P 500 -- 180% to 63% -- since its September 2019 IPO, 10x Genomics' (NASDAQ: TXG) shares have only experienced 6% growth year to date. The company has rapidly become a cornerstone of biomedical research with its laboratory devices capable of profiling individual cells, but investors recently seem to have shrugged. Does the stock price just need a few quarters to catch up to its valuation? Or should investors be worried?

Patrick Bafuma: Every so often, there is a technological innovation that enables the next wave of scientific discovery. Illumina was able to reduce the cost of sequencing the human genome from $1 million in 2007 to under $1,000 by 2014 with its DNA sequencers. And now 10x Genomics has brought the ability to look inside a single cell and its spatial interactions like never before -- unlocking a new age in biological research.

Image source: Getty Images.

Source Fool.com