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Omega Diagnostics Stock Rallies After Rapid Test Review

Updated: 16 Feb 2021

Omega Diagnostics shares are rising on Tuesday after a review of performance data was undertaken by the UK Rapid Test Consortium for rapid antibody tests, including the company’s AbC-19TM Rapid Test.

The study and preprint publication were conducted by scientists at PHE, and the Universities of Bristol, Warwick and Cambridge, examined the performance of four lateral flow rapid antibody tests using the same group of samples and shows that the AbC-19TM is highly accurate when tested on samples from people who have previously tested positive by PCR and from samples collected pre-pandemic.

According to Omega, all of the devices tested had an accuracy above 92% with the AbC-19 TM Rapid Test showing the highest accuracy at 97.3%.

“The AbC-19 TM test is an important weapon in the global fight against COVID-19. It allows us to see the neutralising IgG antibodies produced in response to infection, or after vaccination,” commented Professor Chris Molloy, Chair of the UK Rapid Test Consortium.

The news has seen Omega’s share price rise to highs of 88p. However, it is now trading at 83p, giving up some of its earlier gains, up 3.75% on the day.

Should you invest in Omega Diagnostics shares? Omega Diagnostics shares are traded on the AIM market of the London stock exchange (the alternative investment market) which is the sub market specifically for smaller companies. AIM stocks are attractive to investors as they have tax advantages and smaller companies have the potential to benefit from rapid growth. But are Omega shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies

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