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The latest update is out from Genedrive ( (GB:GDR) ).
Genedrive PLC has announced a proposed share capital reorganisation to facilitate future fundraising efforts. The reorganisation aims to reduce the nominal value of existing shares, allowing the company to issue new shares at market value, which is currently below the nominal value. This move is crucial as Genedrive seeks additional capital to extend its cash runway beyond mid-October 2025. The company is also seeking shareholder approval to increase the authority to allot shares and disapply pre-emption rights, which would provide greater flexibility in securing necessary funds. The board believes these steps are in the best interest of the company and its shareholders.
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 operates in the healthcare industry, focusing on point of care pharmacogenetic testing. The company is known for its Genedrive® MT RNRI ID Kit and CYP2C19 Point of Care Pilot, with a market focus on expanding its testing solutions in the UK, particularly through collaborations with institutions like the National Institute for Health and Care Clinical Excellence and Manchester University NHS Foundation Trust.
Average Trading Volume: 6,280,971
Technical Sentiment Signal: Strong Sell
Current Market Cap: £4.84M
For an in-depth examination of GDR stock, go to TipRanks’ Overview page.