Prenetics Global (NASDAQ:PRE) CFO Brian Rosin Buys 18,000 Shares

Key Points

• CFO Brian Rosin purchased 18,000 Prenetics Global shares at an average price of $21.19, investing approximately $381,420 and increasing his ownership to 18,000 shares.
• Prenetics reported quarterly EPS of -$0.53, beating estimates of -$0.84, while revenue of $46.49 million fell short of the $49.85 million consensus forecast.
• The stock opened at $23.25 and has a consensus “Moderate Buy” rating with a $34.25 target price, though analysts remain split and the company continues to post negative margins and projected full-year losses.

Prenetics Global Limited (NASDAQ:PRE - Get Free Report) CFO Brian Rosin acquired 18,000 shares of Prenetics Global stock in a transaction dated Monday, August 24th. The shares were acquired 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 owned 18,000 shares in the company, valued at approximately $381,420. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Prenetics Global Stock Performance

NASDAQ:PRE opened at $23.25 on Wednesday. The stock's 50-day simple moving average is $19.12 and its 200 day simple moving average is $18.93. The company has a market cap of $392.23 million, a P/E ratio of -5.59 and a beta of 0.26. Prenetics Global Limited has a 52-week low of $7.25 and a 52-week high of $23.63.

Prenetics Global (NASDAQ:PRE - Get Free Report) last issued its quarterly earnings results on Wednesday, August 19th. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.84) by $0.31. The firm 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%. As a group, equities analysts predict that Prenetics Global Limited will post -1.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

PRE has been the subject of several recent analyst reports. Benchmark increased their price objective on Prenetics Global from $30.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, July 15th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Prenetics Global in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Prenetics Global from a "sell" rating to a "hold" rating in a research note on Saturday. Four research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $34.25.

Hedge Funds Weigh In On Prenetics Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRE. State of Wyoming bought a new position in shares of Prenetics Global in the first quarter valued at about $48,000. Wells Fargo & Company MN bought a new stake in shares of Prenetics Global during the 4th quarter worth about $47,000. JPMorgan Chase & Co. acquired a new position in Prenetics Global in the 3rd quarter valued at about $65,000. Operose Advisors LLC acquired a new position in Prenetics Global in the 2nd quarter valued at about $129,000. Finally, Manatuck Hill Partners LLC bought a new position in Prenetics Global in the 4th quarter valued at about $170,000. 25.01% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source