Applied DNA Sciences Inc. (APDN) stock fell by 4.46% in the aftermarket, at $5.79 against its last close at $6.06 on November 29. The stock gained 14.34% in the previous trading session at 1.23 million shares exchanging hands. The day’s volume was 1,708% of the 65-day average of 599.3 thousand shares. Intraday trading the stock fluctuated between a high of $6.38 and a low of $5.50, while the 52-week range for the stock is $4.46 to $13.64. APDN stock gained 26.78% in the past five days and 8.60% in the past month. While it has gone up by 18.82% year to date. Currently, the 7.49 million outstanding shares of APDN trade at market capital of $39.68 million.
The descent in the stock in the after-hours seems to be a result of profit booking event due to the previous gain of over 14%.
Applied DNA Sciences Inc. (APDN)
Founded in 1983, Applied DNA Sciences Inc. (APDN) develops and markets DNA-based technology solutions. It provides the solutions for both in vitro diagnostics and preclinical drug development as well as supply chain security, anti-counterfeiting, and anti-theft technology application. Its services and products are marketed in the United States, Europe, and Asia.
Applied DNA Sciences Inc. (APDN) is headquartered in Stony Brook, New York.
Recent Developments
The APDN stock saw a surge in the regular trading session on Monday, making it gain over 14%. The reason for it being actively traded at a huge volume of 1.23 million compared to its average, was the company’s new announcement. On November 29, the company announced its strategy to tackle the new strain of coronavirus, Omicron.
APDN’s Strategy to Tackle Omicron
As per Monday’s announcement, APDN plans to introduce LineaTM 2.0 Covid-19 Assay (Linea 2.0) in response to the new variant of SARS-CoV-2, the Omicron. According to the company, its EUA authorized Linea Assay Kit shows a unique double S-gene target failure (SGTF) specific to the Omicron variant. The company has completed its validation testing for the Linea 2.0 Assay in both single-sample and pooled testing. APDN further added that it will submit the validation data as a Laboratory Developed Test to the New York State Department of Health in a few days. Soon after the submission and review, the company hopes to introduce the Linea 2.0 Covid-19 Assay Kit.
The Linea Covid-19 Assay Kit is a real-time PCR test for the detection of SARS-CoV-2 in respiratory specimens.
