Cue Health rises as Cowen begins coverage with 'outperform'

Cue Health

19/10/2021 11:02

** Shares of health-tech firm  HLTH.O  up 1% at $10.5
premarket after Cowen starts with "outperform" and PT of $14
    ** HLTH offers an innovative testing system that provides a
consumer electronic device with the potential to disrupt the
existing diagnostic testing market - Cowen analyst Charles Rhyee
    ** Says given that HLTH's COVID-19 tests are reusable and
universally compatible, brokerage sees the scale of its
installed base likely to play a crucial role in the adoption of
its other non-COVID tests
    ** The home diagnostic testing market could see swift
adoption, similar to the adoption of remote patient monitoring
devices, as the emphasis on virtual care and home health
continues to grow - Rhee 
    ** Up to Monday's close, stock down 50.3% since its IPO on
Sept. 24 

 (Reporting by Dania Nadeem in Bengaluru)