Freenome (NASDAQ:FRNM) Stock Short Interest Report for September

Freenome (NASDAQ:FRNM) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totaling 3,400,130 shares, a growth of 100.4% from the September 15th total of 1,696,752 shares. Based on an average daily trading volume, of 1,040,359 shares, the short-interest ratio is presently 3.3 days. Currently, 4.1% of the company’s stock are sold short.

Freenome Stock Down 1.7%

Shares of FRNM opened at $12.07 on Friday. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -201.73 and a beta of 0.44. Freenome has a 1-year low of $9.97 and a 1-year high of $17.50. The firm’s 50-day moving average is $15.01.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. TD Cowen started coverage on shares of Freenome in a report on Tuesday, August 18th. They issued a “buy” rating and a $17.00 price target on the stock. Weiss Ratings assumed coverage on shares of Freenome in a report on Monday, August 24th. They set a “sell (d+)” rating for the company. BTIG Research initiated coverage on shares of Freenome in a research note on Monday, August 17th. They issued a “buy” rating and a $17.00 target price on the stock. Leerink Partners initiated coverage on shares of Freenome in a research report on Friday, August 14th. They set an “outperform” rating and a $18.00 target price for the company. Finally, Jefferies Financial Group assumed coverage on shares of Freenome in a research note on Monday, August 17th. They set a “buy” rating and a $17.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.00.

About Freenome

Freenome is a biotechnology company developing blood-based tests designed to detect cancer at early stages. The company combines artificial intelligence, machine learning and multi-omic analysis of blood samples to identify biological signals associated with cancer, including signals from tumors and the immune system.

Freenome’s primary focus has been the development of noninvasive screening tests for colorectal cancer and other common cancers. Its platform is intended to support earlier detection through routine blood draws, with colorectal cancer screening among the company’s most advanced areas of development.