Ally Bridge Group NY LLC Has $5.90 Million Holdings in SomaLogic, Inc. (NASDAQ:SLGC)

Ally Bridge Group NY LLC decreased its holdings in shares of SomaLogic, Inc. (NASDAQ:SLGCGet Rating) by 8.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 735,000 shares of the company’s stock after selling 65,000 shares during the quarter. SomaLogic makes up about 4.4% of Ally Bridge Group NY LLC’s portfolio, making the stock its 10th largest position. Ally Bridge Group NY LLC’s holdings in SomaLogic were worth $5,895,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SLGC. Sargent Bickham Lagudis LLC bought a new stake in SomaLogic during the 1st quarter valued at approximately $34,000. Wolverine Asset Management LLC bought a new stake in SomaLogic during the 4th quarter valued at approximately $36,000. CTC Capital Management LLC bought a new stake in shares of SomaLogic in the 1st quarter worth approximately $112,000. Sciencast Management LP bought a new stake in shares of SomaLogic in the 1st quarter worth approximately $134,000. Finally, HighTower Advisors LLC bought a new stake in shares of SomaLogic in the 4th quarter worth approximately $170,000. Institutional investors own 59.29% of the company’s stock.

SomaLogic Trading Up 2.6 %

Shares of SLGC opened at $3.98 on Friday. SomaLogic, Inc. has a 1 year low of $3.44 and a 1 year high of $14.72. The stock has a 50 day simple moving average of $4.46 and a 200-day simple moving average of $5.86. The stock has a market cap of $730.14 million, a PE ratio of -4.80 and a beta of 1.53.

Analyst Upgrades and Downgrades

A number of analysts have commented on SLGC shares. Cowen reduced their price objective on SomaLogic from $11.00 to $9.00 and set an “outperform” rating for the company in a research report on Tuesday, August 16th. Canaccord Genuity Group reduced their price objective on SomaLogic from $19.00 to $15.00 in a research report on Friday, May 13th. Finally, Cowen reduced their price objective on SomaLogic from $11.00 to $9.00 in a research report on Tuesday, August 16th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $13.33.

SomaLogic Profile

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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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Institutional Ownership by Quarter for SomaLogic (NASDAQ:SLGC)

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