Movement Alert｜GenScript Biotech Rises 5.34% in Regular Trading, Technical Recovery After Legend Biotech-Driven Selloff

Market Focus06-24 09:43

On June 24, GenScript Biotech rose 5.34% in regular trading, trading at HK$11.62/share, with turnover of HK$43.60 million.

On the news front, the stock is exhibiting a technical recovery following a sharp decline of over 8% on June 22, when associate company Legend Biotech experienced a significant sell-off on US markets. The previous drop had pushed the share price to around HK$10.76, creating conditions for a rebound.

The broader life sciences sector also recovered on the same day, with WuXi AppTec up 4.13%, WuXi Biologics up 3.79%, and WuXi XDC up 6.73%, providing additional sector-level support for the price recovery. Earlier in June, Legend Biotech had presented positive Phase I clinical proof-of-concept data for its in vivo CD19/CD20 dual-target CAR-T therapy LB2501 at the European Hematology Association annual meeting, which may underpin medium-term sentiment.

GenScript Biotech is a Hong Kong-listed investment holding company primarily engaged in the manufacture and sale of life science research products and services. Its cell therapy segment develops CAR-T therapies through associate company Legend Biotech, operating in both China and overseas markets.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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