New York State Common Retirement Fund increased its stake in SomaLogic, Inc. (NASDAQ:SLGC – Get Rating) by 28.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 73,061 shares of the company’s stock after purchasing an additional 16,198 shares during the period. New York State Common Retirement Fund’s holdings in SomaLogic were worth $586,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wolverine Asset Management LLC acquired a new position in SomaLogic in the 4th quarter worth $36,000. Sargent Bickham Lagudis LLC bought a new stake in SomaLogic during the 1st quarter worth about $34,000. HighTower Advisors LLC bought a new stake in SomaLogic during the 4th quarter worth about $170,000. Sciencast Management LP bought a new stake in SomaLogic during the 1st quarter worth about $134,000. Finally, Victory Capital Management Inc. bought a new stake in shares of SomaLogic in the 4th quarter valued at about $273,000. 58.65% of the stock is owned by institutional investors and hedge funds.
SomaLogic Stock Down 5.9 %
Shares of NASDAQ:SLGC opened at $3.85 on Friday. The company’s 50 day moving average price is $4.78 and its two-hundred day moving average price is $6.44. SomaLogic, Inc. has a 12-month low of $3.65 and a 12-month high of $14.72. The firm has a market cap of $701.82 million, a PE ratio of -4.64 and a beta of 1.38.
Wall Street Analysts Forecast Growth
SLGC has been the topic of a number of research analyst reports. Canaccord Genuity Group dropped their target price on shares of SomaLogic from $19.00 to $15.00 in a report on Friday, May 13th. Cowen dropped their target price on shares of SomaLogic from $11.00 to $9.00 in a report on Tuesday. Finally, Cowen dropped their target price on shares of SomaLogic from $11.00 to $9.00 and set an “outperform” rating on the stock in a report on Tuesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $13.33.
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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