Novacyt’s share price has continued to climb today adding more than 15 percent to give it a m. cap of around £610m – putting it well within the echelons of the FTSE 250 by value.
With the share price of Novacyt touching 900p, AIM-listed diagnostics Novacyt is now worth some of the FTSE’s household names and former FTSE 100 fallen giants.
This means its m. cap is comfortably ahead of big names such as:
- Mitchells & Butlers
- Morgan Sindall
It is also worth £350m more than the FTSE 250’s lowest ranked constituent.
Should it continue its consistent daily rise in its share price, Novacyt’s vision of becoming a mid-cap company is looking closer than ever.
A little over a week ago, we tipped the Novacyt share price for plenty more upside while it was at 550p. With shares hitting nearly 900p today – that’s a paper gain of over 60% from a stock with sustainable and visible earnings.
And with demand for COVID-19 testing notably on the rise and the dreaded flu season approaching (Novacyt’s Winterplex test panel differentiates between COVID and flu), it seems like this one will continue to go north for a little while yet.