QIAGEN N.V. QGEN recently announced that Bode Technology will be the exclusive global commercial partner for its GEDmatch PRO genealogy database. QIAGEN’s subsidiary Verogen inked the deal with Bode. The company has been providing GEDmatch PRO to customers since the acquisition of its subsidiary, Verogen, in early 2023.
The latest partnership is aimed at accelerating the use of QIAGEN’s next-generation sequencing (NGS) products in human identification (HID) and forensic investigations.
QGEN’s Likely Stock Trend Following the News
Following the news, shares of QGEN remained unchanged at $44.46 in pre-market trading today. The company is gaining a high level of synergies from its continuous development and strategic expansions in the forensics and human identification space through its NGS products. We expect the latest partnership to motivate market sentiment in the coming days.
Meanwhile, QGEN currently has a market capitalization of $10.15 billion. In the last reported quarter, it delivered an earnings surprise of 5.77%. The company has a trailing four-quarter average earnings surprise of 2.64%.
Details on QIAGEN’s Partnership With Bode
Under the partnership, Bode will manage all commercial transactions for GEDmatch PRO globally. It will focus on client acquisition and service. QIAGEN will continue to develop new features with input from Bode’s genealogy experts. Bode will maintain the highest level of data security as GEDmatch PRO users continue to own their case data. No additional identifying information will be shared with Bode.
Verogen will continue to have the sole responsibility of GEDmatch and manage its separate consumer database and free DNA comparison-and-analysis website.
For investors’ note, GEDmatch PRO is the leading forensic investigative genetic genealogy (FIGG) solution, which is used to assist police and forensic teams with investigative comparisons of genetic data.
Significance of QIAGEN’s Latest Partnership
Bode is the largest private forensic DNA laboratory in the United States and has a growing presence worldwide. QIAGEN has a leading position in the use of NGS for forensic and HID applications.
Hence, the latest partnership will leverage QIAGEN’s expertise in forensic products and Bode’s years of experience in forensics to extend the long-standing partnership between the companies in FIGG solutions. It will further accelerate the use of GEDmatch PRO in law enforcement and HID while maintaining the highest level of ethics, data privacy and security.
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QIGEN’s Recent Development
Last Thursday, QIAGEN launched 100 new assays for its digital polymerase chain reaction (dPCR) platform — QIAcuity. The assays will be used to study cancer, inherited genetic disorders, infectious disease surveillance, and food and environmental monitoring. These are available through QIAGEN’s comprehensive GeneGlobe platform.
Industry Prospects Favor QIAGEN
Per a Market and Markets report, the global human identification market is valued at $0.8 billion in 2024 and expected to reach $1.3 billion by 2029, at a compound annual growth rate of 10.7% during the period. The market growth is driven by primary factors, including rising awareness among investigators about DNA profiling in criminology, increasing crime rates and the establishment of forensic laboratories.
Looking at the market potential, the latest collaboration turns out to be in favor of QIAGEN.
QGEN’s Price Performance
In the past year, shares of QGEN have risen 10.2% compared with the industry’s 2.3% growth.
QGEN’s Zacks Rank and Key Picks
QGEN currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are TransMedics Group TMDX, AxoGen AXGN and OrthoPediatrics KIDS. While TransMedics sports a Zacks Rank #1 (Strong Buy) at present, AxoGen and OrthoPediatrics carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.
Estimates for TransMedics’ 2024 earnings per share (EPS) have moved up 2.5% to $1.23 in the past 30 days. Shares of the company have soared 198.3% in the past year compared with the industry’s 20.7% growth. TMDX’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 287.50%. In the last reported quarter, it delivered an earnings surprise of 66.67%.
Estimates for AxoGen’s 2024 loss per share have remained constant at 1 cent in the past 30 days. Shares of the company have surged 179.9% in the past year compared with the industry’s 20.7% growth. AXGN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 96.5%. In the last reported quarter, it delivered an earnings surprise of 200%.
Estimates for OrthoPediatrics’ 2024 loss per share have declined to 92 cents from 96 cents in the past 30 days. In the past year, shares of KIDS have lost 17.1% against the industry’s 20.8% growth. In the last reported quarter, KIDS delivered an earnings surprise of 25.81%. Its earnings surpassed estimates in each of the trailing four quarters, the average surprise being 26.81%.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
