Sequenom Gains 20% on Down’s Syndrome Discovery
Jun 4th, 2008 | By J. Christoph Amberger | Category: Stock Market InvestingShares of biotech smallcap Sequenom, Inc. (Nasdaq:SQNM) soared over 20% in morning trading after the genetics and molecular diagnostic company reported that its nucleic acid technology is able to detect Down’s syndrome in pregnant women.
Sequenom, Inc. is a San Diego-based genetics and molecular diagnostic company that provides genetic analysis products/services and develops diagnostic tests initially targeted at non-invasive prenatal genetic disorders.
The stock currently trades just below $10, up over 100% from its March 2008 low of $4.25, but still comfortably below its 52-week high of $11.63.
Momentum traders should buy this stock in view of the media dissemination chain of positive news, which should keep the company in the news for at least until the weekend. Buy at current levels below $9.50, with a 20-25% profit short-to-medium-term profit target.
Source: Sequenom Gains 20% on Down’s Syndrome Discovery
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Amberger began his career as a freelance contributor to Agora publications before emigrating from Germany to the United States in 1989, when he joined the editorial board of Taipan. In 1991, he took over as managing editor for the publication and assumed responsibility as group publisher four years later. In 2007 Christoph left Taipan and founded Today's Financial News.
