683 Capital Management LLC Invests $1.18 Million in Prenetics Global Limited $PRE

683 Capital Management LLC acquired a new position in Prenetics Global Limited (NASDAQ:PRE) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 75,000 shares of the company’s stock, valued at approximately $1,181,000.

Other hedge funds also recently made changes to their positions in the company. Aberdeen Group plc acquired a new position in shares of Prenetics Global in the 3rd quarter worth approximately $979,000. Hudson Bay Capital Management LP acquired a new position in shares of Prenetics Global in the 4th quarter worth approximately $296,000. UBS Group AG grew its stake in shares of Prenetics Global by 581.9% in the 3rd quarter. UBS Group AG now owns 46,561 shares of the company’s stock worth $619,000 after purchasing an additional 39,733 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Prenetics Global in the 4th quarter worth approximately $1,302,000. Finally, Marshall Wace LLP acquired a new position in shares of Prenetics Global in the 4th quarter worth approximately $788,000. Institutional investors and hedge funds own 25.01% of the company’s stock.

Prenetics Global Stock Performance

Shares of PRE opened at $19.85 on Thursday. The company has a market capitalization of $334.87 million, a PE ratio of -4.33 and a beta of 0.24. The company’s 50 day moving average price is $18.27 and its 200 day moving average price is $18.00. Prenetics Global Limited has a 52 week low of $7.05 and a 52 week high of $23.63.

Prenetics Global (NASDAQ:PRE) last posted its earnings results on Wednesday, June 10th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.07). The business had revenue of $35.95 million during the quarter, compared to analyst estimates of $36.00 million. Prenetics Global had a negative net margin of 62.45% and a negative return on equity of 20.33%. On average, equities analysts forecast that Prenetics Global Limited will post -1.77 earnings per share for the current fiscal year.

Prenetics Global announced that its board has initiated a share buyback plan on Friday, March 6th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the company to purchase up to 15.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PRE shares. Lake Street Capital started coverage on shares of Prenetics Global in a research note on Monday, March 16th. They issued a “buy” rating and a $29.00 price objective on the stock. Benchmark assumed coverage on shares of Prenetics Global in a research report on Tuesday. They issued a “buy” rating and a $30.00 price target for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Prenetics Global in a research report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Prenetics Global presently has a consensus rating of “Moderate Buy” and an average target price of $31.75.

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.