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The Next Wave for Virus Testing Stocks (NASDAQ: HOLX) (OTC US: ALST) (NASDAQ: FLGT)

By: OTC

While vaccines are rolling out rapidly around the developed world, and uptake is expected to produce some version of herd immunity within the next six months, scientists are acclimating to the idea that we may be locked in a long-term battle with Covid-19 that could last years or even decades.

While the pandemic health crisis may recede from the front page during most of that battle, organizations, cities, states, countries, and major institutions will have to maintain a constant vigil and act with well-honed protocols to maintain our advantage in the fight.

One of the most important tools in this war will be rapid results testing resources, which is set to become a major industry with a very bright future.

As such, we take a look at a few of the more interesting names in that space, including: Hologic Inc. (NASDAQ  HOLX), Allstar Health Brands Inc. (OTCMKTS: ALST), and Fulgent Genetics Inc (NASDAQ: FLGT).

 

Fulgent Genetics Inc. (NASDAQ: FLGT) provides genetic testing services to physicians with clinically actionable diagnostic information.

The company’s technology platform integrates data comparison and suppression algorithms, adaptive learning software, and genetic diagnostics tools and integrated laboratory processes. The company primarily serves hospitals and medical institutions. It sells its tests through internal sales force, as well as through independent sales representatives in the United States and internationally.

Fulgent Genetics Inc. (NASDAQ: FLGT) recently announced that the Company has extended its partnership with the New York City Department of Education (or “NYC DOE”) and NYC Health + Hospitals for COVID-19 testing through the remainder of the 2021 school year. The contract was awarded after a competitive process where Fulgent demonstrated its COVID-19 testing capabilities, including its accurate and reliable test offerings, easy to use reporting systems and fast turnaround times.

“We have been working with the teams in New York City over the last several weeks, which has been going extremely well. The ongoing success of our COVID-19 testing program is a major testament to the hard work of the teams in New York City and the Fulgent staff involved in the project,” said Brandon Perthuis, Fulgent’s Chief Commercial Officer.

While this is a clear factor, it has been incorporated into a trading tape characterized by a pretty dominant offer, which hasn’t been the type of action FLGT shareholders really want to see. In total, over the past five days, shares of the stock have dropped by roughly -7% on above average trading volume. All in all, not a particularly friendly tape, but one that may ultimately present some new opportunities.

Fulgent Genetics Inc. (NASDAQ: FLGT) generated sales of $101.7M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 489.1% on the top line. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($74.9M against $57.7M).

 

Allstar Health Brands Inc. (OTCMKTS: ALST) is the most speculative name in this basket, but it may also end up being the stock with the greatest upside potential simply because it is the least well known and likely has seen the least interest to date.

One of ALST’s core assets at this point is its partnership with TPT Global Tech, a technology and solutions company. The two companies are collaborating to create and distribute the QuickLAB module, a rapid testing solution for Covid-19. The two companies had already recently signed an agreement for Mexico and other Latin American countries through TPT Global Tech’s partner New Orbit Technologies. Now, they have signed an expanded agreement to bring QuickLAB distribution to Canada and US to add to the existing Non-Exclusive Distribution Agreement for Mexico and other Latin American countries.

Allstar Health Brands Inc. (OTCMKTS :ALST) most recently announced it has signed an Agreement with a Consulting group intending to Distribute the COVID-19 suite of testing capabilities and reporting Software AllStar Distributes for TPT Medtech. The new territories include South Africa, Sub-Saharan Africa, Angola and Portugal.

“Our goal is to quickly build on the model we have begun in Jamaica, and now offer rapid and reliable testing solutions to various sectors of the South African economy, including testing in the vast mining industry as well as other sectors of the economy such as tourism and the public in general,” remarked Dr. Daniel Bagi, CEO of AllStar. “We offer a full range of solutions, including the mobile testing labs which can be set-up at the entrance to mines, complete with all the current testing solutions available: PCR, Antigen, and Antibody tests as well as the QuikPASS and Check & Verify software to ensure the testing is validated across several accepted platforms. The added benefit of the software is that once vaccinations begin, the results will also be available on the individual’s ‘COVID19 passport’. We view acceptance and launch in South Africa as a springboard into other countries in Africa, so we are working towards having South Africa as our entry point into the Continent.”

Allstar Health Brands Inc. (OTCMKTS: ALST) generated sales of $178K, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 224.2% on the top line. ALST is surely a more speculative name on this list. But with the company’s recent expansion and partnership, it may also be the most underpriced.

 

Hologic Inc. (NASDAQ: HOLX) frames itself as a diagnostics testing technology company that developed SARS-CoV-2 assays on both its Panther and Panther Fusion systems. Both assays enable labs to run over 1000 tests in 24 hours and attain first results in 3.5 hours or less.

The Panther Fusion SARS-CoV-2 assay is a real-time PCR test, and the Aptima SARS-CoV-2 assay utilizes its proprietary TMA technology. Both assays are intended for the qualitative detection of RNA from SARS-CoV-2 isolated and purified from nasopharyngeal, nasal, mid-turbinate and oropharyngeal swab specimens, nasopharyngeal wash/aspirate or nasal wash, and lower respiratory tract specimens (Panther Fusion assay only) obtained from individuals who meet COVID-19 clinical and/or epidemiological criteria.

Hologic Inc. (NASDAQ: HOLX) recently announced a multi-year strategic collaboration with Google Cloud that will feature the integration of Google Cloud’s machine learning (ML) technologies with Hologic’s cutting-edge Genius Digital Diagnostics System to transform screening and accelerate the eradication of cervical cancer across the globe.

“Hologic has been at the forefront of cervical cancer screening for more than 30 years, and we are building on that legacy with this strategic collaboration,” said Kevin Thornal, President of Hologic’s Diagnostic Solutions Division. “Enhancing our use of AI with Google Cloud’s machine learning capabilities and cloud architecture is the next natural step in this journey forward.”

It will be interesting to see if the stock can break out of its recent sideways action. Over the past week, the stock is net flat, and looking for something new to spark things. Shares of the stock have powered higher over the past month, rallying roughly 10% in that time on strong overall action.

Hologic Inc. (NASDAQ: HOLX) generated sales of $1.6B, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 19.5% on the top line. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($868.7M against $1.1B, respectively).

 

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