One stock that has been pulling back in recent action, but in the context of a very strong upward trend is Predictive Technology Group Inc (OTCMKTS:PRED). The recent action presents a potentially constructive pattern that – not to be overly “predictive” – could represent an interesting opportunity for prospective trend-following longs. To make matters more interesting, the company just announced that Kenneth Ward, M.D. will present new genetic findings in endometriosis at the 2019 European Society of Human Reproduction and Embryology (ESHRE) meeting on Monday, June 24 in Vienna, Austria.
According to the release, “Dr. Ward is CEO of Juneau Biosciences, Laboratory Director of Predictive Laboratories and a member of the Predictive Technology Group Scientific Advisory Board. Predictive Technology Group inlicensed the technology supporting its ARTGuide Test for endometriosis and other genetic causes of infertility from Juneau Biosciences and is Juneau Biosciences’ largest shareholder.”
Predictive Technology Group Inc (OTCMKTS:PRED) promulgates itself as a company that, together with its subsidiaries, develops and commercializes discoveries and technologies involved in novel molecular diagnostic and pharmaceutical therapeutic/human cells, tissues, and human cellular and tissue-based products (HCT/Ps).
The company operates through two segments, Regenerative Medicine Products and HCT/Ps, and Diagnostics and Therapeutics. It offers ARTguide, a genetic diagnostic and prognostic test for women experiencing infertility as a result of endometriosis and other health concerns; and regenerative medicine products, including AmnioCyteT, AmnioCyte PlusT, PolyCyteT, and CoreCyteT.
The company was formerly known as Global Enterprises Group, Inc. and changed its name to Predictive Technology Group, Inc. in July 2015. Predictive Technology Group, Inc. was founded in 2005 and is headquartered in Salt Lake City, Utah.
According to company materials, “Predictive Technology Group aims to revolutionize patient care through predictive data analytics, novel gene-based diagnostics and companion therapeutics through its subsidiaries Predictive Therapeutics, Predictive Biotech, and Predictive Laboratories. These subsidiaries are focused on endometriosis, scoliosis, degenerative disc disease and human cell and tissue products. The subsidiaries use genetic and other information as cornerstones in the development of new diagnostics that assess a person’s risk of illness and therapeutic products designed to identify, prevent and treat diseases more effectively.”
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As noted above, PRED just announced Kenneth Ward, M.D. will present new genetic findings in endometriosis at the 2019 European Society of Human Reproduction and Embryology (ESHRE) meeting on Monday, June 24 in Vienna, Austria.
Recent action has seen 31% during the past month in terms of shareholder gains in the company. In addition, the name has registered increased average transaction volume recently, with the past month seeing just shy of 130% beyond what we have been seeing over the larger time frame.
“Predictive is committed to understanding the biology, diagnosis and treatment of endometriosis,” said Bradley Robinson, President and CEO of Predictive Technology Group. “We are thrilled to contribute to the scientific understanding of a disease that has been difficult to treat and believe our investigative efforts will lead to improved patient outcomes in the future.”
Currently trading at a market capitalization of $1.25B, PRED generated sales of $11.3M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 5.7% on the top line. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($1.8M against $11.9M, respectively).
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Disclosure: we hold no position in $PRED, either long or short, and we have not been compensated for this article.