Analysts Expect SomaLogic, Inc. (NASDAQ:SLGC) Will Announce Quarterly Sales of $23.30 Million

Equities analysts expect that SomaLogic, Inc. (NASDAQ:SLGCGet Rating) will post $23.30 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for SomaLogic’s earnings. The lowest sales estimate is $23.00 million and the highest is $23.60 million. The company is scheduled to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that SomaLogic will report full-year sales of $106.20 million for the current year, with estimates ranging from $105.00 million to $107.40 million. For the next year, analysts forecast that the firm will post sales of $150.80 million, with estimates ranging from $145.00 million to $156.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow SomaLogic.

SomaLogic (NASDAQ:SLGCGet Rating) last posted its quarterly earnings results on Tuesday, March 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.01).

SLGC has been the subject of several research reports. Stifel Nicolaus initiated coverage on SomaLogic in a research report on Tuesday, February 1st. They set a “buy” rating and a $12.00 price objective for the company. Zacks Investment Research upgraded SomaLogic from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, initiated coverage on SomaLogic in a research report on Tuesday, December 14th. They set a “buy” rating and a $19.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, SomaLogic presently has a consensus rating of “Buy” and an average price target of $16.25.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wolverine Asset Management LLC purchased a new stake in shares of SomaLogic during the 4th quarter valued at $36,000. PNC Financial Services Group Inc. purchased a new stake in shares of SomaLogic during the 3rd quarter valued at $37,000. UBS Group AG purchased a new stake in shares of SomaLogic during the 3rd quarter valued at $58,000. Penserra Capital Management LLC purchased a new stake in shares of SomaLogic during the 4th quarter valued at $98,000. Finally, Citadel Advisors LLC purchased a new stake in shares of SomaLogic during the 3rd quarter valued at $129,000. Institutional investors own 44.55% of the company’s stock.

Shares of SLGC stock traded up $0.10 during midday trading on Wednesday, reaching $6.88. 1,257,626 shares of the company traded hands, compared to its average volume of 1,082,023. The firm’s 50 day simple moving average is $8.35 and its two-hundred day simple moving average is $10.26. SomaLogic has a 1-year low of $6.67 and a 1-year high of $14.72.

About SomaLogic (Get Rating)

SomaLogic, Inc operates as a protein biomarker discovery and clinical diagnostics company in the United States. It develops slow off-rate modified aptamers (SOMAmers), which are modified nucleic acid-based protein binding reagents that are specific for their cognate protein; and offers proprietary SomaScan services, which provide multiplex protein detection and quantification of protein levels in complex biological samples.

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