SomaLogic (SLGC) Scheduled to Post Earnings on Thursday

SomaLogic (NASDAQ:SLGC – Get Rating) will be posting its quarterly earnings results after the market closes on Thursday, May 11th. Analysts expect SomaLogic to post earnings of ($0.21) per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

SomaLogic (NASDAQ:SLGC – Get Rating) last released its earnings results on Tuesday, March 28th. The company reported ($0.26) earnings per share for the quarter, meeting the consensus estimate of ($0.26). The company had revenue of $18.83 million during the quarter, compared to the consensus estimate of $15.50 million. SomaLogic had a negative return on equity of 22.12% and a negative net margin of 111.77%. On average, analysts expect SomaLogic to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

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SomaLogic Stock Performance

Shares of SLGC opened at $2.78 on Thursday. SomaLogic has a 1 year low of $1.98 and a 1 year high of $7.01. The company’s 50-day simple moving average is $2.64 and its 200-day simple moving average is $2.83. The stock has a market capitalization of $522.33 million, a PE ratio of -4.71 and a beta of 1.88.

Hedge Funds Weigh In On SomaLogic

A number of hedge funds have recently added to or reduced their stakes in SLGC. Vanguard Group Inc. boosted its stake in SomaLogic by 158.1% during the 1st 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. Barclays PLC increased its holdings in SomaLogic by 10,196.0% in the fourth quarter. Barclays PLC now owns 2,510,259 shares of the company’s stock worth $6,301,000 after buying an additional 2,485,878 shares during the last quarter. Goldman Sachs Group Inc. raised its position 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 valued at $17,009,000 after purchasing an additional 2,050,401 shares during the period. State Street Corp lifted its position in shares of SomaLogic by 403.9% during the 2nd quarter. State Street Corp now owns 2,510,507 shares of the company’s stock worth $11,347,000 after purchasing an additional 2,012,256 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of SomaLogic by 441.8% in the second quarter. Northern Trust Corp now owns 1,324,293 shares of the company’s stock valued at $5,986,000 after acquiring an additional 1,079,888 shares during the period. Institutional investors and hedge funds own 66.79% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SLGC. Canaccord Genuity Group cut their price target on SomaLogic from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Wednesday, March 29th. TD Cowen lowered their price target on shares of SomaLogic from $8.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 29th. Finally, Stifel Nicolaus cut their price target on SomaLogic from $8.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, March 29th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, SomaLogic currently has an average rating of “Buy” and a consensus target price of $8.50.

About SomaLogic

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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.

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