ARK Investment Management LLC has recently announced that it has increased stake in SomaLogic Inc (NASDAQ:SLGC) by 2.27%. After grabbing 12.98 million shares, the institutional investor is now in possession of 0.29 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 6.90% having worth around $36.61 million. Moreover, BlackRock Fund Advisors increased its share by 1723.0 to have a control over 9.47 million shares. And Nikko Asset Management Americas, raised its holdings to 25923.0 shares by acquiring 8.77 million shares or 4.66% of the stake.
SomaLogic Inc (SLGC) concluded trading on 01/04/24 at a closing price of $2.20, with 4.41 million shares of worth about $9.71 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 4.27% during that period and on Thursday the price saw a loss of about -3.93%. Currently the company’s common shares owned by public are about 187.65M shares, out of which, 167.26M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 18 times over the past 12 months. They bought 137,832 shares in 12 of the transactions. In 6 selling transactions, insiders dumped 42,081 shares.
ARK Genomic Revolution ETF, Nikko AM Global Umbrella Fund – A, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in SomaLogic Inc ARK Genomic Revolution ETF is currently holding 13.23 million shares of worth totaling $37.31 million. The company recently came buying 0.0 shares which brought its stake up to 7.04% of the company’s outstanding shares. Nikko AM Global Umbrella Fund – A bought 3.97 million shares, after which its hold over company’s outstanding shares expand to 3.77%, leaving 7.08 million shares with the mutual fund that have a worth of about $19.97 million. Vanguard Total Stock Market ETF, after buying 4.16 million shares, have now control over 2.21% of the stake in the company. It holds 0.0 shares of worth $11.72 million.
SomaLogic Inc (NASDAQ: SLGC) started trading at $2.28, below -$0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 2.3000, or with a loss of -3.93%. Stock saw a price change of -13.04% in past 5 days and over the past one month there was a price change of -20.86%. Year-to-date (YTD), SLGC shares are showing a performance of -13.04% which decreased to -16.03% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $1.73 but also hit the highest price of $3.79 during that period. The average intraday trading volume for SomaLogic Inc shares is 1.87 million. The stock is currently trading -8.57% below its 20-day simple moving average (SMA20), while that difference is down -8.83% for SMA50 and it goes to -10.05% lower than SMA200.
ARK Investment Management LLC acquired 12.98 million shares of SomaLogic Inc having value of about $36.61 million. Data submitted at the U.S SEC by ARK Investment Management LLC revealed that the firm now holds 0.29 million shares in the company valued at close to $635309.4, or have control over 2.27% stake in the company. SomaLogic Inc (NASDAQ: SLGC) currently have 187.65M outstanding shares and institutions hold larger chunk of about 55.74% of that. Holding of mutual funds in the company is about 24.59% while other institutional holders and individual stake holders have control over 31.34% and 1.26% of the stake respectively.
The stock has a current market capitalization of $415.10M and its 3Y-monthly beta is at 1.64. It has posted earnings per share of -$0.70 in the same period. It has Quick Ratio of 17.27 while making debt-to-equity ratio of 0.01. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SLGC, volatility over the week remained 8.12% while standing at 8.07% over the month.
Analysts are in expectations that SomaLogic Inc (SLGC) stock would likely to be making an EPS of $SomaLogic, Inc. in the current quarter, while forecast for next quarter EPS is $2.20 and it is $Stocks for next year. For the current quarter EPS, analysts have given the company a lowest target $SLR Investment Corp. which is $Flora Growth Corp. at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $Sol-Gel Technologies Ltd. in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -0.36% while it is estimated to increase by 9.91% in next year.
Analysts at 4 brokerage firms have issued recommendations for the SomaLogic Inc (SLGC)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 4 Wall Street analysts, 2 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on October 05, 2023 offering a Hold rating for the stock and assigned a target price range of between $3.50 and $2.30 to it.
