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UKRAINE – 2021/03/28: In this photo illustration the stock market information of Bio-Rad … [+] Laboratories, Inc. seen displayed on a smartphone with the Bio-Rad Laboratories, Inc. logo in the background. (Photo Illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images)
SOPA Images/LightRocket via Getty Images
The stock price of Bio-Rad Laboratories (NYSE: BIO), a life science research and clinical diagnostic products company, has seen a 10% rise over the last twenty-one trading days, while it is up 30% over the last year, driven by positive developments for the company. Last month, Bio-Rad announced its partnership with South Korea based Seegene Inc., a multiplex molecular diagnostics company, for the development and commercialization of infectious disease molecular diagnostic products in the U.S. [1] Last week, the company also received CE Mark for its SARS-CoV-2, Influenza RT-PCR Assay Kit. Bio-Rad’s assay kit can simultaneously detect Covid-19 and influenza viruses in a single reaction. This will be helpful in differentiating the cases of Covid-19 that do not involve flu infection, and now with the CE mark, the company can also expect a near-term growth in revenues from this test.
However, now that BIO stock has seen a rise of 10% in twenty-one trading days, will it continue its upward trajectory, or is a fall imminent? Going by historical performance, there is a higher chance of a decline in BIO stock over the next month. Out of 206 instances in the last ten years that BIO stock saw a twenty-one day rise of 10% or more, 111 of them resulted in BIO stock declining over the subsequent one month period (twenty-one trading days). This historical pattern reflects 111 out of 206, or about 54% chance of a decline in BIO stock over the coming month. See our analysis on Bio-Rad Laboratories Stock Chances of A Decline for more details.
Calculation of ‘Event Probability’ and ‘Chance of Rise’ using last ten years data
After moving -0.06% or more over a five-day period, the stock rose in the next five days on 56% of the occasions.
After moving 2.6% or more over a ten-day period, the stock rose in the next ten days on 54% of the occasions
After moving 10.0% or more over a twenty-one-day period, the stock rose in the next twenty-one days on only 46% of the occasions.
Predict average return on Bio-Rad Laboratories Stock Return: AI Predicts BIO Average and Excess Return After a Fall or Rise
Bio-Rad Laboratories Stock Return (Recent) Comparison With Peers
Five-Day Return: MTD highest at 0.9%; SPY lowest at -1%
Ten-Day Return: WAT highest at 5.6%; PKI lowest at -0.3%
Twenty-One Days Return: TMO highest at 11%; SPY lowest at 2.2%
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