Molecular diagnostics company LexaGene Holdings Inc (OTCMKTS:LXXGF) (CVE:LXG) has had a bit of an up and down ride in recent times and yesterday, the stock was in the middle of a heavy selloff. Although it ended the day with a loss of 11%, it should not be forgotten that over the course of the past week, the stock is still up by as much as 9%.
On Monday, LXXGF stock moved down 11.33% to $0.24 with more than 185K shares, compared to its average volume of 229K shares. The stock has moved within a range of $0.2332 – 0.2800 after opening trade at $0.28.
While the stock has had an eventful few days, it is also necessary to point out that there has not been any news about the company in recent times. The last time any news emerged about LexaGene was back on January 3 this year.
The company is well known for having developed an instrument that can perform automatic multiplex PCR testing. Back on January 3, the company had announced that it had managed to bag as many as three more orders for the same from MiQLab Systems.
The orders placed by MiQLab Systems are for the three different veterinary clinics that are located in New York, Michigan and Minnesota. The news about new purchase orders is almost always a positive one. However, it remains to be seen if it can give any fresh momentum to the LexaGene stock.
LXXGF stock is below the 20-Day and 50-Day Moving averages of $0.25 and $0.32 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.42.