SomaLogic (NASDAQ:SLGC) Given New $15.00 Price Target at Canaccord Genuity Group

SomaLogic (NASDAQ:SLGCGet Rating) had its target price trimmed by Canaccord Genuity Group from $19.00 to $15.00 in a research report released on Friday, The Fly reports.

SLGC has been the subject of a number of other reports. Zacks Investment Research upgraded shares of SomaLogic from a sell rating to a hold rating in a report on Friday. Stifel Nicolaus assumed coverage on shares of SomaLogic in a report on Tuesday, February 1st. They set a buy rating and a $12.00 price target for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $16.00.

NASDAQ:SLGC traded up $0.87 during trading hours on Friday, reaching $5.42. The company’s stock had a trading volume of 3,438,336 shares, compared to its average volume of 1,224,961. SomaLogic has a one year low of $4.20 and a one year high of $14.72. The business’s 50-day moving average is $7.10 and its 200-day moving average is $9.44.

SomaLogic (NASDAQ:SLGCGet Rating) last issued its quarterly earnings data on Tuesday, March 29th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). On average, sell-side analysts forecast that SomaLogic will post -0.69 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Sargent Bickham Lagudis LLC acquired a new position in shares of SomaLogic during the first quarter valued at about $34,000. Wolverine Asset Management LLC acquired a new position in shares of SomaLogic during the fourth quarter valued at about $36,000. PNC Financial Services Group Inc. acquired a new position in shares of SomaLogic during the third quarter valued at about $37,000. UBS Group AG acquired a new position in shares of SomaLogic during the third quarter valued at about $58,000. Finally, Penserra Capital Management LLC acquired a new position in shares of SomaLogic during the fourth quarter valued at about $98,000. 58.65% of the stock is owned by institutional investors and hedge funds.

SomaLogic Company Profile (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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