SomaLogic Inc. [SLGC] is -82.39% lower this YTD. Is it still time to buy?

SomaLogic Inc. [NASDAQ: SLGC] loss -4.21% or -0.09 points to close at $2.05 with a heavy trading volume of 5648726 shares. The company report on December 19, 2022 that FonesLife offers the 7,000-plex SomaScan® Platform as Japan’s first SomaLogic™ Certified Site.

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“SomaScan data can now be produced in Japan, which gives us faster results and makes it possible to work with samples that are difficult to take out of the country,” said FonesLife Chief Executive Officer Naoto Egawa. “Our goal is to dramatically expand our business as a scientific service provider in the expanding Asian market.”.

It opened the trading session at $2.12, the shares rose to $2.185 and dropped to $2.02, the range by which the price of stock traded the whole day. The daily chart for SLGC points out that the company has recorded -59.00% loss over the past six months. However, it is still 1.91% lower than its most recent low trading price.

If we look at the average trading volume of 1.31M shares, SLGC reached to a volume of 5648726 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $7.00 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 0.21, with the Price to Sales ratio for SLGC stock in the period of the last 12 months amounting to 4.01. The Price to Book ratio for the last quarter was 0.63, with the Price to Cash per share for the same quarter was set at 2.84.

Trading performance analysis for SLGC stock

SomaLogic Inc. [SLGC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -17.00. With this latest performance, SLGC shares dropped by -31.89% in over the last four-week period, additionally sinking by -59.00% over the last 6 months – not to mention a drop of -81.11% 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 29.58, with the RSI for the last a single of trading hit 21.30, and the three-weeks RSI is set at 34.17 for SomaLogic Inc. [SLGC]. The present Moving Average for the last 50 days of trading for this stock 2.82, while it was recorded at 2.25 for the last single week of trading, and 4.70 for the last 200 days.

SomaLogic Inc. [SLGC]: A deeper dive into fundamental analysis

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 14.10 and a Current Ratio set at 14.60.

An analysis of insider ownership at SomaLogic Inc. [SLGC]

There are presently around $268 million, or 67.40% of SLGC stock, in the hands of institutional investors. The top three institutional holders of SLGC stocks are: CASDIN CAPITAL, LLC with ownership of 12,604,275, which is approximately 1.737% of the company’s market cap and around 0.30% of the total institutional ownership; ARK INVESTMENT MANAGEMENT LLC, holding 11,017,672 shares of the stock with an approximate value of $22.59 million in SLGC stocks shares; and BLACKROCK INC., currently with $19.96 million in SLGC stock with ownership of nearly -0.317% of the company’s market capitalization.

Positions in SomaLogic Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 70 institutional holders increased their position in SomaLogic Inc. [NASDAQ:SLGC] by around 36,429,701 shares. Additionally, 52 investors decreased positions by around 14,489,896 shares, while 30 investors held positions by with 79,818,554 shares. The mentioned changes placed institutional holdings at 130,738,151 shares, according to the latest SEC report filing. SLGC stock had 15 new institutional investments in for a total of 19,623,027 shares, while 25 institutional investors sold positions of 7,226,047 shares during the same period.


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