SomaLogic (NASDAQ:SLGC) Downgraded by Zacks Investment Research

SomaLogic (NASDAQ:SLGCGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “SomaLogic Inc. provides AI-data driven proteomics technology. SomaLogic Inc., formerly known as CM Life Sciences II Inc., is based in NEW YORK. “

Separately, Stifel Nicolaus assumed coverage on shares of SomaLogic in a report on Tuesday, February 1st. They issued a “buy” rating and a $12.00 target price for the company. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $16.25.

Shares of SomaLogic stock opened at $6.85 on Wednesday. SomaLogic has a 1 year low of $6.46 and a 1 year high of $14.72. The firm’s 50-day moving average is $8.15 and its two-hundred day moving average is $10.10.

SomaLogic (NASDAQ:SLGCGet Rating) last issued its quarterly earnings data on Tuesday, March 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.01). As a group, equities research analysts forecast that SomaLogic will post -0.69 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in SLGC. Wolverine Asset Management LLC acquired a new stake in SomaLogic in the fourth quarter worth about $36,000. PNC Financial Services Group Inc. purchased a new stake in SomaLogic during the 3rd quarter worth approximately $37,000. UBS Group AG acquired a new position in SomaLogic during the 3rd quarter valued at approximately $58,000. Penserra Capital Management LLC purchased a new position in shares of SomaLogic in the fourth quarter worth $98,000. Finally, Citadel Advisors LLC purchased a new position in SomaLogic in the 3rd quarter worth $129,000. 44.55% of the stock is currently owned by institutional investors.

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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