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

Seer, Inc. (NASDAQ:SEER) was the recipient of a large decrease in short interest in the month of May. As of May 29th, there was short interest totaling 293,816 shares, a decrease of 35.1% from the May 14th total of 453,019 shares. Based on an average trading volume of 287,229 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.6% of the company’s shares are sold short.

Hedge Funds Weigh In On Seer

Hedge funds have recently added to or reduced their stakes in the stock. Occudo Quantitative Strategies LP acquired a new position in Seer during the 2nd quarter valued at about $25,000. Marshall Wace LLP acquired a new position in Seer during the 4th quarter valued at about $85,000. Quadrature Capital Ltd acquired a new position in Seer during the 4th quarter valued at about $101,000. Barclays PLC boosted its stake in Seer by 685.0% during the 4th quarter. Barclays PLC now owns 60,717 shares of the company’s stock valued at $111,000 after purchasing an additional 52,982 shares during the last quarter. Finally, Corient Private Wealth LLC acquired a new position in Seer during the 4th quarter valued at about $116,000. Institutional investors and hedge funds own 75.20% of the company’s stock.

Seer Price Performance

Shares of SEER traded up $0.03 during trading hours on Tuesday, hitting $1.74. The stock had a trading volume of 85,627 shares, compared to its average volume of 308,082. The firm has a 50 day simple moving average of $1.83 and a 200-day simple moving average of $1.84. The firm has a market capitalization of $95.39 million, a P/E ratio of -1.40 and a beta of 1.60. Seer has a 1-year low of $1.65 and a 1-year high of $2.41.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. TD Cowen upgraded shares of Seer to a “strong-buy” rating in a research report on Monday, April 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Seer in a research report on Tuesday, April 21st. Finally, Canaccord Genuity Group began coverage on shares of Seer in a research report on Monday, May 4th. They issued a “buy” rating and a $4.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Seer presently has an average rating of “Buy” and an average price target of $4.00.

Seer Company Profile

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.