Why These 4 Coronavirus-Focused Stocks Are Soaring Today
Several stocks for companies focused on diagnosing, treating, and preventing the coronavirus disease COVID-19 were soaring on Thursday. Shares of GenMark Diagnostics (NASDAQ: GNMK) were jumping 25.8% higher as of 11:32 a.m. Co-Diagnostics (NASDAQ: CODX) wasn't far behind, with the stock up 20.4%. Shares of Alpha Pro Tech (NYSEMKT: APT) were climbing 7.2% higher after rising as much as 15.9% earlier in the day. And shares of BioCryst Pharmaceuticals (NASDAQ: BCRX) were up 7.4% after vaulting as much as 20.2% earlier today.
There were different catalysts for each stock. GenMark continued to ride momentum from its news on Monday that it had shipped its first test kits designed to detect the SARS-CoV-2 novel coronavirus. Co-Diagnostics announced earlier on Thursday morning that domestic and international demand was surging for its novel coronavirus detection kits.
Alpha Pro Tech didn't announce any new developments this week, but the company has ramped up production of its face masks that protect against viral infection and continues to benefit from heightened investor attention. Meanwhile, BioCryst reported better-than-expected fourth-quarter results before the market opened on Thursday.
Source Fool.com
