Zacks: Analysts Expect SomaLogic, Inc. (NASDAQ:SLGC) Will Announce Quarterly Sales of $25.55 Million

Equities research analysts forecast that SomaLogic, Inc. (NASDAQ:SLGC – Get Rating) will report sales of $25.55 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for SomaLogic’s earnings, with estimates ranging from $25.40 million to $25.70 million. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that SomaLogic will report full year sales of $106.10 million for the current fiscal year, with estimates ranging from $105.00 million to $107.20 million. For the next fiscal year, analysts forecast that the firm will report sales of $150.40 million, with estimates ranging from $145.00 million to $155.80 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover SomaLogic.

SomaLogic (NASDAQ:SLGC – Get Rating) last issued its 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).

A number of research analysts have issued reports on the company. Canaccord Genuity Group cut their price objective on SomaLogic from $19.00 to $15.00 in a report on Friday, May 13th. Stifel Nicolaus assumed coverage on SomaLogic in a research note on Tuesday, February 1st. They issued a “buy” rating and a $12.00 target price for the company. Finally, Zacks Investment Research upgraded SomaLogic from a “sell” rating to a “hold” rating in a research note on Friday, May 13th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $16.00.

Shares of NASDAQ SLGC opened at $5.41 on Wednesday. The business has a fifty day moving average of $6.99 and a two-hundred day moving average of $9.32. SomaLogic has a 52-week low of $4.20 and a 52-week high of $14.72.

Hedge funds have recently made changes to their positions in the stock. Sargent Bickham Lagudis LLC acquired a new stake in SomaLogic in the first quarter worth about $34,000. Wolverine Asset Management LLC acquired a new stake in SomaLogic in the fourth quarter worth about $36,000. PNC Financial Services Group Inc. acquired a new position in shares of SomaLogic during the 3rd quarter worth about $37,000. Quantbot Technologies LP grew its position in shares of SomaLogic by 24,040.9% during the 1st quarter. Quantbot Technologies LP now owns 5,311 shares of the company’s stock worth $42,000 after buying an additional 5,289 shares during the period. Finally, UBS Group AG acquired a new position in shares of SomaLogic during the 3rd quarter worth about $58,000. Hedge funds and other institutional investors own 58.65% of the company’s stock.

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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