Market decline

GenomeWeb Top 40 down 5% in June, followed by broader market decline

NEW YORK — Shares of molecular diagnostics and omics companies fell in June, largely following the broader market.

Overall, the GenomeWeb Top 40 was down 5%. By comparison, the Dow Jones Industrial Average was down 7% from May, while the Nasdaq was down 9%. The Nasdaq Biotech Index, which rose 1%, bucked this broader trend. Of the 40 companies tracked by GenomeWeb, 29 saw their stock prices fall month over month and 11 saw their value rise.

Chinese precision oncology company Biotech Burning Rock, which posted the largest decline of any GenomeWeb Top 40 company in May, posted the largest gain in June, up 21% month on month. the other. At the end of May, the company announced that its Q1 2022 revenue grew 27% year-over-year and reiterated their full-year 2022 revenue forecast of around RMB 620 million, implying 22% growth from full-year 2021.

Burning Rock also announced in early June that it received the CE mark for its OverC Multi-Cancer Detection blood test, intended for the early detection and localization of several types of cancer in people aged 40 to 75.

Diagnostics company Veracyte was June’s second-biggest gainer, up 13% month-over-month. No specific developments appeared to spur the jump, although investors may have seen a buying opportunity in early June when Veracyte stock hit its lowest level since late 2018.

Diagnostics company Meridian Bioscience was the third biggest gainer in June, up 11%. The month continued a year of steady increases for the company, which is up nearly 50% year-to-date. In June he introduced its Lyo-Ready Direct DNA qPCR Stool Mix and Lyo-Ready Direct RNA/DNA qPCR Stool Mix for the molecular detection of nucleic acid from raw fecal samples.

Proteomics company Quantum-Si saw the biggest decline in June, down 45% month-over-month. The company plans to launch its proteomics platform in the second half but has yet to generate revenue.

Cue Health was down 40% month-over-month as demand dried up for its COVID-19 testing offerings. The company confirmed this week that it will lay off 170 people “due to economic challenges affecting many industries” and lack of funding for COVID-19 testing from the US government.

Genetic testing company Invitae was down 34% month-on-month, continuing a decline that has seen the company’s share price fall 72% since early April. The company did not report any news appearing to lead to the June decline.

GenomeWeb Top 40
Company Teleprinter 30 June 22 31-May-22 % change
Adaptive biotechnologies ADPT 8.09 7.82 3.45
AgilentTechnologies A 118.77 127.56 -6.89
Becton Dickinson* BDX 246.53 255.80 -3.62
Berkeley Lights BLI 4.97 4.78 3.97
Bio-Rad Laboratories organic 495.00 537.79 -7.96
Bio-Techne TECHNOLOGY 364.64 369.73 -1.38
Brucker BRKR 62.76 62.48 0.45
Burning Rock Biotechnology BNR 2.91 2.40 9:25 p.m.
CareDx DNAC 9:48 p.m. 25:15 -14.59
Chateau Biosciences CSTL 21.95 22.27 -1.44
Benchmark Health HLTH 3.20 5.29 -39.51
Danaher** HRD 253.52 263.82 -3.90
Exact Sciences EXA 39.39 49.81 -20.92
Searing genetics FLGT 54.33 54.51 -0.33
Ginkgo Bioworks DNA 2.38 3.08 -22.73
Guardian of health GH 40.34 40.98 -1.56
Hological HOLX 69.30 75.27 -7.93
Illuminated ILMN 184.36 239.48 -23.02
Guests NVTA 2.44 3.67 -33.51
Meridian Bioscience LIVE 30.42 27.50 10.62
A myriad of genetics MYGN 18.17 19.24 -5.56
NanoString Technologies NSTG 12.70 15.64 -18.80
Natera NTRA 35.44 36.69 -3.41
NeoGenomics Laboratories NEO 8:15 a.m. 8.42 -3.21
Pacific Biosciences PACB 4.42 5.63 -21.49
Custom PSNL 3.45 3.96 -12.88
Perkin Elmer KPI 142.22 149.67 -4.98
Qiagen QGEN 47.20 45.95 2.72
Quanterix QTRX 16.19 16.86 -3.97
Quantum-SI QSI 2.32 4.25 -45.41
Quidel QLED 97.18 95.03 2.26
Seeing SEEING 8.95 8.88 0.79
Soma Logic SLGC 4.52 6.00 -24.67
Sophia Genetics SOPs 3.62 4.20 -13.81
Thermo Fisher Scientific TMO 543.28 567.57 -4.28
Twist Biosciences TWST 34.96 34.04 2.70
Veracyte VCYT 19.90 17.58 1:20 p.m.
Waters WAT 330.98 327.95 0.92
23andme ME 2.48 3.00 -17.33
10x Genomics TXG 45.25 51.19 -11.60
GenomeWeb Top 40 Average 85.20 90.02 -5.35
*Becton Dickinson paid a dividend of $0.87 on June 8
**Danaher paid a dividend of $0.25 on June 23
***Thermo Fisher Scientific paid a dividend of $0.30 on June 14