Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>10x Genomics has moved deeper into proteomics through the acquisition of Proteintech Genomics, a division within Proteintech Group that develops high-plex protein solutions for single cell and spatial applications on 10x platforms.</li><li>The deal, announced on June 9, 2026, follows a period of active product expansion for 10x, including the launch of Atera, which management described as the most significant product introduction in the company’s history.</li><li>The timing is notable because 10x is trying to expand beyond transcriptomics into richer multiomic workflows that combine RNA, protein, spatial context, and potentially AI-ready biological datasets.</li></ul>

10x Genomics has moved deeper into proteomics through the acquisition of Proteintech Genomics, a division within Proteintech Group that develops high-plex protein solutions for single cell and spatial applications on 10x platforms.The deal, announced on June 9, 2026, follows a period of active product expansion for 10x, including the launch of Atera, which management described as the most significant product introduction in the company’s history.The timing is notable because 10x is trying to expand beyond transcriptomics into richer multiomic workflows that combine RNA, protein, spatial context, and potentially AI-ready biological datasets.

10x Genomics Buyout Of Proteintech Could Supercharge Atera!

<ul><li>10X Genomics reported its financial results for the third quarter of 2025, recording a total revenue of $149 million, which exceeded the guidance range but was slightly down by 2% year-over-year.</li><li>Despite a challenging macroeconomic environment, the company saw a sequential improvement of 2% in revenue.</li><li>The company's balance sheet reflects a healthy position, with $482 million in cash and equivalents, highlighting effective cash management and providing flexibility for future growth investments.</li></ul>

10X Genomics reported its financial results for the third quarter of 2025, recording a total revenue of $149 million, which exceeded the guidance range but was slightly down by 2% year-over-year.Despite a challenging macroeconomic environment, the company saw a sequential improvement of 2% in revenue.The company's balance sheet reflects a healthy position, with $482 million in cash and equivalents, highlighting effective cash management and providing flexibility for future growth investments.

10x Genomics: How Powerful Is Its Global Mix—Can EMEA Growth De-Risk U.S. Funding Headwinds?

CEO / Founder, Crea8

Kim-Hwa Lim

CEO / Founder

Make an Impact

Crea8

Crea8 blends AI-driven precision, big data scalability, and rigorous quantitative frameworks with seasoned human insight. By extracting actionable intelligence from vast global datasets, we eliminate emotional bias and deliver optimal risk-adjusted returns. Our hybrid approach uncovers hidden market efficiencies and ensures your capital is dynamically positioned across markets.

Cross Asset Strategy

<ul><li>The strategy seeks to invest in a subset of stocks owned by globally renowned fund managers.</li><li>The fund managers followed are: Berkshire Hathaway Inc (Warren Buffet, Greg Abel), Duquesne Family Office LLC (Stanley Druckenmiller)....</li><li>By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.</li></ul>

The strategy seeks to invest in a subset of stocks owned by globally renowned fund managers.The fund managers followed are: Berkshire Hathaway Inc (Warren Buffet, Greg Abel), Duquesne Family Office LLC (Stanley Druckenmiller)....By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.

Global Top Fund Managers Portfolio (18-Aug-2026)

<ul><li>The strategy seeks to invest in companies that provide life’s essential goods and services.</li><li>These companies support our societal well-being and are less likely to be subject to hype.</li><li>By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.</li></ul>

The strategy seeks to invest in companies that provide life’s essential goods and services.These companies support our societal well-being and are less likely to be subject to hype.By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.

Global Life Essential Portfolio (18-Aug-2026)

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We downgraded our near-term outlook on SPX and QQQ to neutral last week (11/19/25), after being bullish since 4/22/25, while we maintained our intermediate-term bullish outlook (as of 5/14/25).</li>
<li>Crucial support levels of 6480-6520 on SPX and $580-$583 on QQQ held last week, and we are back to being near-term bullish as long as these supports continue to hold</li>
<li>The latest pullback offers an attractive entry point into all the speculative growth areas that we were pounding the table on since May, WITH A STOP AT LAST WEEKS LOWS</li>
</ul>


We downgraded our near-term outlook on SPX and QQQ to neutral last week (11/19/25), after being bullish since 4/22/25, while we maintained our intermediate-term bullish outlook (as of 5/14/25).
Crucial support levels of 6480-6520 on SPX and $580-$583 on QQQ held last week, and we are back to being near-term bullish as long as these supports continue to hold
The latest pullback offers an attractive entry point into all the speculative growth areas that we were pounding the table on since May, WITH A STOP AT LAST WEEKS LOWS


Back to Near-Term Bullish on SPX and Nasdaq 100; Supports Held at SPX 6480-6520 and QQQ $580-583

United States

10X Genomics, Inc. operates as a life science and diagnostics company. The Company develops software for analyzing biological systems such as genetic and immune cells. 10X Genomics serves customers worldwide.

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10X Genomics (TXG US)

10x Genomics Buyout Of Proteintech Could Supercharge Atera!

10x Genomics has moved deeper into proteomics through the acquisition of Proteintech Genomics, a division within Proteintech Group that develops...

Baptista Research

10x Genomics: How Powerful Is Its Global Mix—Can EMEA Growth De-Risk U.S. Funding Headwinds?

10X Genomics reported its financial results for the third quarter of 2025, recording a total revenue of $149 million, which exceeded the guidance...

Baptista Research

Global Top Fund Managers Portfolio (18-Aug-2026)

The strategy seeks to invest in a subset of stocks owned by globally renowned fund managers. The fund managers followed are: Berkshire Hathaway...

Crea8

Global Life Essential Portfolio (18-Aug-2026)

The strategy seeks to invest in companies that provide life’s essential goods and services. These companies support our societal well-being and...

Crea8

Back to Near-Term Bullish on SPX and Nasdaq 100; Supports Held at SPX 6480-6520 and QQQ $580-583

Back to Near-Term Bullish on $SPX and Nasdaq 100 $NDX; Crucial Supports Held at 6480-6520 on SPX and $580-$583 on $QQQ, we are near-term bullish as...

Vermilion Research

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