SomaLogic, Inc. (NASDAQ:SLGC – Get Rating) gapped down before the market opened on Monday . The stock had previously closed at $3.00, but opened at $2.89. SomaLogic shares last traded at $2.96, with a volume of 15,629 shares.
Analyst Ratings Changes
A number of brokerages have recently commented on SLGC. Cowen lowered their price target on shares of SomaLogic from $11.00 to $9.00 and set an "outperform" rating for the company in a report on Tuesday, August 16th. Cowen lowered their price target on shares of SomaLogic from $11.00 to $9.00 in a report on Tuesday, August 16th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, SomaLogic has a consensus rating of "Buy" and an average price target of $13.33.
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SomaLogic Stock Up 2.4 %
The company has a market cap of $544.86 million, a PE ratio of -3.58 and a beta of 1.53. The business's 50 day moving average price is $4.14 and its 200-day moving average price is $5.43.
Institutional Trading of SomaLogic
A number of hedge funds have recently made changes to their positions in SLGC. Vanguard Group Inc. raised its stake in shares of SomaLogic by 158.1% during the first quarter. Vanguard Group Inc. now owns 6,473,890 shares of the company's stock valued at $51,921,000 after purchasing an additional 3,965,138 shares during the period. Point72 Asset Management L.P. increased its stake in shares of SomaLogic by 190.2% in the fourth quarter. Point72 Asset Management L.P. now owns 3,720,666 shares of the company's stock worth $43,309,000 after buying an additional 2,438,734 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of SomaLogic by 2,913.7% in the first quarter. Goldman Sachs Group Inc. now owns 2,120,772 shares of the company's stock worth $17,009,000 after buying an additional 2,050,401 shares during the last quarter. State Street Corp increased its stake in shares of SomaLogic by 403.9% in the second quarter. State Street Corp now owns 2,510,507 shares of the company's stock worth $11,347,000 after buying an additional 2,012,256 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of SomaLogic in the second quarter worth $8,922,000. Hedge funds and other institutional investors own 59.29% of the company's stock.
SomaLogic Company 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.
Further Reading
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