This morning the artificial intelligence powered genomic and clinical data intelligence firm Sema4 Holdings Corp (NASDAQ:SMFR) is expected to be in focus after the company saw its stock clock gains of as much as 10% on Thursday.
Trading Data
On Thursday, SMFR stock gained 10.26% to $1.72 with more than 3.88 million shares, compared to its average volume of 1.47 million shares. The stock moved within a range of $1.4900 – 1.7300 after opening trade at $1.53.
Sema4 Reports First Quarter 2022 Financial Results and Business Highlights
The company was actually in the news yesterday after it announced its financial results for the first fiscal quarter that had ended on March 31, 2022. In this situation, it may be a good move from investors to consider taking a look at some of the highlights and then make their minds up about the stock.
The company managed to generate revenues of $50.1 million during the quarter and the figure excludes what it had generated from COVID testing. That reflected an improvement on the $48.3 million in revenues that it had generated in the prior year period. In addition to that, Sema4 had also completed the acquisition of GeneDx Inc.
The acquisition is expected to help the company in boosting its gross margins and help it in eventually becoming profitable. In addition to that, Sema4 had also managed to close a private placement worth as much as $200 million during the course of the first fiscal quarter.
Key Quote
“I am very pleased by our start to the year, which shows fundamental improvements from a financial perspective, as well as significant progress across our strategic objectives. We delivered record test volume and expanded engagement across our health system partnerships,” said Eric Schadt, PhD, President and Chief Research & Development Officer of Sema4.
Technical Data
SMFR stock is trading below the 20-Day and 50-Day Moving averages of $2.19 and $2.63 respectively. Moreover, the stock is trading below 200-Day moving average of $5.73.
