eastunder
4 years ago
GNMK Stock: Why GenMark Diagnostics Is Soaring Today
GenMark just received emergency approval from the FDA for its coronavirus test panel
By Sarah Smith, InvestorPlace Web Content Producer Oct 9, 2020, 9:00 am EDT
https://investorplace.com/2020/10/gnmk-stock-why-genmark-diagnostics-is-soaring-today/
GenMark Diagnostics (NASDAQ:GNMK) is looking to leverage new interest — and new necessity — when it comes to the novel coronavirus. News of its innovative test kit, and emergency-use authorization, is sending GNMK stock higher Friday.
So what exactly is happening? Well, GenMark Diagnostics is a provider of molecular diagnostics. It wants to make testing for all sorts of diseases and bacteria easier, better and more reliant on powerful technology. In fact, the company started back in 1993 with a bold idea for an electronic sensor that could detect DNA.
Clearly, GenMark knows a thing or two about diagnostics. With that in mind, it set out to develop the best test kit for the novel coronavirus. Importantly, it wanted to create something that offered more insight. If a patient has respiratory symptoms but not the coronavirus, GenMark wants to figure out what is causing those symptoms.
That idea is exactly what has GNMK stock popping on Friday. The company took its bold plan, and developed the ePlex Respiratory Pathogen Panel 2 (RP2). Investors should note that not only does this panel test for the coronavirus, but it also provides results for more than 20 different viruses and bacteria. Now, you can know in just two hours whether you have the coronavirus or something less sinister, like the flu or a common cold.
That makes a lot of sense, and thankfully, the U.S. Food and Drug Administration agrees. The regulatory agency just granted the ePlex panel an EUA.
GNMK Stock Pops on New Coronavirus Test
Perhaps one of the best way for investors to understand the importance of the ePlex panel is to examine a real-life example. GenMark tells a story of a nurse, an employee at a hospital that has been testing the panel. When she developed a fever at work, she was immediately able to use the panel. Instead of the coronavirus, she had a common cold.
This matters for two reasons. First, it set a clear path for when she could return to work. Second, it provided more certainty. Simply testing negative for the coronavirus may not give peace of mind. But with the ePlex panel, you know exactly what is causing your symptoms.
As a second — or third — wave of the coronavirus continues to hit the world, and as flu season ramps up, this diagnostic panel will be more important than ever. Consider the wide variety of viruses and bacteria it tests for, and also its two-hour turnaround time. Like with the nurse, the ePlex panel could very well be what investors are waiting for. In other words, it could help bring about a return to normal.
Nothing is a sure thing in the coronavirus drug and vaccine race, but GNMK stock is worthy of staying on your radar.
On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Sarah Smith is a Web Content Producer for InvestorPlace.com.
whytestocks
4 years ago
BREAKING NEWS: $GNMK Milestone Pharmaceuticals Strengthens Board of Directors with Two New Appointments
Milestone Pharmaceuticals Strengthens Board of Directors with Two New Appointments Canada NewsWire MONTREAL and CHARLOTTE, N.C., Sept. 22, 2020 MONTREAL and CHARLOTTE, N.C., Sept. 22, 2020 /CNW/ -- Milestone Pharmaceuticals Inc. (Nasdaq: MIST)...
In case you are interested GNMK - Milestone Pharmaceuticals Strengthens Board of Directors with Two New Appointments
mick
5 years ago
GNMK The short sale volume percent (not short interest) for stock ticker GNMK is 45% on Apr 08, 2020. The short sale volume is 2,560,620. The total volume is 5,664,938. The short sale volume percent is down -6% compare to Apr 07, 2020.
mick
5 years ago
GenMark Diagnostics, Inc (NASDAQ: GNMK) announced preliminary first-quarter results, expecting revenues of about $38.7 million, a 80% year-over-year increase.
The company noted that about 80% gross placements included interest in COVID-19 testing SARS-CoV-2 consumable revenues. Analysts, on average, estimate revenues of $24.8 million.
The company also raised its full-year revenue guidance from $100-$110 million to $112-$122 million, while the consensus calls for revenues of $108.58 million.
The stock climbed 29.56% to $5.83 in after-hours trading.
Zomedica Prices Offering of Common Stock, Warrants
mick
5 years ago
Investors in GenMark Diagnostics, Inc. GNMK need to pay close attention to the stock based on moves in the options market lately. That is because the Apr 17, 2020 $7.50 Call had some of the highest implied volatility of all equity options today.
What is Implied Volatility?
Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?
Clearly, options traders are pricing in a big move for GenMark shares, but what is the fundamental picture for the company? Currently, GenMark is a Zacks Rank #3 (Hold) in the Medical - Instruments industry that ranks in the Top 17% of our Zacks Industry Rank. Over the last 30 days, no analysts have increased their earnings estimates for the current quarter, while one analyst has revised the estimate downward. The net effect has narrowed our Zacks Consensus Estimate for the current quarter from a loss of 17 cents per share to a loss of 16 cents in that period.
Given the way analysts feel about GenMark right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
Looking to Trade Options?