CGIX Stock Price: Cancer Genetics Inc still far from highs, could benefit from coronavirus fatigue
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UNLOCK OFFER- NASDAQ: CGIX is set to kick off Tuesday's trading with a downward correction.
- Cancer Genetics Inc's merger with StemoniX opens the door to further gains.
- Fatigue from coronavirus vaccine-related firms may drive investors back toward pharma firms dedicated to other diseases.
After a whopping 114%+ increase, a downward correction makes perfect sense – and that is on the cards for NASDAQ: CGIX. The Rutherford, New Jersey-based pharmaceutical company is set to kick off Tuesday's trading with a fall of around $1 or around over 16%.
As the chart above shows, NASDAQ: CGIX is still trading below the 52-week high of $10.39 and is worth only around $14 million – minuscule in comparison to other firms. Therefore, despite the upcoming "hangover," there is room to rise.
Another bullish factor that may support Cancer Genetics Inc. is investor fatigue with coronavirus vaccine-related companies. These have been at the forefront as the world is gripped by the highly contagious disease. Every stock under the sun – from behemoths such as Pfizer to up and coming startups – have shot higher after every announcement.
However, the world does not need many different vaccines, only a handful at best – if not only one tried and tested one. The saturated COVID-19 market – which also includes firms focused on treatments rather than immunization – has suffered sell-offs of late.
It is essential to note that cancer and heart illnesses remain prominent causes of death – and companies working on solution in these fields may offer value to investors.
CGIX Stock News
The surge in Cancer Genetics Inc's stock came after it announced a merger with StemoniX, enhancing its cancer treatment offering. StemoniX is focused on pluripotent stem (iPSC) cell-derived neural and cardiac screening platforms for drug discovery and development. It harnesses sophisticated software that offers synergies with CGIX.
The merger would allow the larger firm to benefit from both companies' ties with various pharmaceutical companies – a business advantage in addition to the technological one.
- NASDAQ: CGIX is set to kick off Tuesday's trading with a downward correction.
- Cancer Genetics Inc's merger with StemoniX opens the door to further gains.
- Fatigue from coronavirus vaccine-related firms may drive investors back toward pharma firms dedicated to other diseases.
After a whopping 114%+ increase, a downward correction makes perfect sense – and that is on the cards for NASDAQ: CGIX. The Rutherford, New Jersey-based pharmaceutical company is set to kick off Tuesday's trading with a fall of around $1 or around over 16%.
As the chart above shows, NASDAQ: CGIX is still trading below the 52-week high of $10.39 and is worth only around $14 million – minuscule in comparison to other firms. Therefore, despite the upcoming "hangover," there is room to rise.
Another bullish factor that may support Cancer Genetics Inc. is investor fatigue with coronavirus vaccine-related companies. These have been at the forefront as the world is gripped by the highly contagious disease. Every stock under the sun – from behemoths such as Pfizer to up and coming startups – have shot higher after every announcement.
However, the world does not need many different vaccines, only a handful at best – if not only one tried and tested one. The saturated COVID-19 market – which also includes firms focused on treatments rather than immunization – has suffered sell-offs of late.
It is essential to note that cancer and heart illnesses remain prominent causes of death – and companies working on solution in these fields may offer value to investors.
CGIX Stock News
The surge in Cancer Genetics Inc's stock came after it announced a merger with StemoniX, enhancing its cancer treatment offering. StemoniX is focused on pluripotent stem (iPSC) cell-derived neural and cardiac screening platforms for drug discovery and development. It harnesses sophisticated software that offers synergies with CGIX.
The merger would allow the larger firm to benefit from both companies' ties with various pharmaceutical companies – a business advantage in addition to the technological one.
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