SomaLogic (NASDAQ:SLGC) Raised to “Hold” at Zacks Investment Research

SomaLogic (NASDAQ:SLGCGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, 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 began coverage on SomaLogic in a report on Tuesday, February 1st. They issued a “buy” rating and a $12.00 target price on the stock. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $16.25.

Shares of SLGC opened at $6.50 on Friday. SomaLogic has a fifty-two week low of $6.29 and a fifty-two week high of $14.72. The business’s 50-day moving average is $7.53 and its 200-day moving average is $9.71.

SomaLogic (NASDAQ:SLGCGet Rating) last issued its earnings results on Tuesday, March 29th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). On average, sell-side analysts expect that SomaLogic will post -0.69 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in the business. Cinctive Capital Management LP boosted its position in SomaLogic by 1.8% during the fourth quarter. Cinctive Capital Management LP now owns 154,758 shares of the company’s stock worth $1,801,000 after purchasing an additional 2,690 shares during the period. PNC Financial Services Group Inc. bought a new stake in shares of SomaLogic in the third quarter valued at approximately $37,000. Wolverine Asset Management LLC bought a new stake in shares of SomaLogic in the fourth quarter valued at approximately $36,000. Samlyn Capital LLC boosted its position in shares of SomaLogic by 1.0% in the fourth quarter. Samlyn Capital LLC now owns 381,070 shares of the company’s stock valued at $4,436,000 after acquiring an additional 3,815 shares during the period. Finally, Sargent Bickham Lagudis LLC bought a new stake in shares of SomaLogic in the first quarter valued at approximately $34,000. 58.65% of the stock is owned by hedge funds and other 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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