Freenome (NASDAQ:FRNM) Stock Price Down 9.1% – Here’s What Happened

Freenome (NASDAQ:FRNM) fell 9.1% during mid-day trading on Thursday. The stock traded as low as $10.53 and last traded at $10.5130. 109,817 shares were traded during mid-day trading, a decline of 87% from the average session volume of 847,673 shares. The stock had previously closed at $11.56.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on FRNM shares. Leerink Partners began coverage on Freenome in a research note on Friday, August 14th. They issued an “outperform” rating and a $18.00 target price for the company. TD Cowen assumed coverage on Freenome in a research report on Tuesday, August 18th. They set a “buy” rating and a $17.00 price target for the company. Weiss Ratings started coverage on Freenome in a research note on Monday, August 24th. They set a “sell (d+)” rating on the stock. Jefferies Financial Group assumed coverage on Freenome in a report on Monday, August 17th. They issued a “buy” rating and a $17.00 price objective on the stock. Finally, Guggenheim started coverage on Freenome in a research note on Thursday, August 20th. They issued a “buy” rating and a $21.00 price objective for the company. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Freenome presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.

Freenome Stock Performance

The firm has a market cap of $1.17 billion, a PE ratio of 21.29 and a beta of 0.60. The company has a 50 day simple moving average of $14.20.

Freenome (NASDAQ:FRNM) last issued its earnings results on Tuesday, November 10th. The company reported $1.10 earnings per share (EPS) for the quarter. The business had revenue of $183.49 million for the quarter, compared to analysts’ expectations of $106.50 million.

Freenome Company Profile

Freenome is a biotechnology company developing blood-based tests intended to detect cancer at earlier stages. Its approach combines analysis of biological signals—including DNA and other biomarkers—with computational tools to identify patterns associated with disease. The company’s research has focused on multiomics screening, particularly for colorectal cancer. Freenome has evaluated its blood-based colorectal cancer test in clinical studies; the test is investigational, and its availability and regulatory status may vary.