Freenome (NASDAQ:FRNM) Shares Climb 9.3% – Here’s What Happened

Freenome (NASDAQ:FRNM)’s share price was up 9.3% on Tuesday. The stock traded as high as $13.55 and last traded at $13.7350. Approximately 97,561 shares were traded during trading, a decline of 89% from the average session volume of 862,420 shares. The stock had previously closed at $12.57.

Wall Street Analyst Weigh In

FRNM has been the subject of several research reports. TD Cowen assumed coverage on shares of Freenome in a research report on Tuesday, August 18th. They issued a “buy” rating and a $17.00 target price for the company. Weiss Ratings started coverage on Freenome in a research note on Monday, August 24th. They set a “sell (d+)” rating for the company. Jefferies Financial Group initiated coverage on Freenome in a report on Monday, August 17th. They issued a “buy” rating and a $17.00 price objective for the company. Leerink Partners initiated coverage on Freenome in a research report on Friday, August 14th. They set an “outperform” rating and a $18.00 price objective on the stock. Finally, Wall Street Zen upgraded Freenome to a “sell” rating in a research report on Saturday, September 26th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Freenome Stock Up 9.9%

The firm has a market cap of $1.48 billion, a PE ratio of -230.21 and a beta of 0.44. The company has a fifty day moving average of $14.89.

Freenome Company Profile

Freenome is a biotechnology company developing blood-based tests designed to detect cancer at early stages. The company combines artificial intelligence, machine learning and multi-omic analysis of blood samples to identify biological signals associated with cancer, including signals from tumors and the immune system.

Freenome’s primary focus has been the development of noninvasive screening tests for colorectal cancer and other common cancers. Its platform is intended to support earlier detection through routine blood draws, with colorectal cancer screening among the company’s most advanced areas of development.