Seer (NASDAQ:SEER) Stock Breaks Below Two Hundred Day Moving Average – Should You Sell?

Seer, Inc. (NASDAQ:SEER) shares passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $1.92 and traded as low as $1.6150. Seer shares last traded at $1.68, with a volume of 516,539 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Seer in a report on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $4.00.

Seer Stock Down 13.4%

The company has a market capitalization of $93.02 million, a price-to-earnings ratio of -1.38 and a beta of 1.47. The business has a 50-day moving average price of $2.01 and a 200-day moving average price of $1.92.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Covestor Ltd purchased a new position in shares of Seer in the third quarter worth approximately $109,000. Corient Private Wealth LP lifted its position in shares of Seer by 15.8% in the 2nd quarter. Corient Private Wealth LP now owns 73,200 shares of the company’s stock valued at $122,000 after acquiring an additional 10,000 shares in the last quarter. Marquette Asset Management LLC purchased a new stake in shares of Seer in the 2nd quarter valued at approximately $103,000. NewEdge Advisors LLC purchased a new stake in shares of Seer in the 1st quarter valued at approximately $132,000. Finally, Rangeley Capital LLC lifted its position in shares of Seer by 821.5% in the 1st quarter. Rangeley Capital LLC now owns 184,302 shares of the company’s stock valued at $310,000 after acquiring an additional 164,302 shares in the last quarter. 75.20% of the stock is currently owned by institutional investors and hedge funds.

Seer Company Profile

Seer, Inc is a life sciences company that develops technologies for large-scale protein analysis, known as proteomics. The company’s platform is designed to help researchers study a broad range of proteins in biological samples and generate detailed information that may support drug discovery, disease research and biomarker development.

Seer’s primary offering is the Proteograph Product Suite, which combines engineered nanoparticle technology, laboratory consumables, automation and software.