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Genedrive ( (GB:GDR) ) has provided an update.
Genedrive plc has announced the implementation of its Genedrive® MT-RNR1 ID Kit at Dublin’s Rotunda Hospital Neonatal Intensive Care Unit, marking its first international deployment outside the UK. This implementation, funded by the Rotunda Foundation, is part of the ‘Early Identification of Susceptibility to Gentamicin Induced Hearing Loss’ programme. The kit’s deployment is seen as a validation of its market fit, offering rapid bedside testing to identify babies at risk of significant hearing loss, thereby enhancing patient care and reducing the risk of gentamicin-induced hearing loss. The initiative is supported by the ÉISTIGÍ project and the Charlotte Stoker Fund, highlighting the growing acceptance and potential of pharmacogenetic testing in neonatal care.
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 rapid, low-cost, and easy-to-use point-of-care testing platforms. These platforms are designed to diagnose genetic variants, enabling clinicians to make informed decisions about medication and dosage, particularly in emergency healthcare settings. The company’s flagship products, the Genedrive® MT-RNR1 ID Kit and the Genedrive® CYP2C19 ID Kit, are used to guide treatment decisions in neonatal intensive care units and for stroke patients, respectively. Both products have been validated in collaboration with NHS partners and are recommended by NICE for use in the UK NHS.
Average Trading Volume: 55,442,147
Technical Sentiment Signal: Sell
Current Market Cap: £10.75M
See more data about GDR stock on TipRanks’ Stock Analysis page.