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SomaLogic Inc. (NASDAQ: SLGC) Is One Stock You Should Watch

SomaLogic Inc. (NASDAQ:SLGC)’s traded shares stood at 1.5 million during the last session. At the close of trading, the stock’s price was $2.30, to imply a decrease of -6.88% or -$0.17 in intraday trading. The SLGC share’s 52-week high remains $8.50, putting it -269.57% down since that peak but still an impressive 12.17% since price per share fell to its 52-week low of $2.02. The company has a valuation of $444.36M, with an average of 0.94 million shares in intraday trading volume over the past 10 days and average of 1.13 million shares over the past 3 months.

Analysts have given a consensus recommendation of a Buy for SomaLogic Inc. (SLGC), translating to a mean rating of 1.20. Of 4 analyst(s) looking at the stock, 0 analyst(s) give SLGC a Sell rating. 0 of those analysts rate the stock as Overweight while 0 advise Hold as 4 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.21.

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SomaLogic Inc. (NASDAQ:SLGC) trade information

After registering a -6.88% downside in the last session, SomaLogic Inc. (SLGC) has traded red over the past five days. The stock hit a weekly high of 2.53 this Friday, 03/17/23, dropping -6.88% in its intraday price action. The 5-day price performance for the stock is -0.43%, and -28.57% over 30 days. With these gigs, the year-to-date price performance is -8.37%. Short interest in SomaLogic Inc. (NASDAQ:SLGC) saw shorts transact 8.18 million shares and set a 7.44 days time to cover.

Analysts on Wall Street suggest a consensus price target of $6.50, implying an increase of 64.62% to the stock’s current value. The extremes give us $4.00 and $8.00 for target low and target high price respectively. As such, SLGC has been trading -247.83% off suggested target high and -73.91% from its likely low.

SomaLogic Inc. (SLGC) estimates and forecasts

Revenue is forecast to shrink -61.50% this quarter before falling -750.00% for the next one. The rating firms project that company’s revenue will grow 16.80% compared to the previous financial year.

Revenue forecast for the current quarter as set by 4 analysts is $16.55 million. Meanwhile, for the quarter ending Mar 2023, a total of 3 analyst(s) estimate revenue growth to $20.83 million.Earnings reports from the last fiscal year show that sales brought in $22.99 million and $22.98 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to fall -28.00% before dropping -9.40% in the following quarter.

SLGC Dividends

SomaLogic Inc. has its next earnings report out on November 14. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. SomaLogic Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

SomaLogic Inc. (NASDAQ:SLGC)’s Major holders

SomaLogic Inc. insiders hold 12.25% of total outstanding shares, with institutional holders owning 68.23% of the shares at 77.76% float percentage. In total, 68.23% institutions holds shares in the company, led by Casdin Capital, LLC. As of Sep 29, 2022, the company held over 12.6 million shares (or 6.87% of shares), all amounting to roughly $36.55 million.

The next major institution holding the largest number of shares is Blackrock Inc. with 9.74 million shares, or about 5.31% of shares outstanding. As of the market price on Sep 29, 2022, these shares were worth $28.24 million.

We also have ARK ETF Tr-ARK Genomic Revolution ETF and Vanguard Total Stock Market Index Fund as the top two Mutual Funds with the largest holdings of the SomaLogic Inc. (SLGC) shares. Going by data provided on Dec 30, 2022, ARK ETF Tr-ARK Genomic Revolution ETF holds roughly 8.98 million shares. This is just over 4.89% of the total shares, with a market valuation of $22.53 million. Data from the same date shows that the other fund manager holds a little less at 4.16 million, or 2.27% of the shares, all valued at about 12.06 million.

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