Molecular diagnostics firm LexaGene Holdings Inc (OTCMKTS:LXXGF) may be one of the more innovative companies at this point in time but the company’s stock has not performed well in recent times. In the past week the stock has suffered from a strong selloff and gone down by as much as 8% as a consequence.
On Monday, LXXGF stock gained 2.78K to $0.2220 with more than 116k shares, compared to its average volume of 230K shares. The stock has moved within a range of $0.2022 – 0.2220 after opening trade at $0.2190.
LexaGene Starts the Year with Additional MiQLab Sales
The company, which is currently best known for having commercialised an automatic PCR testing instrument for multiplexes, announced yesterday that it had managed to bag more purchase orders for its product MiQLab Systems. The orders in question have been placed by physicians who are based out of New York, Michigan and Minnesota.
It goes without saying that the news about any new purchase orders can often prove to be a major source of positivity about a company but that did not happen with the LexaGene stock. The global sales director of the company, Julia Griggs, spoke about it as well.
She stated that at this point the sales team is involved with a large number of both public and private veterinary practices. Although the stock may not have rallied, it may still be a good move to keep an eye on LexaGene.
LXXGF stock is trading below the 20-Day and 50-Day Moving averages of $0.27 and $0.36 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.45. The stock is up 39% in the past month.