Prenetics Global Limited (NASDAQ:PRE) Stock Has Consensus Price Target of $35.67

Shares of Prenetics Global Limited (NASDAQ:PRE) have earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $36.43.

Several research firms recently issued reports on PRE. B. Riley Financial assumed coverage on shares of Prenetics Global in a research report on Thursday, August 27th. They set a “buy” rating and a $37.00 price target on the stock. Benchmark lifted their price objective on shares of Prenetics Global from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, July 15th. Wall Street Zen upgraded shares of Prenetics Global from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Maxim Group started coverage on Prenetics Global in a research note on Monday. They set a “buy” rating and a $41.00 target price for the company. Finally, Lucid Cap Mkts raised Prenetics Global to a “strong-buy” rating in a report on Monday, October 12th.

Insiders Place Their Bets

In other Prenetics Global news, CFO Brian J. Rosin acquired 18,000 shares of Prenetics Global stock in a transaction that occurred on Monday, August 24th. The shares were acquired at an average cost 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 of the company’s stock, valued at $381,420. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Danny Sheng Wu Yeung bought 17,181 shares of the firm’s stock in a transaction on Monday, August 24th. The stock was acquired at an average price of $21.23 per share, for a total transaction of $364,752.63. Following the transaction, the chief executive officer owned 112,416 shares of the company’s stock, valued at approximately $2,386,591.68. The trade was a 18.04% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 47,781 shares of company stock valued at $999,778 in the last three months.

Institutional Investors Weigh In On Prenetics Global

A number of hedge funds have recently made changes to their positions in the stock. State of Wyoming bought a new stake in Prenetics Global during the 1st quarter worth $48,000. Operose Advisors LLC acquired a new position in Prenetics Global in the 2nd quarter worth about $129,000. Stevens Capital Partners increased its holdings in Prenetics Global by 54.6% in 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 in the last quarter. Finally, Renaissance Technologies LLC raised its position in Prenetics Global by 85.1% in the first quarter. Renaissance Technologies LLC now owns 31,322 shares of the company’s stock valued at $605,000 after purchasing an additional 14,400 shares during the last quarter. 25.01% of the stock is currently owned by institutional investors and hedge funds.

Prenetics Global Stock Up 5.9%

PRE stock opened at $18.37 on Tuesday. Prenetics Global has a 52 week low of $11.36 and a 52 week high of $27.24. The business has a 50-day simple moving average of $22.10 and a 200 day simple moving average of $19.54. The company has a market cap of $309.90 million, a PE ratio of -4.42 and a beta of 0.35.

Prenetics Global (NASDAQ:PRE) last announced its quarterly earnings data on Wednesday, August 19th. The company reported ($0.53) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.84) by $0.31. Prenetics Global had a negative net margin of 47.43% and a negative return on equity of 21.41%. The firm had revenue of $46.49 million for the quarter, compared to the consensus estimate of $49.85 million. On average, analysts anticipate that Prenetics Global will post -1.86 EPS for the current fiscal year.

Prenetics Global Company Profile

Prenetics Global Limited is a health sciences and genomics company founded in 2014 by Danny Yeung, who serves as its chief executive officer. Headquartered in Hong Kong, the company uses genetic sequencing, molecular diagnostics and data analysis to support consumer health, clinical care and early disease detection.

Its consumer business operates under the CircleDNA brand, which offers at-home DNA testing and reports covering areas such as wellness, nutrition, fitness, traits and genetic risk.