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

Seer, Inc. (NASDAQ:SEER - Get Free Report) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totalling 3,290,000 shares, a growth of 19.2% from the April 15th total of 2,760,000 shares. Based on an average daily volume of 525,000 shares, the days-to-cover ratio is presently 6.3 days. Approximately 7.1% of the shares of the stock are sold short.

Analyst Ratings Changes

Separately, Morgan Stanley reaffirmed an "equal weight" rating and set a $7.00 price objective on shares of Seer in a research report on Tuesday, March 5th.

Insiders Place Their Bets

In other Seer news, CEO Omid Farokhzad sold 52,857 shares of the company's stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $2.03, for a total value of $107,299.71. Following the completion of the transaction, the chief executive officer now directly owns 1,436,285 shares in the company, valued at approximately $2,915,658.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 15.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Seer

A number of institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Seer during the first quarter valued at approximately $35,000. SG Americas Securities LLC purchased a new position in Seer during the third quarter valued at approximately $56,000. Quadrature Capital Ltd purchased a new position in Seer during the first quarter valued at approximately $56,000. Deutsche Bank AG raised its position in Seer by 27.3% during the third quarter. Deutsche Bank AG now owns 25,611 shares of the company's stock valued at $57,000 after acquiring an additional 5,485 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Seer by 66.8% during the third quarter. State Board of Administration of Florida Retirement System now owns 31,071 shares of the company's stock valued at $69,000 after acquiring an additional 12,443 shares in the last quarter. Institutional investors and hedge funds own 75.20% of the company's stock.

Seer Price Performance

NASDAQ SEER traded down $0.02 during trading on Wednesday, hitting $2.14. The company's stock had a trading volume of 327,347 shares, compared to its average volume of 470,402. The business's 50 day simple moving average is $1.91 and its 200-day simple moving average is $1.79. Seer has a fifty-two week low of $1.46 and a fifty-two week high of $5.65.

Seer (NASDAQ:SEER - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.28) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.07. Seer had a negative return on equity of 20.69% and a negative net margin of 529.52%. The business had revenue of $4.44 million during the quarter, compared to the consensus estimate of $4.24 million. As a group, equities analysts expect that Seer will post -1.22 EPS for the current fiscal year.

About Seer

Seer, Inc, a life sciences company, engages in developing and commercializing products to decode the biology of the proteome. It develops Proteograph Product Suite, an integrated solution that includes proprietary engineered nanoparticles, consumables, automation instrumentation, and software to perform proteomic analysis to provide a solution that can be incorporated by nearly any lab for research use only.

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