Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Genedrive ( (GB:GDR) ) has issued an update.
Genedrive plc announced that it has conditionally raised approximately £3.62 million through a combination of a Retail Offer and a Conditional Placing. The Retail Offer alone raised about £0.33 million, with demand exceeding the available allocation, leading to the issuance of 164,875,000 Retail Offer Shares. The fundraising efforts are still subject to certain conditions, including the passing of resolutions at an upcoming General Meeting. This capital raise is expected to support Genedrive’s strategic growth plans, enhancing its market position in the pharmacogenetic testing industry.
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 UK-based pharmacogenetic testing company that develops and commercializes a low-cost, rapid, and versatile point-of-need pharmacogenetic platform for diagnosing genetic variants. This platform aids clinicians in making informed decisions about medicine or dosage, particularly in emergency healthcare settings. The company’s flagship products, the Genedrive® MT-RNR1 ID Kit and the Genedrive® CYP2C19 ID Kit, are designed for use in neonatal intensive care and stroke patient care, respectively, and have been recommended for use by the UK NHS.
Average Trading Volume: 18,157,932
Technical Sentiment Signal: Strong Sell
Current Market Cap: £2.31M
For an in-depth examination of GDR stock, go to TipRanks’ Overview page.