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AIM round-up: Novacyt, Eden Research, Eve Sleep

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As with wider UK equities, the mood was somewhat downbeat for the AIM market this morning and even a late rally as Wall Street kicked off the day in better than expected shape proved insufficient to shift sentiment. The junior index closed down more than five points at 828.34.

  • Novacyt +24%
  • Eden Research +23%
  • Eve Sleep +19%
  • Music Magpie -68%
  • Biome Technology -32%

Novacyt [LON:NCYT] topped the board today, up 24% at the bell. There’s no news out but the company is slated to release interims towards the end of the week and there’s also a potentially lucrative ongoing dispute with DHSC and if that ends up being settled in court the outcome could have a material impact.

Eden Research LON:EDEN added 23% off the news it has been granted EPA regulatory approval in the US for its pesticides, a move which is said to open up significant revenue opportunities for the company. Trade was however thin and the move was within the spread being quoted at the close.

A notable mention for Eve Sleep LON:EVE. The stock was rattled a couple of weeks back off the release of disappointing earnings but with at least one heavyweight investor seeing value down at these levels, the share price has now fully recovered those recent losses. Sustaining the move however may prove difficult unless this is being taken as a signal that a buyer may be waiting to take up the entire business…

Music Magpie LON:MMAG was the day’s worst performer, off 69% after an update this morning brough about a profit warning. Critically, despite the company’s market positioning, there’s a lack of confidence over the outlook, even though headwinds faced by consumers could bode well for those involved in refurbishing consumer goods. Volumes were however significantly elevated and buying demand has been seen. Could bargain hunters win out here?]

Biome Technology [LON: BIOM] was in second to last place at the close, down 32% and extending losses in the wake of last week’s interim results to almost 75%. Bargain hunters seem to be in short supply even at these levels, but those downgrades to revenues have clearly left many rattled.

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This article does not constitute investment advice. Make sure you do your own research or consult a professional advisor.

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