Genedrive's stock price has slipped since its May 2020 high, and there's no doubt that the company remains a risky investment.。However, if some elements of the previous business plan come back into play, the stock price could see another eye-popping gain

Short-term traders can use technical analysis to buy and sell Geneddrive stocks; long-term traders can use fundamental analysis to answer another question - is Geneddrive worth buying and holding?

Geneddrive Introduction

Geneddrive's core business is the development of rapid, low-cost molecular diagnostic platforms for the identification and treatment of specific infectious diseases.。The company also has other divisions involving human genotyping, animal health and pathogen identification.。The company uses cutting-edge technology and is based at the University of Manchester, with its academic roots

In 2016, the company changed its name from Epistem Plc to Geneddrive Plc, which represents a shift in the company's approach to business as it looks to develop commercial applications for its range of new products.

When COVID-19 hit in early 2020, the company was soon able to meet the rapidly rising demand for a wide range of products needed to manage the global pandemic, and its product Geneddrive ® 96 COV19-ID kit raised hopes for easy-to-use, reliable and rapid COVID-19 detection using breakthrough technology

Geneddrive Stock Price (End of 2023）

Geneddrive's share price forecast is heavily influenced by whether its products go public or not

The rise and fall in share prices reflects the fact that such products are subject to formal clinical identification and regulatory filings, and the length of processing is difficult to predict

However, the company has a poor balance sheet, it has yet to turn a profit, and revenues are minimal at best.。Although it recently stated that "the company has sufficient cash for current plans and forecasts," its cash reserves are still being depleted.。In addition, it noted that "revenue growth will accelerate through 2023 and beyond."

On a positive note, GDR's share price has risen sharply recently after the UK's National Institute for Health and Healthcare Optimization (NICE) approved in draft guidelines the use of the company's CYP2C19 genetic test before patients use clopidogrel, a drug used to prevent strokes.

But despite the company's confidence, if it continues to bleed, shareholders' interests could be further damaged.

Geneddrive Long-Term Forecasts

It is clear that Geneddrive is largely in a "buyer's conceit" state, but given the recent pullback following the NICE announcement, this is a temptation for many investors.

In-depth study of the company's latest report and outlook, as mentioned earlier, the company said that although revenue in the first half was small, it expects to accelerate growth in 2023, while NICE's recommendations are expected to promote the promotion of our AIHL products in the UK and international markets.

GDR said: "We see the commercial impetus from focusing on genetic testing of drugs and investing in new products, and are optimistic about our future ability to succeed by creating value for shareholders and improving people's lives."

In addition, in March 2023, GDR confirmed a £5 million financing loan to fund the company's future growth.

Despite concerns about Geneddrive and its stock, the company remains confident and has some positive signs;。However, investors interested in buying GDR shares should exercise caution and understand the risks of the business they are buying

Is Geneddrive worth buying?

There are so many "unknowns" that investors who are not the world's top academics in medical diagnostics will rely on the terminology of medical data.

Other risks include the size of Geneddrive, which could be trading close to £3 during the share price boom, but it's still just a small-cap penny stock, be aware of this peculiarity。Of course, if the company can manage its cash flow and meet its revenue commitments, the returns could be considerable, but investors should also be aware of the significant risks involved