Genetron Partners With World Economic Forum; Shares Tank 9%

Genetron Holdings Limited (GTH), one of the leading players in precision oncology in China, recently announced that it has entered into a partnership with the World Economic Forum (WEF). Under the partnership, Genetron will work for the Health and Healthcare Platform of the WEF.

Following the news release, shares of the company declined 8.6% to close at $18.55 in Friday’s trading session.

As a partner, Genetron will provide its technologies, industry expertise and insights to the WEF. The aim of the partnership is to ensure worldwide equal access to the highest standards of health and healthcare.

CEO of Genetron Sizhen Wang said, “As an international organization that is well-recognized for its efforts to promote public-private cooperation, the WEF has made a strong impact on the world’s healthcare sector. We are pleased to announce this new partnership with the WEF.” (See Genetron stock chart on TipRanks)

The stock has a Moderate Buy consensus rating based on 1 Buy. Last month, BTIG analyst Sung Ji Nam assigned a Buy rating to the stock with a price target of $25 (34.8% upside potential).

Shares of the company have gained 34.3% over the past year.

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