Market Analysts see SomaLogic Inc. [SLGC] gaining to $12. Time to buy?

SomaLogic Inc. [NASDAQ: SLGC] stock went on an upward path that rose over 8.31% on Wednesday, amounting to a one-week price decrease of less than -13.48%. The company report on July 26, 2022 that SomaLogic acquires DNA nanotechnology leader Palamedrix to develop the next-generation SomaScan® Assay.

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Brings differentiated miniaturization technology, scientific and engineering expertise, and enhanced ease-of-use capabilities to SomaLogic’s platform while expanding footprint to San Diego, CA.

SomaLogic (NASDAQ: SLGC), a leader in AI data-driven proteomics technology, today announced it entered into an agreement to acquire Palamedrix, Inc., an innovator in DNA nanotechnology. Palamedrix provides deep scientific and engineering expertise, miniaturization technology and enhanced ease-of-use capabilities that SomaLogic intends to leverage as it develops the next generation of the SomaScan® Assay. The acquisition brings two leading technologies together which SomaLogic believes will accelerate SomaScan Platform utilization in global biopharma and academic markets, as well as the emerging proteomic diagnostics space.

Over the last 12 months, SLGC stock dropped by -62.01%. The one-year SomaLogic Inc. stock forecast points to a potential upside of 62.61. The average equity rating for SLGC stock is currently 1.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $766.91 million, with 182.05 million shares outstanding and 157.29 million shares in the current float. Compared to the average trading volume of 1.81M shares, SLGC stock reached a trading volume of 4918142 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on SomaLogic Inc. [SLGC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SLGC shares is $11.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SLGC stock is a recommendation set at 1.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stifel have made an estimate for SomaLogic Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 01, 2022. While these analysts kept the previous recommendation, Canaccord Genuity raised their target price to Buy. The new note on the price target was released on December 14, 2021, representing the official price target for SomaLogic Inc. stock. Previously, the target price had yet another raise to $16, while Jefferies analysts kept a Buy rating on SLGC stock.

The Average True Range (ATR) for SomaLogic Inc. is set at 0.35, with the Price to Sales ratio for SLGC stock in the period of the last 12 months amounting to 8.95. The Price to Book ratio for the last quarter was 1.27, with the Price to Cash per share for the same quarter was set at 3.63.

SLGC Stock Performance Analysis:

SomaLogic Inc. [SLGC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.48. With this latest performance, SLGC shares dropped by -13.31% in over the last four-week period, additionally sinking by -53.11% over the last 6 months – not to mention a drop of -62.01% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SLGC stock in for the last two-week period is set at 39.11, with the RSI for the last a single of trading hit 36.65, and the three-weeks RSI is set at 40.71 for SomaLogic Inc. [SLGC]. The present Moving Average for the last 50 days of trading for this stock 5.04, while it was recorded at 4.59 for the last single week of trading, and 8.18 for the last 200 days.

Insight into SomaLogic Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and SomaLogic Inc. [SLGC] shares currently have an operating margin of -89.80 and a Gross Margin at +59.00. SomaLogic Inc.’s Net Margin is presently recorded at -107.25.

Return on Equity for this stock declined to -28.61, with Return on Assets sitting at -24.79.

SomaLogic Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 24.40 and a Current Ratio set at 24.90.

SomaLogic Inc. [SLGC] Insider Position Details

There are presently around $462 million, or 66.20% of SLGC stock, in the hands of institutional investors. The top three institutional holders of SLGC stocks are: CASDIN CAPITAL, LLC with ownership of 12,389,082, which is approximately 0% of the company’s market cap and around 0.20% of the total institutional ownership; MADRYN SELECT OPPORTUNITIES, LP, holding 7,879,073 shares of the stock with an approximate value of $33.88 million in SLGC stocks shares; and MADRYN ASSET MANAGEMENT, LP, currently with $32.12 million in SLGC stock with ownership of nearly -5.202% of the company’s market capitalization.

Positions in SomaLogic Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 79 institutional holders increased their position in SomaLogic Inc. [NASDAQ:SLGC] by around 27,475,500 shares. Additionally, 42 investors decreased positions by around 21,224,912 shares, while 21 investors held positions by with 58,847,096 shares. The mentioned changes placed institutional holdings at 107,547,508 shares, according to the latest SEC report filing. SLGC stock had 39 new institutional investments in for a total of 12,358,216 shares, while 16 institutional investors sold positions of 15,028,184 shares during the same period.


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