SomaLogic (NASDAQ:SLGC) Upgraded to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of SomaLogic (NASDAQ:SLGCGet Rating) from a sell rating to a hold rating in a research report released on Friday morning, 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 initiated coverage on SomaLogic in a research report on Tuesday, February 1st. They issued a buy rating and a $12.00 price objective for the company. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $16.00.

Shares of NASDAQ SLGC traded up $0.87 during mid-day trading on Friday, reaching $5.42. 3,438,336 shares of the company’s stock were exchanged, compared to its average volume of 1,224,961. SomaLogic has a 52 week low of $4.20 and a 52 week high of $14.72. The firm has a 50-day moving average price of $7.10 and a two-hundred day moving average price of $9.44.

SomaLogic (NASDAQ:SLGCGet Rating) last posted its quarterly earnings results on Tuesday, March 29th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). Research analysts expect that SomaLogic will post -0.69 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of SLGC. Sargent Bickham Lagudis LLC purchased a new position in SomaLogic in the first quarter worth approximately $34,000. Wolverine Asset Management LLC purchased a new position in shares of SomaLogic during the fourth quarter worth $36,000. PNC Financial Services Group Inc. purchased a new position in shares of SomaLogic during the third quarter worth $37,000. UBS Group AG purchased a new position in shares of SomaLogic during the third quarter worth $58,000. Finally, Penserra Capital Management LLC purchased a new position in shares of SomaLogic during the fourth quarter worth $98,000. Institutional investors own 58.65% of the company’s stock.

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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