Prenetics Global (NASDAQ:PRE) Downgraded to “Hold” Rating by Wall Street Zen

Prenetics Global (NASDAQ:PRE) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

PRE has been the topic of a number of other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Prenetics Global in a research report on Thursday, January 22nd. Cantor Fitzgerald boosted their target price on shares of Prenetics Global from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, Roth Mkm started coverage on shares of Prenetics Global in a research report on Wednesday, February 11th. They set a “buy” rating and a $36.00 target price for the company. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $34.00.

Prenetics Global Trading Up 4.8%

NASDAQ PRE opened at $21.97 on Monday. Prenetics Global has a 1-year low of $3.09 and a 1-year high of $22.86. The company has a market capitalization of $369.76 million, a price-to-earnings ratio of -10.82 and a beta of 0.35. The stock’s 50 day moving average is $17.26 and its two-hundred day moving average is $13.64.

Institutional Investors Weigh In On Prenetics Global

Several hedge funds and other institutional investors have recently made changes to their positions in PRE. Wells Fargo & Company MN acquired a new position in shares of Prenetics Global during the fourth quarter valued at $47,000. JPMorgan Chase & Co. bought a new stake in Prenetics Global during the 3rd quarter worth about $65,000. T3 Companies LLC acquired a new position in Prenetics Global during the 4th quarter valued at about $170,000. Kingsview Wealth Management LLC bought a new position in shares of Prenetics Global in the 4th quarter valued at about $172,000. Finally, Stevens Capital Partners acquired a new stake in shares of Prenetics Global during the 2nd quarter worth approximately $137,000. 25.01% of the stock is owned by institutional investors and hedge funds.

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.