Novacyt (LON:NCYT) Shares Down 9.2% – Here’s What Happened

Novacyt S.A. (LON:NCYT) dropped 9.2% during trading on Wednesday . The company traded as low as GBX 55 and last traded at GBX 55.60. Approximately 1,811,013 shares were traded during mid-day trading, an increase of 618% from the average daily volume of 252,315 shares. The stock had previously closed at GBX 61.20.

Novacyt Stock Down 11.2%

The stock has a market capitalization of £39.36 million, a P/E ratio of -1.26 and a beta of 0.97. The company has a debt-to-equity ratio of 44.73, a current ratio of 4.74 and a quick ratio of 4.46. The stock’s fifty day moving average is GBX 36 and its two-hundred day moving average is GBX 36.32.

Novacyt (LON:NCYT) last posted its quarterly earnings results on Thursday, April 30th. The company reported GBX (33) earnings per share (EPS) for the quarter. Novacyt had a negative return on equity of 111.34% and a negative net margin of 135.96%.The business had revenue of GBX 2,003 million during the quarter.

About Novacyt

Novacyt is an international molecular diagnostics company providing a broad portfolio of integrated technologies and services, primarily focused on the delivery of genomic medicine. The Company develops, manufactures, and commercialises a range of molecular assays and instrumentation to deliver workflows and services that enable seamless end-to-end solutions from sample to result across multiple sectors including human health, animal health and environmental.

The Company is divided into three business segments:

Clinical
Broad portfolio of human clinical in vitro diagnostic products, workflows and services focused on three therapeutic areas:
· Reproductive Health: NIPT, Cystic Fibrosis and other rapid aneuploidy tests
· Precision Medicine: DPYD genotyping assay
· Infectious Diseases: Winterplex, multiplex winter respiratory PCR panel

Instrumentation
Portfolio of next generation size selection DNA sample preparation platforms and rapid PCR machines, including:
· Ranger® Technology: automated DNA sample preparation and target enrichment technology
MyGo: real-time quantitative PCR (qPCR) instruments

Research Use Only
Range of services for the life sciences industry:
· Design, manufacture, and supply of high-performance qPCR assays and workflows for use in human health, agriculture, veterinary and environmental, to support global health organisations and the research industry
· Pharmaceutical research services: whole genome sequencing (WGS) / whole exome sequencing (WES)

Novacyt is headquartered in Vélizy-Villacoublay in France with offices in the UK (in Stokesley, Eastleigh and Manchester), Taipei, Singapore, the US and Canada and has a commercial presence in over 65 countries.