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

Seer, Inc. (NASDAQ:SEER) was the target 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. Approximately 2.3% of the shares of the stock are sold short. Based on an average daily volume of 290,000 shares, the days-to-cover ratio is presently 3.4 days.

Seer Stock Down 4.5 %

NASDAQ SEER traded down $0.11 during trading on Friday, hitting $2.31. 492,426 shares of the stock traded hands, compared to its average volume of 446,587. The company has a market capitalization of $141.90 million, a P/E 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 firm has a 50-day simple moving average of $1.93 and a 200-day simple moving average of $1.86.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC raised its stake in Seer by 233.7% during the first quarter. Acadian Asset Management LLC now owns 1,329,823 shares of the company’s stock valued at $2,525,000 after purchasing an additional 931,260 shares in the last quarter. Kent Lake Capital LLC purchased a new stake in shares of Seer during the 1st quarter valued at about $1,425,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Seer in the 2nd quarter valued at about $148,000. GSA Capital Partners LLP grew its position in Seer by 194.9% in the third quarter. GSA Capital Partners LLP now owns 127,868 shares of the company’s stock worth $252,000 after acquiring an additional 84,515 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Seer during the second quarter worth approximately $133,000. 75.20% of the stock is owned by hedge funds and other institutional investors.

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.