Prenetics Global Limited (NASDAQ:PRE) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts give Prenetics Global a “Moderate Buy” consensus: Five of six analysts rate the stock a buy, while one recommends selling. The average 12-month price target is $34.80, above the reported $25.76 opening price.
• Quarterly results were mixed: Prenetics reported an adjusted loss of $0.53 per share, better than the expected $0.84 loss, but revenue of $46.49 million fell short of the $49.85 million estimate. The company remains unprofitable, with a negative net margin of 47.43%.
• Insiders and institutions have shown buying interest: Executives purchased shares worth nearly $1 million over the past 90 days, while hedge funds and other institutional investors own 25.01% of the company.

Prenetics Global Limited (NASDAQ:PRE - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six analysts that are covering the stock, Marketbeat reports. One investment 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 brokers that have issued ratings on the stock in the last year is $34.80.

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

Prenetics Global Stock Performance

Shares of PRE stock opened at $25.76 on Monday. The company has a market capitalization of $434.67 million, a PE ratio of -6.19 and a beta of 0.26. Prenetics Global has a 52-week low of $7.41 and a 52-week high of $26.50. The business's fifty day moving average is $19.46 and its 200 day moving average is $19.07.

Prenetics Global (NASDAQ:PRE - Get Free Report) last posted its earnings results on Wednesday, August 19th. The company reported ($0.53) EPS for the quarter, topping the consensus estimate of ($0.84) by $0.31. The business had revenue of $46.49 million during the quarter, compared to analysts' expectations of $49.85 million. Prenetics Global had a negative return on equity of 21.41% and a negative net margin of 47.43%. On average, sell-side analysts forecast that Prenetics Global will post -1.86 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Brian J. Rosin acquired 5,100 shares of the company's stock in a transaction dated Tuesday, August 25th. The stock was bought at an average cost of $22.80 per share, with a total value of $116,280.00. Following the acquisition, the chief financial officer owned 23,100 shares of the company's stock, valued at approximately $526,680. The trade was a 28.33% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Danny Sheng Wu Yeung bought 17,181 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average price of $21.23 per share, with a total value of $364,752.63. Following the completion of the transaction, the chief executive officer directly owned 112,416 shares of the company's stock, valued at $2,386,591.68. This represents a 18.04% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 47,781 shares of company stock valued at $999,778 over the last ninety days. 7.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Prenetics Global

A number of hedge funds and other institutional investors have recently modified their holdings of PRE. Jane Street Group LLC purchased a new position in shares of Prenetics Global during the 4th quarter valued at about $1,302,000. 683 Capital Management LLC purchased a new stake in Prenetics Global in the fourth quarter worth approximately $1,181,000. Millennium Management LLC bought a new position in Prenetics Global during the fourth quarter valued at approximately $810,000. Marshall Wace LLP bought a new position in Prenetics Global during the fourth quarter valued at approximately $788,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Prenetics Global during the fourth quarter worth approximately $665,000. 25.01% of the stock is currently owned by hedge funds and other 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.

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