Short Interest in Seer, Inc. (NASDAQ:SEER) Declines By 35.1%

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Seer

Institutional investors have recently modified their holdings of the stock. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Seer in the fourth quarter worth about $1,510,000. Rangeley Capital LLC lifted its position in shares of Seer by 821.5% in the first quarter. Rangeley Capital LLC now owns 184,302 shares of the company’s stock worth $310,000 after buying an additional 164,302 shares during the last quarter. T3 Companies LLC acquired a new stake in shares of Seer in the fourth quarter worth about $242,000. Bridgeway Capital Management LLC lifted its position in shares of Seer by 15.5% in the second quarter. Bridgeway Capital Management LLC now owns 837,443 shares of the company’s stock worth $1,792,000 after buying an additional 112,100 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Seer in the second quarter worth about $172,000. Institutional investors and hedge funds own 75.20% of the company’s stock.

Seer Stock Up 1.5%

Shares of NASDAQ:SEER traded up $0.03 during trading on Wednesday, reaching $1.74. 30,021 shares of the company traded hands, compared to its average volume of 306,228. The firm has a fifty day simple moving average of $1.83 and a 200 day simple moving average of $1.84. The firm has a market cap of $95.39 million, a P/E ratio of -1.40 and a beta of 1.59. 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) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.30). The company had revenue of $2.79 million during the quarter, compared to analyst estimates of $3.60 million. Seer had a negative net margin of 464.78% and a negative return on equity of 26.58%.

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.