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Yourgene Health (YGEN) Shares Rally On DHSC Contract

Sam Boughedda trader
Updated 10 Sep 2021

AIM-listed Yourgene Health's share price is rallying on Friday after the company said a Contract Award Notice has been published regarding its contract with the Department of Health & Social Care.

The contract is the first to come from the National Microbiology Framework Lot wins, using Yourgene's high throughput automated COVID-19 services testing laboratory in Citylabs 1.0, Manchester.

There is a final contract notice value of £34m. However, this is the maximum estimated value of the contract. The actual value will depend on the services purchased, and there is no committed spend under the contract.

Yourgene did state that samples are already being processed as part of the contract.

The company's shares are currently trading at 16.52p, up 4.92%, after initially climbing to a high of 17.3p earlier in the session. In 2021, Yourgene shares have gained 12%.

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.