Sequenom (SQNM:Nasdaq) gains 20% on Down’s Syndrome discovery

Posted June 4, 2008

Baltimore — (TFN): Shares of biotech smallcap Sequenom, Inc. (Nasdaq:SQNM) soared over 20% in morning trading after the genetics and molecular diagnostic company reported that its nucleic acid technology is able to detect Down’s syndrome in pregnant women.

Sequenom, Inc. is a San Diego-based genetics and molecular diagnostic company that provides genetic analysis products/services and develops diagnostic tests initially targeted at non-invasive prenatal genetic disorders.

The stock currently trades just below $10, up over 100% from its March 2008 low of $4.25, but still comfortably below its 52-week high of $11.63.

Momentum traders should buy this stock in view of the media dissemination chain of positive news, which should keep the company in the news for at least until the weekend. Buy at current levels below $9.50, with a 20-25% profit short-to-medium-term profit target.

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