SMALL CAP MOVERS: Abingdon Health and MyHealthChecked reap the benefits of the fight against Covid-19

SMALL CAP MOVERS: Abingdon Health and MyHealthChecked reap the benefits of the fight against Covid-19

Throughout the pandemic, any company involved in some sort of COVID-19 cure or precaution appeared to enjoy a share price appreciation and continues to do so, judging by Abingdon Health PLC’s share price performance.

The developer and manufacturer of rapid medical tests shot up 89 pc after it announced the launch of the BioSURE COVID-19 IgG antibody self-test.

Last month, Abingdon announced that it had signed an exclusive manufacturing agreement with BioSure, a UK company specializing in providing rapid in vitro diagnostic testing solutions, including self-testing. Abingdon said the BioSure product is now being manufactured.

Last month, Abingdon announced it had signed an exclusive manufacturing agreement with BioSure, a UK company specializing in providing rapid in vitro diagnostic testing solutions, including self-tests (Stock image)

Case two: MyHealthChecked PLC, the consumer home-testing healthcare company.

Shares rose 51 pc after it drew investors’ attention to a Ministry of Health and Social Care announcement that private COVID-19 testing companies will be removed from the GOV.UK list if they advertise misleading prices.

82 providers, accounting for about 18 pc. of the listed companies, have been identified as having lower prices on GOV.UK than are available on their website at checkout, noted MyHealthChecked.

It’s probably safe to assume that MyHealthChecked was not one of the culprits.

MyHealthChecked’s services are included as one of the suppliers on the Government List with ‘Fit to Fly’, ‘Test to Release’ and ‘Days 2 and 8’ testing.

The price increase of the share of Open Orphan PLC by 29 pc. was not related to COVID-19, but to respiratory problems.

The company’s hVIVO arm has won an £8.1 million contract with an undisclosed ‘major global pharmaceutical company’ to test an antiviral product using its human asthma challenge study model.

Open Orphan said this latest contract underlined its ‘increased international focus’ [on] and investments in respiratory and infectious diseases after the outbreak of COVID-19′.

So the company did manage to delete a mention of COVID-19 from its stock market statement after all, and who can blame them?

MyHealthChecked PLC, the company that conducts home health testing for consumers, saw its shares rise 51 pc after it drew investors' attention to an announcement by the Department of Health and Social Care that privately held COVID-19 testing companies from the GOV.UK- list will be removed if they advertise misleading prices (Stock Image)

MyHealthChecked PLC, the company that conducts home health testing for consumers, saw its shares rise 51 pc after it drew investors’ attention to an announcement by the Department of Health and Social Care that privately held COVID-19 testing companies from the GOV.UK- list will be removed if they advertise misleading prices (Stock Image)

“The pandemic has made it clear that very little has been invested in the infectious diseases and respiratory products sector over the past 30 years,” said company president Cathal Friel.

“As such, when the pandemic arrived, the world discovered that the medicine cabinet of infectious disease products to deal with COVID-19 was virtually empty,” he stated.

Away from the world of respiratory disease, MediaZest PLC, the creative audiovisual company, rose just over a third after a trading update.

The company said it continues to bring in additional new project work with strong adoption in the key verticals in which it operates.

Renold, the supplier of industrial chains and related power transmission products, did well again after a trade update.

The shares rose by 30 pc. up after the board of directors indicated that the strong momentum from the fourth quarter of last fiscal year continues into the new fiscal year, resulting in a continued recovery in both revenues and inbound orders.

Pantheon Resources PLC added about a fifth to its value after a webinar presentation in which it said it remains focused on finding a suitable partner to operate one or more of its projects on the Alaska North Slope.

Finally, the shareholders of mattress maker Eve Sleep PLC are likely to be sleeping a bit more after the company’s chief financial officer, Tim Parfitt, showed confidence in the company by buying 400,000 shares at 3,075pa pop.

Parfitt now owns just over a million shares in Eve Sleep, which is equivalent to 0.37 pc. of the issued share capital of the company.

Shares of Eve rose by 13 pc this week.

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