SomaLogic (NASDAQ:SLGC) PT Lowered to $15.00 at Canaccord Genuity Group

SomaLogic (NASDAQ:SLGC – Get Rating) had its price target decreased by Canaccord Genuity Group from $19.00 to $15.00 in a report released on Friday morning, The Fly reports.

Several other research firms have also recently commented on SLGC. Zacks Investment Research raised shares of SomaLogic from a sell rating to a hold rating in a research note on Friday. Stifel Nicolaus started coverage on shares of SomaLogic in a research note on Tuesday, February 1st. They set a buy rating and a $12.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, SomaLogic currently has a consensus rating of Buy and an average target price of $16.00.

Shares of NASDAQ SLGC traded up $0.87 during mid-day trading on Friday, hitting $5.42. 3,438,336 shares of the stock were exchanged, compared to its average volume of 1,224,961. The stock’s fifty day simple moving average is $7.10 and its two-hundred day simple moving average is $9.44. SomaLogic has a twelve month low of $4.20 and a twelve month high of $14.72.

SomaLogic (NASDAQ:SLGC – Get Rating) last posted its quarterly earnings data on Tuesday, March 29th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). On average, analysts forecast that SomaLogic will post -0.69 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the business. Foresite Capital Management V LLC bought a new position in SomaLogic in the third quarter valued at approximately $65,995,000. Magnetar Financial LLC bought a new position in SomaLogic in the third quarter valued at approximately $6,687,000. Jefferies Group LLC bought a new position in SomaLogic in the third quarter valued at approximately $805,000. Nikko Asset Management Americas Inc. boosted its stake in SomaLogic by 523.1% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 1,052,375 shares of the company’s stock valued at $12,218,000 after acquiring an additional 883,494 shares during the last quarter. Finally, Bleichroeder LP bought a new position in SomaLogic in the third quarter valued at approximately $869,000. 58.65% of the stock is currently owned by hedge funds and other institutional investors.

SomaLogic Company Profile (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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