Key Highlights

● 10x Genomics rose with Twist Bioscience and Tempus AI.

● No announcement from the company explained the gain.

● The buying began with AI drug-discovery names.

● The company makes single-cell and spatial biology tools.

10x Genomics (NASDAQ:TXG) rose as a group of life-science tools and data-driven biotech stocks rallied together. The shares gained solidly during intraday trading alongside Twist Bioscience and Tempus AI, with no company news found to explain the move.

The buying began with AI drug-discovery names such as Schrodinger, Absci and Recursion Pharmaceuticals, and the move spread to companies that supply the tools and data behind modern biology research.

What 10x Genomics Does

10x Genomics makes instruments, chips and reagents that let scientists study biology at the level of individual cells, while its spatial products show where those cells sit within a tissue sample. Those tools generate huge amounts of data, linking the company to the broader conversation about AI in biology.

Its customers include academic labs, research institutes and drug companies, and spending by those customers depends partly on research funding conditions, which have weighed on the tools sector at times.

A Narrow Overall Advance

The Federal Reserve left its benchmark rate range unchanged, with two officials dissenting in favor of a hike, and long-dated Treasury yields climbed, usually a headwind for growth companies whose profits lie far in the future.

Breadth was narrow overall, with gains concentrated in a limited set of stocks even as the main index advanced.