Analysts Set Prenetics Global Limited (NASDAQ:PRE) Price Target at $34.80

Prenetics Global Limited (NASDAQ:PRE) has earned an average rating of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $34.80.

PRE has been the topic of several research analyst reports. Wall Street Zen raised shares of Prenetics Global from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Prenetics Global in a research note on Friday, July 17th. Benchmark upped their target price on Prenetics Global from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Finally, B. Riley Financial started coverage on Prenetics Global in a report on Thursday, August 27th. They issued a “buy” rating and a $37.00 target price on the stock.

Prenetics Global Trading Down 0.7%

PRE stock opened at $25.44 on Monday. The stock’s 50 day simple moving average is $20.08 and its 200 day simple moving average is $19.24. The firm has a market cap of $429.17 million, a P/E ratio of -6.12 and a beta of 0.31. Prenetics Global has a 12-month low of $7.90 and a 12-month high of $27.24.

Prenetics Global (NASDAQ:PRE) last released its quarterly earnings data on Wednesday, August 19th. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $46.49 million during the quarter, compared to analyst estimates of $49.85 million. On average, research analysts forecast that Prenetics Global will post -1.86 EPS for the current fiscal year.

Insider Transactions at Prenetics Global

In other news, CEO Danny Sheng Wu Yeung acquired 17,181 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was acquired at an average cost of $21.23 per share, for a total transaction of $364,752.63. Following the completion of the acquisition, the chief executive officer owned 112,416 shares in the company, valued at $2,386,591.68. This represents a 18.04% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brian Rosin bought 18,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was purchased at an average price of $21.19 per share, with a total value of $381,420.00. Following the completion of the purchase, the chief financial officer directly owned 18,000 shares in the company, valued at $381,420. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 47,781 shares of company stock valued at $999,778. 7.80% of the stock is owned by corporate insiders.

Institutional Trading of Prenetics Global

Several institutional investors have recently added to or reduced their stakes in PRE. Jane Street Group LLC bought a new position in shares of Prenetics Global in the fourth quarter valued at $1,302,000. 683 Capital Management LLC bought a new stake in Prenetics Global during the fourth quarter valued at $1,181,000. Millennium Management LLC purchased a new position in shares of Prenetics Global during the fourth quarter worth about $810,000. Marshall Wace LLP bought a new position in Prenetics Global in the fourth quarter valued at $788,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Prenetics Global in the fourth quarter worth approximately $665,000. 25.01% of the stock is currently owned by institutional investors.

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.