Unusual dark pool activity was detected in Cooper Companies $COO stock leading up to an impressive downtrend channel breakout on November 11, 2022.
The dark pool trade occurred on November 2, 2022, with an estimated value of $33 million. We think the dark pool trade was a buy order because of how $COO stock rose following the print hitting the tape.
Make sure to review this lesson on dark pool trading so that you understand the chart above.
We think the dark pool trade has to do with the BioSkryb Genomics deal announced on October 18, 2022.
BioSkryb Genomics and Cooper Surgical Ink Multi-Year Deal
On October 18, 2022, BioSkryb Genomics announced a multi-year agreement with Cooper Genomics. Cooper Genomics will use the BioSkryb technology to improve their preimplantation genetic testing capabilities. The agreement will also let Cooper Genomics market and sell the BioSkryb technology for the PGT and women’s reproductive health market worldwide.
Approximately 15 percent of couples suffer from infertility, about 48 million couples worldwide. Couples often turn to in vitro fertilization in order to get pregnant. Preimplantation genetic testing is used to identify embryos with the correct number and makeup of chromosomes, known as euploid embryos, with the aim of transferring only these euploid embryos. Multiple studies have shown that transferring only one embryo at a time increases live birth rate, decreases miscarriage rate, and reduces the chance of having a multiple pregnancy.
According to Charles Smith Ph.D., Executive Vice President of Life Science Services and Innovation at Cooper Genomics, “Screening IVF embryos for chromosomal and other genetic abnormalities before transfer has been shown to increase the likelihood of achieving a successful pregnancy, including increasing implantation rates, reducing miscarriage rates, increasing live birth rates, and enabling single embryo transfers. Having access to the BioSkryb technology will provide a new level of genomic analysis and testing accuracy, enhancing the positive impact we have in the field of women’s reproductive health and in the lives of patients around the world.”
The recently announced deal will provide Cooper Genomics with BioSkrybs ResolveDNATM single-cell genomic amplification technology. This will allow researchers and clinicians to gain deeper insights into the genome in order to evaluate embryonic viability. ResolveDNA uses Primary Template-directed Amplification (PTA) technology. PTA is a controlled reaction that can be used to amplify the genomes of single cells. This approach produces the best single-cell genomics analyses available today for many different fields, such as oncology, neurology, cell and gene, cardiovascular, microbiome, and reproductive health.
“The ground-breaking technology behind our ResolveDNA product was designed specifically to address the challenges seen with current bulk sequencing and single-cell analysis, such as uniform coverage of the genome, breadth of genomic coverage, as well as specificity of the resolution required for accurate variant calling. These challenges can particularly hinder confidence in the analysis of preimplantation genetic testing,” said Jay A.A. West, Ph.D., CEO and Co-founder of BioSkryb. “The partnership with Cooper Genomics will bring more precise and complete understanding of the genome, further supporting the accurate determination of viable embryonic use.”
The Cooper Companies $COO Technical Analysis
$COO stock is in a weak downtrend rating. But the stock just did a downtrend channel breakout on November 11, 2022. The upward move is impressive to say the least. The stock looks set to run up and test the $337.27 to $352.81 resistance area.