Seer (NASDAQ:SEER) Shares Up 2.5% - Should You Buy?

Key Points

• Seer shares rose 2.5% to $2.03, though trading volume was 62% below the average session volume.
• Analyst sentiment is mixed: two analysts rate the stock a Strong Buy, one rates it Sell, while the overall consensus is Buy with a $4.00 price target. Weiss Ratings separately reaffirmed a “sell (D-)” rating.
• Seer’s latest quarter showed continued financial weakness, with a larger-than-expected loss of $0.31 per share, revenue below estimates at $3.10 million, and a negative net margin of 478.05%.

Shares of Seer, Inc. (NASDAQ:SEER - Get Free Report) shot up 2.5% on Wednesday. The stock traded as high as $2.0999 and last traded at $2.03. 121,993 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 320,264 shares. The stock had previously closed at $1.98.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Seer in a report on Thursday, October 15th. Two analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Seer has an average rating of "Buy" and a consensus target price of $4.00.

Seer Price Performance

The stock has a market cap of $112.40 million, a PE ratio of -1.66 and a beta of 1.47. The business has a fifty day moving average of $2.02 and a 200-day moving average of $1.95.

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

Hedge Funds Weigh In On Seer

Institutional investors have recently bought and sold shares of the business. Corient Private Wealth LP boosted its stake in shares of 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 acquiring an additional 10,000 shares in the last quarter. Marquette Asset Management LLC purchased a new stake in shares of Seer in the second quarter valued at approximately $103,000. NewEdge Advisors LLC acquired a new position in shares of Seer during the 1st quarter worth approximately $132,000. Finally, Rangeley Capital LLC lifted its position in shares of Seer by 821.5% during the 1st quarter. Rangeley Capital LLC now owns 184,302 shares of the company's stock valued at $310,000 after buying an additional 164,302 shares in the last quarter. 75.20% of the stock is owned by hedge funds and other institutional investors.

About Seer

Seer, Inc is a life sciences company that develops technologies for large-scale protein analysis, or proteomics. Its platform is designed to help researchers study the proteins present in biological samples and generate insights into disease biology, drug discovery and the development of precision medicine.

The company's principal offering is the Proteograph Product Suite, which combines proprietary nanoparticle technology with automation, software and next-generation sequencing or mass spectrometry workflows.

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