Seer (NASDAQ:SEER) Stock Price Up 0.5% - Time to Buy?

Key Points

• Seer, Inc. experienced a 0.5% increase in stock price, closing at $2.05, with trading volume significantly higher than average at approximately 263,987 shares.
• The company reported earnings of ($0.33) EPS, which exceeded analysts' estimates, with revenues of $4.05 million for the quarter compared to expectations of $3.75 million.
• Institutional investors hold a significant stake in Seer, with 75.20% of the company's stock owned by them, reflecting increased interest and investment from hedge funds.

Seer, Inc. (NASDAQ:SEER - Get Free Report) traded up 0.5% during mid-day trading on Wednesday . The company traded as high as $2.08 and last traded at $2.05. 263,987 shares changed hands during mid-day trading, an increase of 102% from the average session volume of 130,845 shares. The stock had previously closed at $2.04.

Seer Stock Performance

The company has a market capitalization of $117.19 million, a P/E ratio of -1.50 and a beta of 1.57. The business's fifty day simple moving average is $2.12 and its 200-day simple moving average is $2.06.

Seer (NASDAQ:SEER - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.39) by $0.06. The company had revenue of $4.05 million for the quarter, compared to the consensus estimate of $3.75 million. Seer had a negative net margin of 506.15% and a negative return on equity of 25.10%. As a group, analysts forecast that Seer, Inc. will post -1.42 EPS for the current year.

Insiders Place Their Bets

In other Seer news, CEO Omid Farokhzad sold 33,992 shares of Seer stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $2.04, for a total value of $69,343.68. Following the sale, the chief executive officer directly owned 1,272,068 shares in the company, valued at approximately $2,595,018.72. The trade was a 2.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dipchand Nishar sold 30,253 shares of Seer stock in a transaction on Friday, June 13th. The shares were sold at an average price of $2.08, for a total transaction of $62,926.24. Following the completion of the sale, the director owned 49,204 shares in the company, valued at approximately $102,344.32. This represents a 38.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,072 shares of company stock worth $146,197. 11.28% of the stock is currently owned by insiders.

Institutional Trading of Seer

A number of institutional investors and hedge funds have recently bought and sold shares of SEER. Occudo Quantitative Strategies LP bought a new position in Seer during the 2nd quarter valued at about $25,000. Quadrature Capital Ltd bought a new position in Seer during the 2nd quarter valued at about $47,000. Schonfeld Strategic Advisors LLC bought a new position in Seer during the 4th quarter valued at about $103,000. OMERS ADMINISTRATION Corp bought a new position in Seer during the 4th quarter valued at about $114,000. Finally, Corient Private Wealth LLC grew its holdings in Seer by 46.3% during the 2nd quarter. Corient Private Wealth LLC now owns 63,200 shares of the company's stock valued at $135,000 after purchasing an additional 20,000 shares during the last quarter. 75.20% of the stock is currently owned by institutional investors.

Seer Company Profile

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.