Seer (NASDAQ:SEER) Shares Down 0.9% - Here's What Happened

Key Points

• Seer, Inc. (NASDAQ:SEER) shares fell 0.9% to close at $2.18, with a trading volume decrease of 12% from the average volume.
• The company reported a quarterly earnings surprise, achieving revenues of $4.21 million, surpassing the expected $3.25 million, and EPS of ($0.34), beating estimates of ($0.37).
• Insider activity included Director Dipchand Nishar selling 30,253 shares at $2.08, decreasing his ownership by 38.07%, highlighting a significant reduction in insider holdings.

Seer, Inc. (NASDAQ:SEER - Get Free Report) shares traded down 0.9% on Tuesday . The company traded as low as $2.12 and last traded at $2.18. 82,025 shares were traded during mid-day trading, a decline of 12% from the average session volume of 92,871 shares. The stock had previously closed at $2.20.

Seer Stock Performance

The company has a market cap of $125.39 million, a price-to-earnings ratio of -1.51 and a beta of 1.57. The stock's fifty day moving average is $2.12 and its two-hundred day moving average is $2.08.

Seer (NASDAQ:SEER - Get Free Report) last posted its earnings results on Tuesday, May 13th. The company reported ($0.34) earnings per share for the quarter, topping analysts' consensus estimates of ($0.37) by $0.03. Seer had a negative net margin of 560.90% and a negative return on equity of 24.69%. The company had revenue of $4.21 million for the quarter, compared to analyst estimates of $3.25 million. On average, equities research analysts expect that Seer, Inc. will post -1.42 EPS for the current year.

Insider Buying and Selling at Seer

In related news, Director Dipchand Nishar sold 30,253 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $2.08, for a total transaction of $62,926.24. Following the transaction, the director directly owned 49,204 shares of the company's stock, valued at $102,344.32. This trade represents a 38.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC bought a new position in shares of Seer during the fourth quarter valued at about $103,000. OMERS ADMINISTRATION Corp bought a new position in shares of Seer during the fourth quarter valued at about $114,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Seer during the fourth quarter valued at about $179,000. Goldman Sachs Group Inc. lifted its position in shares of Seer by 51.6% during the first quarter. Goldman Sachs Group Inc. now owns 170,897 shares of the company's stock valued at $289,000 after purchasing an additional 58,173 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Seer by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 127,711 shares of the company's stock valued at $295,000 after purchasing an additional 5,000 shares in the last quarter. 75.20% of the stock is owned by institutional investors.

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.