Get in on SomaLogic Inc.’s (SLGC) buy-in window today!

SomaLogic Inc. (NASDAQ: SLGC) stock jumped 3.11% on Friday to $4.97 against a previous-day closing price of $4.82. With 1.34 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.74 million shares. During the session, the Health Information Services company that operates in wider Healthcare sector, reached to the highest price of $5.0800 whereas the lowest price it dropped to was $4.8850. The 52-week range on SLGC shows that it touched its highest point at $14.72 and its lowest point at $4.20 during that stretch. It currently has a 1-year price target of $12.25.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SLGC was down-trending over the past week, with a drop of -3.50%, but this was up by 8.52% over a month. Three-month performance dropped to -25.93% while six-month performance fell -45.08%. The stock lost -57.67% in the past year, while it has lost -57.30% so far this year. A look at the trailing 12-month EPS for SLGC yields -0.45 with Next year EPS estimates of -0.71. For the next quarter, that number is -0.18. This implies an EPS growth rate of -64.80% for this year and -1.50% for next year.

Float and Shares Shorts:

At present, 182.05 million SLGC shares are outstanding with a float of 157.29 million shares on hand for trading. On Jul 14, 2022, short shares totaled 12.13 million, which was 6.66% higher than short shares on Jun 14, 2022. In addition to Dr. Roy Smythe M.D. as the firm’s CEO & Director, Ms. Melody Harris Esq., J.D. serves as its Pres & COO.

Institutional Ownership:

Through their ownership of 60.34% of SLGC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 27.91% of SLGC, in contrast to 18.56% held by mutual funds. Shares owned by individuals account for 1.41%. As the largest shareholder in SLGC with 6.80% of the stake, Casdin Capital LLC holds 12,389,082 shares worth 12,389,082. A second-largest stockholder of SLGC, The Vanguard Group, Inc., holds 6,419,917 shares, controlling over 3.52% of the firm’s shares. T. Rowe Price Associates, Inc. is the third largest shareholder in SLGC, holding 5,837,014 shares or 3.20% stake. With a 4.86% stake in SLGC, the ARK Genomic Revolution ETF is the largest stakeholder. A total of 8,850,058 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.22% of SLGC stock, is the second-largest Mutual Fund holder. It holds 4,037,666 shares valued at 18.25 million. iShares Russell 2000 ETF holds 1.82% of the stake in SLGC, owning 3,321,221 shares worth 15.01 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SLGC since 4 analysts follow the stock currently. There are 4 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SLGC analysts setting a high price target of $12.00 and a low target of $11.00, the average target price over the next 12 months is $11.50. Based on these targets, SLGC could surge 141.45% to reach the target high and rise by 121.33% to reach the target low. Reaching the average price target will result in a growth of 131.39% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. SLGC will report FY 2022 earnings on 03/28/2023. Analysts have provided yearly estimates in a range of -$0.48 being high and -$0.77 being low. For SLGC, this leads to a yearly average estimate of -$0.60. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. SomaLogic Inc. surprised analysts by $0.13 when it reported -$0.02 EPS against a consensus estimate of -$0.15. The surprise factor in the prior quarter was -$0.04. Based on analyst estimates, the high estimate for the next quarter is -$0.10 and the low estimate is -$0.21. The average estimate for the next quarter is thus -$0.16.

Summary of Insider Activity:

Insiders traded SLGC stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 28 while that of sell transactions has remained unmoved to 0 over the past year. The total number of shares bought during that period was 7,612,765 while 0 shares were sold.

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