Prenetics Global Limited (NASDAQ:PRE) Stock Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Analysts hold a “Moderate Buy” consensus on Prenetics Global, with six buy ratings, one strong-buy rating and one sell rating. The average 12-month price target is $35.67, well above the reported $19.02 share price.
• Company insiders purchased 47,781 shares worth nearly $1 million over the past 90 days, including acquisitions by the CFO and CEO.
• Prenetics exceeded quarterly EPS expectations but missed revenue estimates, reporting a $0.53 loss per share versus the expected $0.84 loss and $46.49 million in revenue versus $49.85 million expected. The company remains unprofitable, with a negative net margin of 47.43%.

Prenetics Global Limited (NASDAQ:PRE - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eight analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $35.67.

PRE has been the subject of a number of research analyst reports. Benchmark upped their price target on Prenetics Global from $30.00 to $40.00 and gave the stock a "buy" rating in a report on Wednesday, July 15th. Wall Street Zen raised Prenetics Global from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Prenetics Global in a research note on Thursday. Craig Hallum began coverage on shares of Prenetics Global in a research note on Thursday, September 17th. They set a "buy" rating and a $40.00 price target on the stock. Finally, B. Riley Financial initiated coverage on shares of Prenetics Global in a research note on Thursday, August 27th. They issued a "buy" rating and a $37.00 target price on the stock.

Insider Buying and Selling at Prenetics Global

In related news, CFO Brian J. Rosin purchased 18,000 shares of the stock in a transaction dated Monday, August 24th. The stock was bought at an average cost of $21.19 per share, with a total value of $381,420.00. Following 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 purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Danny Sheng Wu Yeung purchased 17,181 shares of the stock in a transaction on Monday, August 24th. The stock was acquired at an average price of $21.23 per share, with a total value of $364,752.63. Following the completion of the acquisition, the chief executive officer directly owned 112,416 shares of the company's stock, valued at approximately $2,386,591.68. This represents a 18.04% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have bought 47,781 shares of company stock worth $999,778 in the last ninety days.

Institutional Investors Weigh In On Prenetics Global

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Operose Advisors LLC acquired a new position in shares of Prenetics Global during the 2nd quarter worth about $129,000. Renaissance Technologies LLC boosted its stake in Prenetics Global by 85.1% in the 1st 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 period. State of Wyoming bought a new stake in Prenetics Global in the 1st quarter valued at about $48,000. Finally, Stevens Capital Partners lifted its position in shares of Prenetics Global by 54.6% during the 1st quarter. Stevens Capital Partners now owns 28,147 shares of the company's stock valued at $544,000 after acquiring an additional 9,940 shares during the period. Institutional investors and hedge funds own 25.01% of the company's stock.

Prenetics Global Stock Performance

Shares of NASDAQ PRE opened at $19.02 on Tuesday. Prenetics Global has a 52 week low of $11.36 and a 52 week high of $27.24. The business's 50-day simple moving average is $22.40 and its 200-day simple moving average is $19.94. The firm has a market cap of $320.87 million, a price-to-earnings ratio of -4.57 and a beta of 0.35.

Prenetics Global (NASDAQ:PRE - Get Free Report) last issued its quarterly earnings data on Wednesday, August 19th. The company reported ($0.53) earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 47.43% and a negative return on equity of 21.41%. As a group, equities research analysts forecast that Prenetics Global will post -1.86 earnings per share for the current year.

Prenetics Global Company Profile

Prenetics Global Limited is a health sciences and genomics company focused on making precision healthcare more accessible. The company develops and provides genetic testing, clinical genomics, diagnostics and related digital health services for consumers, healthcare professionals and enterprises.

Its offerings include CircleDNA, a consumer genetic-testing platform that provides information related to ancestry, wellness and selected health traits, and ACT Genomics, which provides genomic profiling and precision oncology services intended to help physicians and cancer patients make more informed treatment decisions.

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