Freenome (NASDAQ:FRNM) Short Interest Up 217.8% in August

Freenome (NASDAQ:FRNM) saw a large increase in short interest in August. As of August 14th, there was short interest totaling 1,416,509 shares, an increase of 217.8% from the July 30th total of 445,737 shares. Based on an average trading volume of 808,742 shares, the days-to-cover ratio is currently 1.8 days. Approximately 22.3% of the shares of the stock are short sold.

Freenome Price Performance

FRNM stock traded up $0.85 during trading on Friday, hitting $14.79. The company had a trading volume of 1,713,975 shares, compared to its average volume of 859,324. Freenome has a one year low of $9.97 and a one year high of $15.09. The stock has a market capitalization of $120.69 million, a PE ratio of -246.46 and a beta of 0.35.

Wall Street Analysts Forecast Growth

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

Freenome Company Profile

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.