Seer (NASDAQ:SEER) Shares Up 0.5% - Here's What Happened

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.

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

Seer Stock Performance

The firm has a 50 day moving average price of $2.12 and a two-hundred day moving average price of $2.06.

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

Insider Buying and Selling at Seer

In other news, Director Dipchand Nishar sold 30,253 shares of the stock in a transaction on Friday, June 13th. The stock was sold at an average price of $2.08, for a total transaction of $62,926.24. Following the completion of the transaction, the director owned 49,204 shares in the company, valued at approximately $102,344.32. This represents a 38.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Omid Farokhzad sold 33,992 shares of the stock in a transaction dated Wednesday, August 20th. The stock was 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 $2,595,018.72. This trade represents a 2.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,072 shares of company stock valued at $146,197 in the last quarter. 11.28% of the stock is owned by corporate insiders.

Institutional Trading of Seer

Institutional investors have recently added to or reduced their stakes in the stock. Occudo Quantitative Strategies LP purchased a new stake in Seer during the 2nd quarter worth about $25,000. Quadrature Capital Ltd bought a new stake in shares of Seer during the 2nd quarter valued at about $47,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Seer during the 4th quarter valued at about $103,000. OMERS ADMINISTRATION Corp bought a new stake in shares of Seer during the 4th quarter valued at about $114,000. Finally, Corient Private Wealth LLC boosted its position in shares of 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 acquiring an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 75.20% of the company's stock.

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.