Seer, Inc. (NASDAQ:SEER) Sees Large Growth in Short Interest

Seer, Inc. (NASDAQ:SEER) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 978,800 shares, an increase of 31.0% from the October 15th total of 747,300 shares. Currently, 2.3% of the company’s stock are sold short. Based on an average daily volume of 290,000 shares, the days-to-cover ratio is currently 3.4 days.

Analysts Set New Price Targets

Separately, Morgan Stanley cut their target price on Seer from $7.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 13th.

Institutional Investors Weigh In On Seer

Institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in Seer by 5.9% in the third quarter. Geode Capital Management LLC now owns 446,329 shares of the company’s stock valued at $879,000 after buying an additional 25,002 shares during the last quarter. Barclays PLC grew its position in shares of Seer by 34.1% in the 3rd quarter. Barclays PLC now owns 64,426 shares of the company’s stock worth $127,000 after acquiring an additional 16,382 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Seer in the 3rd quarter worth approximately $123,000. Quadrature Capital Ltd increased its holdings in shares of Seer by 301.7% in the 3rd quarter. Quadrature Capital Ltd now owns 57,088 shares of the company’s stock valued at $112,000 after acquiring an additional 42,875 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of Seer by 194.9% during the 3rd quarter. GSA Capital Partners LLP now owns 127,868 shares of the company’s stock valued at $252,000 after acquiring an additional 84,515 shares in the last quarter. Institutional investors and hedge funds own 75.20% of the company’s stock.

Seer Trading Down 4.5 %

NASDAQ SEER traded down $0.11 during trading hours on Friday, reaching $2.31. 492,426 shares of the company traded hands, compared to its average volume of 446,587. The stock has a market capitalization of $141.90 million, a PE ratio of -1.78 and a beta of 1.45. Seer has a 12 month low of $1.46 and a 12 month high of $2.50. The company has a 50 day moving average of $1.93 and a two-hundred day moving average of $1.86.

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.