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Complete Genomics' Stock Rebounds as Genomics Firms See Mixed February

NEW YORK (GenomeWeb News) – Shares of Complete Genomics rose 26 percent in February driven by an announcement that it had been selected by the Mayo Clinic's Center for Individualized Medicine to provide outsourced whole genome sequencing.

The firm was the top gainer for February among the 31 stocks in the GenomeWeb Daily News Index. Other firms that saw double-digit increases for the month included Nanosphere (+16 percent), Luminex (+14 percent), Bruker (+13 percent), and PerkinElmer (+13 percent). All four firms reported strong fourth-quarter results during the month.

Overall, the GWDN Index was up nearly 2 percent for February, which followed a 15 percent increase for the Index in January. Genomics and molecular diagnostics stocks have continued to rebound after a difficult second half of 2011.

Affymetrix and Rosetta Genomics led the decliners for the month, with each falling 13 percent, followed by Vermillion (-12 percent), and GenMark Diagnostics (-11 percent).

Early in the month, Affy reported a 23 percent decline in Q4 revenues and missed Wall Street's consensus estimates on the top and bottom lines. In addition, concerns remain that Affy may not complete its proposed $330 million acquisition of eBioscience.

The 2 percent increase for the GWDN Index compares to a nearly 3 percent rise in the Dow Jones Industrial Average, a 5 percent increase for the Nasdaq, and a nearly 3 percent increase for the Nasdaq Biotech Index.

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