Stock analysts at B. Riley Financial started coverage on shares of Prenetics Global (NASDAQ:PRE – Get Free Report) in a research report issued on Thursday. The brokerage set a “buy” rating and a $37.00 price target on the stock. B. Riley Financial’s target price points to a potential upside of 43.52% from the company’s current price.
Other equities analysts have also issued reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Prenetics Global in a research note on Friday, July 17th. Wall Street Zen raised shares of Prenetics Global from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Finally, Benchmark lifted their price target on shares of Prenetics Global from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, July 15th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Prenetics Global currently has an average rating of “Moderate Buy” and an average price target of $34.80.
Get Our Latest Stock Analysis on PRE
Prenetics Global Stock Up 10.9%
Prenetics Global (NASDAQ:PRE – Get Free Report) last posted its quarterly earnings results on Wednesday, August 19th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.31. Prenetics Global had a negative return on equity of 21.41% and a negative net margin of 47.43%.The company had revenue of $46.49 million during the quarter, compared to analysts’ expectations of $49.85 million. As a group, analysts anticipate that Prenetics Global will post -1.86 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Prenetics Global news, CFO Brian J. Rosin purchased 18,000 shares of Prenetics Global stock in a transaction dated Monday, August 24th. The shares were bought at an average cost of $21.19 per share, for a total transaction of $381,420.00. Following the transaction, the chief financial officer owned 18,000 shares in the company, valued at $381,420. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Danny Sheng Wu Yeung purchased 17,181 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was acquired at an average cost of $21.23 per share, with a total value of $364,752.63. Following the completion of the acquisition, the chief executive officer directly owned 112,416 shares in the company, valued at approximately $2,386,591.68. This trade represents a 18.04% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders acquired 47,781 shares of company stock valued at $999,778. 7.80% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Prenetics Global
Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. acquired a new stake in shares of Prenetics Global during the 3rd quarter worth approximately $65,000. UBS Group AG grew its stake in Prenetics Global by 581.9% during the 3rd quarter. UBS Group AG now owns 46,561 shares of the company’s stock worth $619,000 after buying an additional 39,733 shares during the last quarter. Kingsview Wealth Management LLC acquired a new stake in Prenetics Global in the fourth quarter worth $172,000. Goldman Sachs Group Inc. acquired a new stake in Prenetics Global in the fourth quarter worth $665,000. Finally, T3 Companies LLC bought a new stake in Prenetics Global in the fourth quarter valued at $170,000. 25.01% of the stock is currently owned by institutional investors and hedge funds.
Prenetics Global Company Profile
Prenetics Global (NASDAQ: PRE) is a molecular diagnostics and genetic testing company that delivers a broad range of laboratory and at-home testing solutions. The company’s core offerings include next-generation sequencing (NGS) panels for hereditary health risks, pharmacogenomic reports to guide medication choices, and comprehensive consumer DNA testing services. In addition to genetic insights, Prenetics provides infectious disease diagnostics—most notably real-time PCR testing for pathogens such as SARS-CoV-2—through an integrated platform that combines sample collection, laboratory processing and digital reporting.
Serving both business-to-consumer and business-to-business markets, Prenetics operates a network of laboratories and service centers across Asia Pacific, Europe, the Middle East and North America.
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