ISPC stock rose 7% in morning trade on January 13, 2022, after the company announced it was expanding its specimen lab in New York.
iSpecimen Expands Support of COVID-19 Research with Availability of Sequenced Specimens to Detect Variants
On January 13, 2022, iSpecimen Inc. (Nasdaq: ISPC), an online marketplace for human biospecimens, today announced the expansion of its supplier capabilities with the addition of a reference lab in New York to support commercial and government customers focused on COVID-19 research, including analyzing the Omicron and Delta variants. The reference lab, a recent addition to the iSpecimen supplier network, has the capacity to sequence hundreds of COVID-19 positive swabs per week, providing data that is crucial in the fight against the virus. This lab is sequencing the most recent swabs to identify new variants of COVID-19 as the virus continues to progress globally.
“The sequencing of nasal swabs is necessary to determine which variant a patient has tested positive for and provides variant-positive specimens for research,” said iSpecimen Founder and CEO, Christopher Ianelli, MD, Ph.D. “Through our relationship with this reference lab, we are able to quickly and efficiently support both commercial and government researchers working day and night to battle COVID-19.”
For researchers looking to validate their own variant identification assays, iSpecimen can obtain sequenced and unsequenced COVID-19 positive and negative swabs in a variety of media types. To learn more about COVID-19 specimens at iSpecimen, please visit iSpecimen’s website at https://pages.ispecimen.com/COVID-19-Samples.html.
iSpecimen has been working diligently with the research community to understand COVID-19. In early 2020, iSpecimen began sending serum samples to the U.S. Centers for Disease Control and Prevention (“CDC”) to help researchers monitor antibody development for possible guidance on immunity. iSpecimen has provided the CDC with 600 SARS-CoV-2-positive serum samples and 100 negative serum samples. In addition, iSpecimen has provided other federal agencies and private companies custom COVID-19 collections, which are often complex and complement the more immediate availability of remnant or banked samples. Overall, iSpecimen has delivered more than 15,000 specimens for more than 200 COVID-related projects since the start of the pandemic.
iSpecimen offers an online marketplace for human biospecimens, connecting life scientists in commercial and non-profit organizations with healthcare providers that have access to patients and specimens needed for medical discovery. Proprietary, cloud-based technology enables scientists to intuitively search for specimens and patients across a federated partner network of hospitals, labs, biobanks, blood centers, and other healthcare organizations. For more information about iSpecimen, please visit https://www.ispecimen.com.
Craig-Hallum bullish on iSpecimen, initiates with a Buy
On January 4, 2022, as previously reported, Craig-Hallum analyst Matthew Hewitt initiated coverage of iSpecimen with a Buy rating and $20 price target. “Much the way Amazon has become the go-to platform for buyers and sellers of consumer goods,” the analyst believes iSpecimen can become the go-to platform for human biospecimens. While the company was founded in 2009, it has only recently reached a critical mass of buyers and sellers, with revenueThe income statement provides a summary of a company's revenue and expenses over a specified period of time, typically a year or a quarter. It shows the company's total revenue, th... for 2021 on track to be nearly triple the 2019 level, Hewitt notes.
📺 iSpecimen (ISPC) CEO On Biospecimens[embedyt] https://www.youtube.com/watch?v=kZMatvZox70[/embedyt]
📈 ISPC Stock Technical Analysis
The long-term trend is neutral, but the short-term trend is negative. Better to stay away from this! ISPC is one of the lesser performing stocks in the Health Care Technology industry. All 53 stocks in the same industry do better. ISPC is currently trading in the lower part of its 52-week range, which is not a good signal considering the S&P500 Index is trading near new highs.
There is a support zone ranging from 6.82 to 6.84. This zone is formed by a combination of multiple trend lines in multiple time frames.
There is resistance at 8.54 from a trend line in the daily time frame.
ISPC has a poor technical rating and the quality of the setup is also not perfect at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when ISPC stock consolidates and is a good long entry.