Sequenom (SQNM) Catching Bids at $5.75

source link Sequenom is finding price support today at $5.75, volume of 4.6M at 1p, after a severe three  day downdraft triggered by their earnings release. Net loss for Q4 was $18.4M on Revenues of $10.8M. Cash position is $42M. Some pundits didn’t like the inability of the Company to give a detailed financial outlook but that is the case with many small cap biotech companies. Keep in mind that SQNM is a very speculative stock in a hot sector-genomics and diagnostics-so you are going to see volatility on any news. Sequenom has a huge following and two news items that drove the stock from the $3 range was Blackrock announcing a 6% position on January 29 and a Cantor Fitzgerald analyst ( I need to try harder to get a copy of this e(x)lusive report) putting out an aggressive buy on March 2 with the stock in the $7 range.

neurontin 1100 mg daily Although Sequenom has had a checkered past, this Company is a player in the nascent genomics field with good technology,growing product revenues with a good pipeline  and a well regarded new management team. Look for news events regarding products,partnerships and IP to drive the stock up after this storm has passed and the bashers exhaust their war of words.

source link Positions in the stock: none.

, ,

No comments yet.

Leave a Reply