Olink Holding AB (publ) (NASDAQ:OLK) Sees Strong Trading Volume

Olink Holding AB (publ) (NASDAQ:OLK) shares saw an uptick in trading volume on Tuesday . 964,311 shares were traded during mid-day trading, an increase of 66% from the previous session’s volume of 582,652 shares.The stock last traded at $25.55 and had previously closed at $25.55.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on OLK. Morgan Stanley reiterated an “equal weight” rating and issued a $26.00 target price on shares of Olink Holding AB (publ) in a report on Tuesday, March 26th. Canaccord Genuity Group reiterated a “hold” rating and issued a $26.00 target price on shares of Olink Holding AB (publ) in a report on Tuesday, March 26th.

Olink Holding AB (publ) Stock Performance

The firm’s 50 day moving average is $23.58 and its two-hundred day moving average is $24.15. The stock has a market capitalization of $3.17 billion, a PE ratio of -94.59 and a beta of 0.50.

Olink Holding AB (publ) (NASDAQ:OLK) last announced its earnings results on Monday, May 13th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.01). Olink Holding AB (publ) had a negative return on equity of 7.07% and a negative net margin of 19.72%. The business had revenue of $28.75 million for the quarter, compared to analysts’ expectations of $31.29 million. On average, analysts anticipate that Olink Holding AB will post -0.19 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in OLK. FIL Ltd acquired a new position in shares of Olink Holding AB (publ) in the 4th quarter valued at $204,394,000. Westchester Capital Management LLC acquired a new position in shares of Olink Holding AB (publ) in the 4th quarter valued at $50,867,000. Alpine Associates Management Inc. acquired a new position in shares of Olink Holding AB (publ) in the 4th quarter valued at $47,302,000. Rock Springs Capital Management LP boosted its holdings in shares of Olink Holding AB (publ) by 1.4% in the 3rd quarter. Rock Springs Capital Management LP now owns 1,676,500 shares of the company’s stock valued at $24,728,000 after buying an additional 22,500 shares in the last quarter. Finally, Water Island Capital LLC acquired a new position in shares of Olink Holding AB (publ) in the 4th quarter valued at $41,360,000. Institutional investors and hedge funds own 30.19% of the company’s stock.

Olink Holding AB (publ) Company Profile

Olink Holding AB (publ) develops, produces, markets, and sells biotechnological products and services for the academic, government, biopharmaceutical, biotechnology, service provider, and other institutions that focuses on life science research. The company's products include Olink Explore that consist of Explore 372 and Explore 384 for cardiovascular and metabolic, oncology, neurology, and inflammation diseases; Olink Target product line; Olink Flex, a low-plex applications and use-cases; and Olink Focus product line that consists of custom developed solutions for customers that has identified various proteins of interest or a protein signature to focus on.