Seer, Inc. (NASDAQ:SEER) Shares Shorted: Short Interest Down 40.1% in September

Seer, Inc. (NASDAQ:SEER) was the target of a large decline in short interest in September. As of September 15th, there was short interest totaling 87,329 shares, a decline of 40.1% from the August 31st total of 145,773 shares. Based on an average daily trading volume, of 157,532 shares, the short-interest ratio is presently 0.6 days. Approximately 0.2% of the shares of the stock are sold short.

Seer Price Performance

NASDAQ:SEER traded down $0.03 on Thursday, reaching $2.20. The stock had a trading volume of 311,440 shares, compared to its average volume of 570,278. Seer has a 12-month low of $1.55 and a 12-month high of $2.41. The company has a market cap of $121.81 million, a price-to-earnings ratio of -1.80 and a beta of 1.50. The firm’s fifty day moving average is $2.02 and its two-hundred day moving average is $1.90.

Seer (NASDAQ:SEER) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.04). The firm had revenue of $3.10 million for the quarter, compared to analysts’ expectations of $3.55 million. Seer had a negative return on equity of 27.23% and a negative net margin of 478.05%.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Seer in a report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Seer currently has a consensus rating of “Buy” and a consensus price target of $4.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Rangeley Capital LLC lifted its stake in shares of Seer by 821.5% during the 1st quarter. Rangeley Capital LLC now owns 184,302 shares of the company’s stock worth $310,000 after purchasing an additional 164,302 shares during the period. T3 Companies LLC acquired a new position in Seer in the fourth quarter valued at $242,000. NewEdge Advisors LLC purchased a new position in Seer during the first quarter worth about $132,000. Corient Private Wealth LP boosted its stake in Seer by 15.8% in the 2nd quarter. Corient Private Wealth LP now owns 73,200 shares of the company’s stock worth $122,000 after buying an additional 10,000 shares during the last quarter. Finally, Marquette Asset Management LLC acquired a new stake in Seer in the 2nd quarter worth about $103,000. 75.20% of the stock is currently owned by institutional investors and hedge funds.

Seer Company Profile

Seer, Inc is a life sciences technology company that develops tools for large-scale protein analysis, or proteomics. Its platform is designed to help researchers study the proteins present in biological samples, supporting applications in drug discovery, biomarker research, translational research and the development of precision medicine.

The company’s principal offering is the Proteograph Product Suite, which uses proprietary nanoparticle technology to provide broad and rapid access to the proteome.