Seer (NASDAQ:SEER) Shares Up 2.5% – Still a Buy?

Seer, Inc. (NASDAQ:SEER) 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 daily volume of 320,264 shares. The stock had previously closed at $1.98.

Analyst Ratings Changes

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

Seer Stock Performance

The stock has a market cap of $112.40 million, a PE ratio of -1.66 and a beta of 1.47. The stock’s 50-day moving average is $2.02 and its two-hundred day moving average is $1.95.

Seer (NASDAQ:SEER) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.31) earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $3.55 million.

Institutional Trading of Seer

Several institutional investors have recently modified their holdings of SEER. Corient Private Wealth LP boosted its stake in Seer by 15.8% in the second quarter. Corient Private Wealth LP now owns 73,200 shares of the company’s stock valued at $122,000 after acquiring an additional 10,000 shares in the last quarter. Marquette Asset Management LLC acquired 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 in the 1st quarter valued at $132,000. Finally, Rangeley Capital LLC increased its stake in Seer by 821.5% in the first quarter. Rangeley Capital LLC now owns 184,302 shares of the company’s stock valued at $310,000 after purchasing an additional 164,302 shares during the period. Hedge funds and other institutional investors own 75.20% of the company’s stock.

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.