Prenetics Global (NASDAQ:PRE) Given New $40.00 Price Target at Benchmark

Prenetics Global (NASDAQ:PRE) had its price target upped by Benchmark from $30.00 to $40.00 in a report issued on Wednesday,Benzinga reports. Benchmark currently has a buy rating on the stock.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Prenetics Global in a report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Prenetics Global has a consensus rating of “Moderate Buy” and a consensus price target of $34.25.

Prenetics Global Stock Performance

PRE stock opened at $19.58 on Wednesday. The company has a 50 day moving average price of $18.60 and a two-hundred day moving average price of $18.46. The stock has a market capitalization of $330.31 million, a P/E ratio of -4.28 and a beta of 0.26. Prenetics Global has a one year low of $7.18 and a one year high of $23.63.

Prenetics Global (NASDAQ:PRE) last posted its quarterly earnings data on Wednesday, June 10th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.07). Prenetics Global had a negative return on equity of 20.33% and a negative net margin of 62.45%.The business had revenue of $35.95 million for the quarter, compared to analyst estimates of $36.00 million. Research analysts forecast that Prenetics Global will post -1.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Prenetics Global

A number of institutional investors have recently added to or reduced their stakes in PRE. Jane Street Group LLC purchased a new stake in shares of Prenetics Global during the fourth quarter worth about $1,302,000. 683 Capital Management LLC purchased a new position in Prenetics Global in the fourth quarter valued at about $1,181,000. Millennium Management LLC acquired a new stake in Prenetics Global during the 4th quarter valued at approximately $810,000. Marshall Wace LLP acquired a new stake in Prenetics Global during the 4th quarter valued at approximately $788,000. Finally, UBS Group AG increased its holdings in Prenetics Global by 581.9% during 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. Institutional investors and hedge funds own 25.01% of the company’s stock.

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.