It is really hard to accurately value a recently IPO'd company....

It is really hard to accurately value a recently IPO'd company. There is just not enough data for the algorithms to value it correctly. Certainly their current valuation is no where close to $30/per share. I usually don't get in to newly public listed companies. But they had 3 profit upgrades in 3 months of trading and management looks solid. Even after covid, once their regular business get back to pre-covid level, there will be plenty of opportunity to grow which will include covid testing as well. Covid is going nowhere at in foreseeable future. But at the moment, market seems to disagree and the overall negative sentiment on macro level is not helping either. My only concern is the high level of debt, which they are planning to pay out with the capital raised from ipo. I will hold on to this one for a while and will wait for the half yearly report to reassess my investment decision.