Freenome (NASDAQ:FRNM) Reaches New 12-Month High – Still a Buy?

Freenome (NASDAQ:FRNM)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $17.17 and last traded at $16.54, with a volume of 621948 shares traded. The stock had previously closed at $16.31.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Freenome in a report on Monday, August 17th. They issued a “buy” rating and a $17.00 target price for the company. Leerink Partners initiated coverage on Freenome in a report on Friday, August 14th. They set an “outperform” rating and a $18.00 price target on the stock. TD Cowen began coverage on Freenome in a research report on Tuesday, August 18th. They issued a “buy” rating and a $17.00 price objective on the stock. BTIG Research initiated coverage on Freenome in a research note on Monday, August 17th. They issued a “buy” rating and a $17.00 price objective for the company. Finally, Guggenheim started coverage on Freenome in a research report on Thursday, August 20th. They set a “buy” rating and a $21.00 target price for the company. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Freenome has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Freenome Stock Performance

The stock has a market capitalization of $1.69 billion, a PE ratio of -262.46 and a beta of 0.48.

About Freenome

Freenome is a biotechnology company developing blood-based tests designed to detect cancer at earlier, more treatable stages. The company combines artificial intelligence with multiomics analysis, examining biological signals in blood—including genetic, immune and other molecular indicators—to identify cancer-related patterns.

Freenome’s research and development efforts have focused on noninvasive screening for colorectal cancer, with additional programs targeting other cancers. Its platform is intended to support earlier detection and may also have applications in cancer monitoring and treatment-related decision-making.

Founded in 2014 and based in California, Freenome has pursued collaborations with healthcare and biopharmaceutical organizations to advance its testing technology.