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

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SEER. Russell Investments Group Ltd. increased its holdings in Seer by 13.0% in the 1st quarter. Russell Investments Group Ltd. now owns 94,868 shares of the company’s stock worth $180,000 after acquiring an additional 10,951 shares in the last quarter. Palumbo Wealth Management LLC increased its stake in shares of Seer by 15.1% in the third quarter. Palumbo Wealth Management LLC now owns 122,292 shares of the company’s stock worth $241,000 after purchasing an additional 16,001 shares in the last quarter. Barclays PLC raised its position in shares of Seer by 34.1% during the 3rd quarter. Barclays PLC now owns 64,426 shares of the company’s stock valued at $127,000 after purchasing an additional 16,382 shares during the period. AQR Capital Management LLC bought a new stake in shares of Seer during the 2nd quarter valued at $30,000. Finally, American Century Companies Inc. lifted its stake in shares of Seer by 42.1% during the 2nd quarter. American Century Companies Inc. now owns 61,752 shares of the company’s stock valued at $104,000 after buying an additional 18,302 shares in the last quarter. Institutional investors own 75.20% of the company’s stock.

Seer Trading Down 4.5 %

NASDAQ SEER traded down $0.11 on Friday, hitting $2.31. 492,426 shares of the company traded hands, compared to its average volume of 446,587. The business’s 50 day moving average price is $1.93 and its 200-day moving average price is $1.86. Seer has a 52-week low of $1.46 and a 52-week high of $2.50. The company has a market capitalization of $141.90 million, a price-to-earnings ratio of -1.78 and a beta of 1.45.

Wall Street Analyst Weigh In

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

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.