Bio-Techne Corp (TECH)
Bio-Techne Corporation develops, manufactures, and sells life science reagents, instruments, and services for the global clinical diagnostic and research markets. The company is headquartered in Minneapolis, Minnesota.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is decreasing.
- The decline rate of the primary trend is 18.59% per annum.
- TECH price at the close of April 17, 2025 was $48.10 and was inside the primary price channel.
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 6.06% per annum.
- TECH price at the close of April 17, 2025 was lower than the bottom border of the secondary price channel by $9.82 (16.96%).
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of TECH price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: April 13, 2021
End date: April 30, 2024
a = 4.9788
b = -0.0006
s = 0.0982
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0006) – 1
= -18.59%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0982) – 1
= 48.09%
April 13, 2021 calculations
Top border of price channel:
Exp(Y247)
= Exp(a + b × X247 + 2 × s)
= Exp(a + b × 358 + 2 × s)
= Exp(4.9788 + -0.0006 × 358 + 2 × 0.0982)
= Exp(4.9734)
= $144.51
Bottom border of price channel:
Exp(Y247)
= Exp(a + b × X247 – 2 × s)
= Exp(a + b × 358 – 2 × s)
= Exp(4.9788 + -0.0006 × 358 – 2 × 0.0982)
= Exp(4.5807)
= $97.58
April 30, 2024 calculations
Top border of price channel:
Exp(Y1,014)
= Exp(a + b × X1,014 + 2 × s)
= Exp(a + b × 1,471 + 2 × s)
= Exp(4.9788 + -0.0006 × 1,471 + 2 × 0.0982)
= Exp(4.3462)
= $77.18
Bottom border of price channel:
Exp(Y1,014)
= Exp(a + b × X1,014 – 2 × s)
= Exp(a + b × 1,471 – 2 × s)
= Exp(4.9788 + -0.0006 × 1,471 – 2 × 0.0982)
= Exp(3.9536)
= $52.12
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 18.59% per annum.
- TECH price at the close of April 17, 2025 was $48.10 and was inside the primary price channel.
Secondary Trend
Start date: May 6, 2022
End date: February 26, 2025
a = 4.5418
b = -0.0002
s = 0.0853
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0002) – 1
= -6.06%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0853) – 1
= 40.66%
May 6, 2022 calculations
Top border of price channel:
Exp(Y517)
= Exp(a + b × X517 + 2 × s)
= Exp(a + b × 746 + 2 × s)
= Exp(4.5418 + -0.0002 × 746 + 2 × 0.0853)
= Exp(4.5846)
= $97.97
Bottom border of price channel:
Exp(Y517)
= Exp(a + b × X517 – 2 × s)
= Exp(a + b × 746 – 2 × s)
= Exp(4.5418 + -0.0002 × 746 – 2 × 0.0853)
= Exp(4.2435)
= $69.65
February 26, 2025 calculations
Top border of price channel:
Exp(Y1,220)
= Exp(a + b × X1,220 + 2 × s)
= Exp(a + b × 1,773 + 2 × s)
= Exp(4.5418 + -0.0002 × 1,773 + 2 × 0.0853)
= Exp(4.4088)
= $82.17
Bottom border of price channel:
Exp(Y1,220)
= Exp(a + b × X1,220 – 2 × s)
= Exp(a + b × 1,773 – 2 × s)
= Exp(4.5418 + -0.0002 × 1,773 – 2 × 0.0853)
= Exp(4.0677)
= $58.42
Description
- The secondary trend is decreasing.
- The decline rate of the secondary trend is 6.06% per annum.
- TECH price at the close of April 17, 2025 was lower than the bottom border of the secondary price channel by $9.82 (16.96%).