Seer, Inc. (NASDAQ:SEER) Sees Significant Increase in Short Interest

Seer, Inc. (NASDAQ:SEER) saw a significant increase in short interest in the month of 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 shares of the company are sold short. Based on an average trading volume of 290,000 shares, the days-to-cover ratio is presently 3.4 days.

Seer Stock Down 4.5 %

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

Analyst Ratings Changes

Separately, Morgan Stanley reduced their target price on shares of Seer from $7.00 to $3.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 13th.

Institutional Trading of Seer

A number of institutional investors and hedge funds have recently made changes to their positions in SEER. Acadian Asset Management LLC increased its position in Seer by 233.7% during the first quarter. Acadian Asset Management LLC now owns 1,329,823 shares of the company’s stock worth $2,525,000 after acquiring an additional 931,260 shares during the period. Point72 DIFC Ltd acquired a new stake in Seer in the 2nd quarter worth $35,000. Cubist Systematic Strategies LLC acquired a new position in shares of Seer during the second quarter valued at about $133,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Seer during the first quarter worth about $35,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in Seer by 74.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 59,580 shares of the company’s stock valued at $114,000 after acquiring an additional 25,441 shares in the last quarter. Institutional investors and hedge funds own 75.20% of the company’s stock.

About Seer

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.