Seer, Inc. (NASDAQ:SEER) Sees Large Decrease in Short Interest

Seer, Inc. (NASDAQ:SEER) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 191,696 shares, a drop of 34.8% from the May 31st total of 293,816 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average daily volume of 127,131 shares, the days-to-cover ratio is presently 1.5 days.

Analysts Set New Price Targets

Several research firms have issued reports on SEER. Weiss Ratings restated a “sell (d-)” rating on shares of Seer in a research report on Tuesday, April 21st. Canaccord Genuity Group assumed coverage on Seer in a report on Monday, May 4th. They issued a “buy” rating and a $4.00 price objective on the stock. Finally, TD Cowen raised Seer to a “strong-buy” rating in a research note on Monday, April 13th. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Seer currently has an average rating of “Buy” and a consensus target price of $4.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Occudo Quantitative Strategies LP purchased a new stake in shares of Seer in the 2nd quarter worth about $25,000. Marshall Wace LLP purchased a new position in shares of Seer during the fourth quarter valued at about $85,000. Quadrature Capital Ltd purchased a new position in shares of Seer during the fourth quarter valued at about $101,000. Barclays PLC raised its stake in Seer by 685.0% in the fourth quarter. Barclays PLC now owns 60,717 shares of the company’s stock worth $111,000 after buying an additional 52,982 shares in the last quarter. Finally, Corient Private Wealth LLC bought a new position in Seer in the fourth quarter worth about $116,000. 75.20% of the stock is owned by hedge funds and other institutional investors.

Seer Stock Performance

NASDAQ SEER opened at $1.62 on Friday. The stock has a market cap of $89.07 million, a P/E ratio of -1.31 and a beta of 1.59. Seer has a fifty-two week low of $1.55 and a fifty-two week high of $2.41. The stock has a 50 day simple moving average of $1.79 and a two-hundred day simple moving average of $1.83.

Seer (NASDAQ:SEER) last posted its earnings results on Wednesday, May 13th. The company reported ($0.30) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.30). The firm had revenue of $2.79 million for the quarter, compared to analysts’ expectations of $3.60 million. Seer had a negative return on equity of 26.58% and a negative net margin of 464.78%.

About Seer

Seer, Inc is a life sciences company focused on pioneering next-generation proteomics, the large-scale study of proteins and their functions in complex biological systems. By leveraging proprietary nanoparticle-based technology, Seer’s platform enables high-throughput, unbiased protein analysis from biological samples, addressing a critical bottleneck in drug discovery, biomarker research and precision medicine.

The company’s flagship Proteograph Product Suite combines engineered nanoparticle assays with advanced mass spectrometry and bioinformatics pipelines to deliver deep proteomic coverage in a scalable workflow.