LHDX - Lucira Health surges to reach a near three-month high

JuSun/iStock via Getty Images Lucira Health ([[LHDX]] +32.1%) has added more than a third of its value today as the shares of the med-tech firm focused on infectious disease test kits are set to reach their highest level since mid-April. As shown in the graph, the company has lost more than 60% of its value since the IPO in February. The scale of demand for the public debut prompted Lucira to upsize the IPO, making 9M shares on offer for $153M in gross proceeds. In March, Bank of America initiated its coverage of Lucira with a neutral recommendation noting, among other things, the long-term viability of the market for COVID-19 tests. However, the company’s Q1 2021 revenue figures came ahead of expectations, thanks mainly to test kits sales to healthcare networks and physicians.

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Lucira Health surges to reach a near three-month high