SomaLogic Inc. [NASDAQ: SLGC] jumped around 0.12 points on Tuesday, while shares priced at $4.25 at the close of the session, up 2.91%. The company report on August 15, 2022 that SomaLogic Reports Second Quarter 2022 Financial Results.
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Second quarter 2022 revenue of $14.1 million, bringing year to date revenue to $37.1 million.
Reducing 2022 revenue guidance to $80-90 million to account for ongoing variability in core service business, macroeconomic and commercial factors.
SomaLogic Inc. stock is now -63.49% down from its year-to-date (YTD) trading value. SLGC Stock saw the intraday high of $4.38 and lowest of $3.65 per share. The company’s 52-week high price is 14.72, which means current price is +16.44% above from all time high which was touched on 01/03/22.
Compared to the average trading volume of 1.81M shares, SLGC reached a trading volume of 4047585 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 0.38, with the Price to Sales ratio for SLGC stock in the period of the last 12 months amounting to 9.00. The Price to Book ratio for the last quarter was 1.25, with the Price to Cash per share for the same quarter was set at 3.57.
How has SLGC stock performed recently?
SomaLogic Inc. [SLGC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.05. With this latest performance, SLGC shares dropped by -14.83% in over the last four-week period, additionally sinking by -55.45% over the last 6 months – not to mention a drop of -62.75% 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 40.16, with the RSI for the last a single of trading hit 38.75, and the three-weeks RSI is set at 41.28 for SomaLogic Inc. [SLGC]. The present Moving Average for the last 50 days of trading for this stock 4.91, while it was recorded at 4.30 for the last single week of trading, and 8.02 for the last 200 days.
SomaLogic Inc. [SLGC]: Deeper insight into the 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.
Insider trade positions for SomaLogic Inc. [SLGC]
There are presently around $497 million, or 66.40% 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; BLACKROCK INC., holding 9,770,227 shares of the stock with an approximate value of $41.52 million in SLGC stocks shares; and MADRYN SELECT OPPORTUNITIES, LP, currently with $33.49 million in SLGC stock with ownership of nearly New 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 86 institutional holders increased their position in SomaLogic Inc. [NASDAQ:SLGC] by around 34,675,776 shares. Additionally, 58 investors decreased positions by around 23,654,231 shares, while 21 investors held positions by with 58,711,116 shares. The mentioned changes placed institutional holdings at 117,041,123 shares, according to the latest SEC report filing. SLGC stock had 50 new institutional investments in for a total of 15,886,193 shares, while 29 institutional investors sold positions of 12,375,014 shares during the same period.