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ABI Shares Slide 5.5 Percent After Bank Downgrades Stock; Lackluster Organic Revenue Growth Cited

NEW YORK, May 24 (GenomeWeb News) - Shares in Applied Biosystems were down 5.48 percent, or $1.24, at $21.37 in late-afternoon trading today after an investment bank downgraded the stock.

 

UBS downgraded the stock to 'Reduce' from 'Neutral' this morning. The bank said that "given lackluster organic revenue growth, increasing competition, and our view that transforming M&A choices may be limited, we do not believe ABI shares should trade at a premium to the group multiple at this time," according to a Reuters report.

 

UBS stressed that ABI "remains an important brand name in the life sciences sector."

The Scan

J&J Booster Support

A US Food and Drug Administration advisory panel has voted to support a booster dose of Johnson & Johnson's SARS-CoV-2 vaccine, according to the Los Angeles Times.

To Keep the Cases Moving

The president of the UK Royal College of Pathologists tells the Financial Times that more investment is needed to tackle a backlog of cases.

NAS Expels Archaeologist

Science reports Luis Jaime Castillo Butters' expulsion is the first of an international member from the US National Academy of Sciences.

PLOS Papers on Angelman Syndrome-Like Cases, Salmonella Paratyphi A, SARS-CoV-2 in Brazil

In PLOS this week: exome sequencing analysis of Angelman syndrome-like cases, genetic epidemiology of Salmonella Paratyphi A, and more.