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Yourgene Health (YGEN) Shares Climb On Contract Award

Sam Boughedda trader
Updated 19 Aug 2021

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Shares of molecular diagnostics group Yourgene Health (LON: YGEN) are edging higher on Thursday after the company said it has been awarded a contract to provide laboratory capacity to the NHS Test and Trace Programme COVID-19 testing by the Department of Health & Social Care (DHSC).

In April, Yourgene announced it successfully secured tenders under Public Health England's National Microbiology Framework for lots 1-4 and was one of only three companies to successfully be awarded all four lots. It meant public health authorities across the UK could issue call-off contracts to procure goods and testing services from Yourgene.

This contract is the first to come of the National Microbiology Framework lot wins announced earlier this year, using Yourgene's automated COVID-19 services testing laboratory in Citylabs 1.0, Manchester.

Lyn Rees, Chief Executive Officer, commented: “We are delighted to have been awarded this first contract from the framework, supporting the Government's testing needs utilising our recently completed high throughput COVID-19 diagnostic testing laboratory.”

Yourgene's share price is trading at 14.88p, up 2.69%, after initially rising to 15.74p earlier in the session.

Should you invest in Yourgene Health shares?

Yourgene Health shares are traded on the London stock exchange's AIM market (the alternative investment market), which is the submarket 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 YGEN shares the best buy? Our stock market analysts regularly review the market and share their picks for high growth companies

Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.