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

Seer, Inc. (NASDAQ:SEER) was the target of a significant decrease in short interest during the month of September. As of September 15th, there was short interest totaling 87,329 shares, a decrease of 40.1% from the August 31st total of 145,773 shares. Based on an average daily volume of 157,532 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.2% of the shares of the company are short sold.

Institutional Trading of Seer

Institutional investors have recently made changes to their positions in the stock. Rangeley Capital LLC grew its holdings in shares of Seer by 821.5% during the 1st quarter. Rangeley Capital LLC now owns 184,302 shares of the company’s stock worth $310,000 after purchasing an additional 164,302 shares in the last quarter. T3 Companies LLC bought a new stake in Seer during the 4th quarter worth $242,000. NewEdge Advisors LLC acquired a new position in shares of Seer in the first quarter valued at approximately $132,000. Marquette Asset Management LLC bought a new position in shares of Seer during the second quarter valued at $103,000. Finally, Corient Private Wealth LP lifted its holdings in Seer by 15.8% during the 2nd quarter. Corient Private Wealth LP now owns 73,200 shares of the company’s stock worth $122,000 after buying an additional 10,000 shares during the period. 75.20% of the stock is currently owned by institutional investors and hedge funds.

Seer Trading Up 1.1%

NASDAQ SEER traded up $0.03 during trading hours on Friday, reaching $2.23. 83,607 shares of the company traded hands, compared to its average volume of 567,679. The stock has a market capitalization of $123.20 million, a PE ratio of -1.82 and a beta of 1.47. Seer has a 12 month low of $1.55 and a 12 month high of $2.41. The company has a 50 day moving average of $2.02 and a two-hundred day moving average of $1.90.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Seer in a research report on Friday, July 17th. Two investment 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 currently has a consensus rating of “Buy” and an average price target of $4.00.

Seer Company Profile

Seer, Inc is a life sciences technology company that develops tools for large-scale protein analysis, or proteomics. Its platform is designed to help researchers study the proteins present in biological samples, supporting applications in drug discovery, biomarker research, translational research and the development of precision medicine.

The company’s principal offering is the Proteograph Product Suite, which uses proprietary nanoparticle technology to provide broad and rapid access to the proteome.