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Genedrive ( (GB:GDR) ) has provided an announcement.
Genedrive PLC has announced a retail offer of new ordinary shares as part of a fundraising initiative. The offer, which is separate from a concurrent placing of shares, aims to raise capital by issuing shares at 0.20 pence each. The proceeds from this offer will be used similarly to those from the placing, with the completion of the retail offer contingent on the admission of new shares to the AIM market. The company is also issuing warrants to subscribers, allowing them to purchase additional shares at a future date. This initiative underscores Genedrive’s commitment to engaging its retail shareholder base and strengthening its financial position.
The most recent analyst rating on (GB:GDR) stock is a Hold with a £1.50 price target. To see the full list of analyst forecasts on Genedrive stock, see the GB:GDR Stock Forecast page.
Spark’s Take on GB:GDR Stock
According to Spark, TipRanks’ AI Analyst, GB:GDR is a Neutral.
Genedrive is navigating profitability challenges despite strong revenue growth and a solid balance sheet. Technical analysis indicates bearish momentum, while valuation metrics are unappealing due to lack of profitability. However, recent corporate developments are promising, potentially enhancing market positioning and future prospects.
To see Spark’s full report on GB:GDR stock, click here.
More about Genedrive
Genedrive PLC is a company operating in the point of care pharmacogenetic testing industry. It focuses on providing genetic testing solutions that can be used at the point of care, allowing for rapid and accurate genetic analysis.
Average Trading Volume: 8,762,500
Technical Sentiment Signal: Strong Sell
Current Market Cap: £3.51M
See more insights into GDR stock on TipRanks’ Stock Analysis page.