SomaLogic Inc (NASDAQ: SLGC) stock jumped 1.62% on Friday to $2.51 against a previous-day closing price of $2.47. With 0.95 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.49 million shares. During the session, the Health Information Services company that operates in wider Healthcare sector, reached to the highest price of $2.5250 whereas the lowest price it dropped to was $2.4400. The 52-week range on SLGC shows that it touched its highest point at $3.79 and its lowest point at $1.73 during that stretch. It currently has a 1-year price target of $4.70. Beta for the stock currently stands at 1.56.
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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 up-trending over the past week, with a rise of 2.45%, but this was up by 16.74% over a month. Three-month performance surged to 24.26% while six-month performance fell -19.03%. A look at the trailing 12-month EPS for SLGC yields -0.70 with Next year EPS estimates of -0.53. For the next quarter, that number is -0.15. This implies an EPS growth rate of -0.42% for this year and 10.13% for next year.
Float and Shares Shorts:
At present, 187.65 million SLGC shares are outstanding with a float of 156.45 million shares on hand for trading. On Oct 30, 2023, short shares totaled 7.81 million, which was 4.14% higher than short shares on Sep 28, 2023. In addition to Dr. Stephen A. Williams BS, MB, Ph.D. as the firm’s Chief Medical Officer, Mr. Adam Taich serves as its Interim CEO.
Institutional Ownership:
Through their ownership of 69.18% of SLGC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 31.75% of SLGC, in contrast to 24.00% held by mutual funds. Shares owned by individuals account for 1.26%. As the largest shareholder in SLGC with 6.88% of the stake, ARK Investment Management LLC holds 12,983,002 shares worth 12,983,002. A second-largest stockholder of SLGC, Casdin Capital LLC, holds 12,604,275 shares, controlling over 6.68% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in SLGC, holding 9,473,872 shares or 5.02% stake. With a 6.83% stake in SLGC, the ARK Genomic Revolution ETF is the largest stakeholder. A total of 12,876,798 shares are owned by the mutual fund manager. The Nikko AM Global Umbrella Fund – A, which owns about 3.75% of SLGC stock, is the second-largest Mutual Fund holder. It holds 7,081,776 shares valued at 15.79 million. Vanguard Total Stock Market ETF holds 2.20% of the stake in SLGC, owning 4,157,015 shares worth 9.27 million.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SLGC since 0 analysts follow the stock currently. 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 $7.00 and a low target of $2.30, the average target price over the next 12 months is $4.70. Based on these targets, SLGC could surge 178.88% to reach the target high and fall by -8.37% to reach the target low. Reaching the average price target will result in a growth of 87.25% from current levels.
Summary of Insider Activity:
Insiders traded SLGC stock several times over the past three months with 1 Buys and 3 Sells. In these transactions, 9,502 shares were bought while 34,229 shares were sold. The number of buy transactions has increased to 11 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 121,082 while 36,406 shares were sold.
