25 May 2012

NextGen thunders forward

09/02/2011 Ben Jaglom

AIM biotech minnow NextGen Group (NGG) has seen its shares rocket by over two hundred per cent this morning amidst investor excitement over the possibilities for the sector.

Nextgen, which specialises in biomarket discovery and assay development, saw its shares rocket on the same day that sector peers Sareum and Physiomics saw similarly huge rises in their share price.

Following the immense rise Klaus Rosenau, the chairman and chief executive officer of the tiny company released a statement in which he declared that the board 'not aware of any reason for the price rise.'

The huge rise in the share price seems to be due to the re-rating that is taking place across the biotech sector on AIM, with investors looking to top up on in a sector that has traditionally disappointed for the last few years, with shares trading at tiny amounts suddenly appearing as huge bargains to private investors keen to profit from the wave of excitement surrounding companies such as Angel Biotechnology Holdings (ABH), Physiomics (PYC), Sareum (SAR) and now NextGen Group.

While we are of course pleased to see a resurgence in the sector, we would advise investor caution as in some cases the price rises seemed to be fuelled by bulletin board speculation and a herd mentality as much as by fundamental changes to the companies prospects.

Tags: Bulletin board, Nextgen group, Sareum Holdings

Sector: Pharmaceuticals & Biotechnology

Companies: NextGen

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