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Can the Novacyt (NCYT) share price make a comeback?

first_imgCan the Novacyt (NCYT) share price make a comeback? Simply click below to discover how you can take advantage of this. 2021 has not been kind to the Novacyt (LSE:NCYT) share price. Despite rising from 14p at the start of 2020, all the way to 852p by the end of the year, it has since collapsed to around 350p today. While the stock price has still increased by over 50% over the past 12 months, it’s firmly below its 2020 end-of-year high. But is that about to change? Let’s take a look. One FTSE “Snowball Stock” With Runaway Revenues For now, I’d much rather invest in this: Image source: Getty Images The volatile Novacyt share priceI’ve previously explored this business. But as a quick reminder, Novacyt is a medical diagnostics firm that develops and sells pathogen testing kits for the medical, biotech, and food sectors.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…When Covid-19 reared its head, the firm’s management team quickly switched its focus to creating a rapid testing kit to help track the spread of the virus. This move turned out to be an excellent decision. Novacyt became the first company to bring a Covid-19 testing kit to the market – enjoying a temporary mini-monopoly in the process. In fact, this is precisely why the NCYT share price exploded last year.Unfortunately, this upward momentum quickly reversed. A rising tide of uncertainty started brewing among investors regarding how this business would function in a post-pandemic world. Novacyt does have an extensive portfolio of non-Covid-related products. But the level of sales doesn’t come close.Then in April this year, the worst happened. In a single decision by the Department of Health & Social Care (DHSC), the supply contract between it and Novacyt was terminated – eliminating around half of Novacyt’s Covid-19 testing kit revenue in the process. This devastating blow to the business saw the NCYT share price crash by around 40% within 24 hours.New revenue on the horizonThe loss of the DHSC contract is disappointing. And while the management team is pursuing legal action to reinstate the agreement, I’m sceptical of the matter being resolved any time soon. But this ultimately may not matter.Why? Because at the start of June, the company announced it had just launched two new Covid-19 testing kits – one of which has piqued my interest and may be able to propel the NCYT share price once again. The first is a three-gene assay test that allows the business to expand its reach into the travel market since it can be used to quickly verify fit-to-fly certificates. The second is more complex. It is the first single testing kit brought to market that can identify the Indian, South African, and Brazilian variants of Covid-19.In 2020, Novacyt proved the power of being first, especially when it comes to products in exceptionally high demand. These latest product launches might be sufficient to recover the lost DHSC revenue by expanding its existing pool of private clients, and may even lead to new public sector supply contracts.The bottom lineThe progress made this year by the management team is encouraging. At least, I think so. And if these latest products prove to be as lucrative as the business hopes, the NCYT share price could be on the verge of making an explosive comeback.Having said that, there remain a lot of unknowns. The good news might come to nothing and at this stage, all I can do is speculate. Therefore, Novacyt is staying on my watch list until more information is available. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. Zaven Boyrazian | Tuesday, 15th June, 2021 | More on: NCYT center_img Enter Your Email Address Grab your free report – while it’s online. Looking for new share ideas?Grab this FREE report now.Inside, you discover one FTSE company with a runaway snowball of profits.From 2015-2019…Revenues increased 38.6%.Its net income went up 19.7 times!Since 2012, revenues from regular users have almost DOUBLEDThe opportunity here really is astounding.In fact, one of its own board members recently snapped up 25,000 shares using their own money… So why sit on the side lines a minute longer?You could have the full details on this company right now. Zaven Boyrazian does not own shares in Novacyt. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Our 6 ‘Best Buys Now’ Shares I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. See all posts by Zaven Boyrazianlast_img read more

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