Prenetics Global (NASDAQ:PRE) Rating Lowered to “Hold” at Wall Street Zen

Prenetics Global (NASDAQ:PRE) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Monday.

A number of other analysts also recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Prenetics Global in a research report on Thursday, January 22nd. Cantor Fitzgerald increased their price target on Prenetics Global from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, Roth Mkm began coverage on Prenetics Global in a research note on Wednesday, February 11th. They issued a “buy” rating and a $36.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $34.00.

Prenetics Global Stock Down 1.0%

PRE opened at $21.74 on Monday. Prenetics Global has a twelve month low of $3.09 and a twelve month high of $22.86. The company’s 50-day moving average price is $17.57 and its two-hundred day moving average price is $13.84. The stock has a market cap of $365.88 million, a price-to-earnings ratio of -10.71 and a beta of 0.35.

Institutional Investors Weigh In On Prenetics Global

Institutional investors and hedge funds have recently modified their holdings of the company. Stevens Capital Partners bought a new position in shares of Prenetics Global in the second quarter valued at approximately $137,000. Aberdeen Group plc bought a new position in Prenetics Global in the 3rd quarter valued at $979,000. JPMorgan Chase & Co. purchased a new position in shares of Prenetics Global during the 3rd quarter valued at $65,000. UBS Group AG grew its position in shares of Prenetics Global by 581.9% during the 3rd quarter. UBS Group AG now owns 46,561 shares of the company’s stock valued at $619,000 after purchasing an additional 39,733 shares in the last quarter. Finally, Kingsview Wealth Management LLC bought a new position in shares of Prenetics Global in the fourth quarter worth $172,000. 25.01% of the stock is owned by hedge funds and other institutional investors.

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.