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Bio-Techne Corporation (TECH), headquartered in Minneapolis, Minnesota, develops, manufactures, and sells life science reagents, instruments, and services for the research, diagnostics, and bioprocessing markets. Valued at $8.3 billion by market cap, the company specializes in proteins, cytokines, growth factors, immunoassays and small molecules.
Companies worth $2 billion or more are generally described as “mid-cap stocks,” and TECH perfectly fits that description, with its market cap exceeding this mark, underscoring its size, influence, and dominance within the biotechnology industry. TECH's commitment to innovation, strategic acquisitions, and global presence positions it for continued success. With a strong domestic foothold and opportunities for international expansion, TECH is well-positioned to maintain its market share and drive growth.
Despite its notable strength, TECH slipped 34.5% from its 52-week high of $80.80, achieved on Nov. 6, 2024. Over the past three months, TECH stock gained 7.3%, underperforming the Dow Jones Industrials Average’s ($DOWI) 8.7% gains during the same time frame.
In the longer term, shares of TECH dipped 26.5% on a YTD basis and fell 31.5% over the past 52 weeks, significantly underperforming DOWI’s YTD gains of 8.8% and 9.9% returns over the last year.
To confirm the bearish trend, TECH has been trading below its 200-day moving average since early February. The stock has been trading below its 50-day moving average since early September, with a minor fluctuation.
On Aug. 6, TECH shares closed down by 8.7% after reporting its Q4 results. Its adjusted EPS of $0.53 surpassed Wall Street expectations of $0.50. The company’s revenue was $317 million, exceeding Wall Street forecasts of $315.4 million.
In the competitive arena of biotechnology, Adaptive Biotechnologies Corporation (ADPT) has massively taken the lead over TECH, showing resilience with 132.4% gains on a YTD basis and 227% returns over the past 52 weeks.
Wall Street analysts are reasonably bullish on TECH’s prospects. The stock has a consensus “Moderate Buy” rating from the 17 analysts covering it, and the mean price target of $66.50 suggests an ambitious potential upside of 25.7% from current price levels.
