Complete Genomics (GNOM) Moves Higher on Life Technologies (LIFE) Acquisition
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Complete Genomics (Nasdaq: GNOM) is popping higher, possibly on the acquisition of Navigenics, Inc., by Life Technologies (Nasdaq: LIFE), as reported late Monday. Financial terms of the deal weren't disclosed.
Shares of Complete Genomics are up well over 12 percent on the session, with strong volume on the move today. Not that Complete Genomics is necessarily an acquisition target, but with a market cap just shy of $100 million, it might be a solid play for a PE firm willing to take a risk.
Just last week, Complete Genomics went on a run following strong LFR testing data, a big positive for the biotech company.
Navigenics, Inc. develops and commercializes genetics-based products and services to improve individual health. Investors in Navigenics include Kleiner Perkins Caulfield and Byers, Mohr Davidow Ventures, and The Procter & Gamble Company (NYSE: PG).
Traders might also keep an eye on Illumina (Nasdaq: ILMN) and Affymetrix (Nasdaq: AFFY), which are both up as well today.
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Shares of Complete Genomics are up well over 12 percent on the session, with strong volume on the move today. Not that Complete Genomics is necessarily an acquisition target, but with a market cap just shy of $100 million, it might be a solid play for a PE firm willing to take a risk.
Just last week, Complete Genomics went on a run following strong LFR testing data, a big positive for the biotech company.
Navigenics, Inc. develops and commercializes genetics-based products and services to improve individual health. Investors in Navigenics include Kleiner Perkins Caulfield and Byers, Mohr Davidow Ventures, and The Procter & Gamble Company (NYSE: PG).
Traders might also keep an eye on Illumina (Nasdaq: ILMN) and Affymetrix (Nasdaq: AFFY), which are both up as well today.
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