Shares of genetic data miner 23andMe Holding (NASDAQ: ME) had surged 16% as of 12:15 p.m. EDT trading Friday after the stock received a positive mention on CNBC last night.
As StreetInsider.com reports today, EMJ Capital founder Eric Jackson called 23andMe a "top pick" both for its subscription business (whereby customers sign up to receive genealogical data and periodic health research updates) and its therapeutics business (whereby 23andMe collaborates with drug companies to develop drugs based on the genetic data it collects).
This latter business, said Jackson, "is uniquely differentiated" from run-of-the-mill drug developers, and gives 23andMe and its partners "a platform that enables novel discoveries into the causes and potential treatments of a wide variety of diseases at unprecedented statistical power." 23andMe's database, with more than 11 million customer samples and 1 trillion genotypic and phenotypic data points, gives the company and its partners "a core competitive advantage that is not easily replicated," Jackson said.
For further details see:
Why 23andMe Stock Jumped 16% Today