Valued at a market cap of $9.3 billion, Bio-Techne Corporation (TECH) is a global life sciences company providing tools and bioactive reagents for the research and clinical diagnostic communities. Based in Minneapolis, Minnesota, the company operates through Protein Sciences and Diagnostics & Genomics segments.

Companies worth between $2 billion to $10 billion are generally classified as “mid-cap stocks," and Bio-Techne fits this criterion perfectly. The company aids in drug discovery efforts and provides the means for accurate clinical tests and diagnoses with thousands of products in its portfolio.

Bio-Techne's stock prices have fallen 31.5% from its 52-week high of $85.57 touched on May 15, 2024. In the last three months, shares of Bio-Techne have slipped 19.7%, notably lagging behind the S&P 500 Index’s ($SPX) 6% decrease.

On a YTD basis, shares of TECH have dropped 18.6%, compared to SPX’s 4.6% decline during the same period. In addition, over the last 52 weeks, TECH crumbled 16.7%, underperforming the S&P 500’s 6.8% return.

To confirm the recent downturn, TECH stock has traded consistently below its 50-day and 200-day moving averages since early February.

TECH shares surged over 3.7% after surpassing Wall Street forecasts with its Q2 2025 earnings on Feb. 5, reporting $297 million in revenue and an adjusted EPS of $0.42. Improving biopharma end-market conditions, along with strong demand for cell and gene therapy workflow solutions drove growth of 7% year-over-year in the Protein Sciences Segment to $211.6 million. Meanwhile, solid commercial execution in Diagnostics & Spatial Biology resulted in 12% organic and reported growth for the segment.

Further, in comparison, peer Adaptive Biotechnologies Corporation (ADPT) has outpaced TECH. On a YTD basis, the stock gained 23.9%. Also, shares of ADPT advanced 131.5% over the past 52 weeks.

Despite TECH’s underperformance compared to the broader market over the past year, analysts are bullish about its prospects. The stock has a consensus rating of “Strong Buy” from the 14 analysts covering it. Its mean price target of $83.61 suggests a staggering 42.6% upside potential from current price levels.