Why Shares of Genetron Holdings Are Up More than 9.3% on Tuesday
Genetron Holdings (NASDAQ: GTH), a Chinese oncology testing company, briefly climbed to a high of $11.11 a share on Tuesday morning, up more than 9.3% over its closing price of $9.60 a share on Monday. The stock opened at $10.21 on Tuesday, then rose to $11.11 in early trading, before falling back down below $10 a share in the mid-morning. It's still close to its 52-week low of $9.53 and far below its 52-week high of $31.54.
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Genetron reported its third-quarter earnings before the market opened on Tuesday. The company's reported revenue for the quarter was $23.7 million, up 36.2% year over year. The company said its biggest area of growth was its in-hospital revenue, which it listed at $80 million, up 70.5% compared to the same period in 2020. It also said that its gross margins had grown from 62% to 69%. Genetron reported a net loss of $20.2 million for the quarter, compared to a loss of $48 million in the prior-year period.
Source Fool.com
