Benchmark Forecasts Strong Price Appreciation for Prenetics Global (NASDAQ:PRE) Stock

Prenetics Global (NASDAQ:PRE) had its target price boosted by research analysts at Benchmark from $30.00 to $40.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price target would suggest a potential upside of 96.71% from the company’s current price.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Prenetics Global in a report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.25.

Prenetics Global Price Performance

Shares of NASDAQ:PRE traded down $0.91 during midday trading on Wednesday, hitting $20.34. The company had a trading volume of 176,701 shares, compared to its average volume of 232,738. Prenetics Global has a twelve month low of $7.18 and a twelve month high of $23.63. The stock has a market cap of $343.05 million, a price-to-earnings ratio of -4.44 and a beta of 0.26. The business’s 50-day simple moving average is $18.52 and its 200-day simple moving average is $18.44.

Prenetics Global (NASDAQ:PRE) last released its quarterly earnings data on Wednesday, June 10th. The company reported ($0.56) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.07). The company had revenue of $35.95 million for the quarter, compared to analyst estimates of $36.00 million. Prenetics Global had a negative return on equity of 20.33% and a negative net margin of 62.45%. As a group, sell-side analysts forecast that Prenetics Global will post -1.4 EPS for the current year.

Hedge Funds Weigh In On Prenetics Global

Several hedge funds have recently bought and sold shares of PRE. Renaissance Technologies LLC increased its stake in Prenetics Global by 85.1% during the first quarter. Renaissance Technologies LLC now owns 31,322 shares of the company’s stock worth $605,000 after purchasing an additional 14,400 shares during the period. State of Wyoming purchased a new position in Prenetics Global in the first quarter valued at $48,000. Stevens Capital Partners increased its holdings in Prenetics Global by 54.6% during the 1st quarter. Stevens Capital Partners now owns 28,147 shares of the company’s stock worth $544,000 after purchasing an additional 9,940 shares during the period. Quadrature Capital Ltd purchased a new stake in Prenetics Global during the 4th quarter worth about $468,000. Finally, Millennium Management LLC acquired a new stake in Prenetics Global in the 4th quarter valued at about $810,000. Institutional investors and hedge funds own 25.01% of the company’s stock.

About Prenetics Global

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.