Redeye retains its fundamentally positive stance on Genovis following Q3 results. The financial progression appears more than reasonable in the current circumstances – organic growth of 18% and operating profits comfortably back in the black – though renewed corona challenges are unhelpful for marketing and (new) sales activities. While rallying yesterday, however, the shares have suffered a setback in the past month and at current levels we find the risk/reward in the case favourable, particularly in a long term perspective