Freenome (NASDAQ:FRNM) Hits New 1-Year High – Time to Buy?

Freenome (NASDAQ:FRNM)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.17 and last traded at $16.54, with a volume of 621948 shares traded. The stock had previously closed at $16.31.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. BTIG Research initiated coverage on shares of Freenome in a research report on Monday, August 17th. They set a “buy” rating and a $17.00 price target for the company. Jefferies Financial Group began coverage on shares of Freenome in a report on Monday, August 17th. They issued a “buy” rating and a $17.00 price objective on the stock. Guggenheim initiated coverage on shares of Freenome in a research report on Thursday, August 20th. They set a “buy” rating and a $21.00 target price for the company. TD Cowen initiated coverage on shares of Freenome in a report on Tuesday, August 18th. They set a “buy” rating and a $17.00 target price for the company. Finally, Weiss Ratings started coverage on shares of Freenome in a research report on Monday, August 24th. They issued a “sell (d+)” rating on the stock. Five research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $18.00.

Freenome Trading Down 1.0%

The stock has a market cap of $1.73 billion, a P/E ratio of -275.62 and a beta of 0.48.

About Freenome

Freenome is a biotechnology company developing blood-based tests designed to detect cancer at earlier, more treatable stages. The company combines artificial intelligence with multiomics analysis, examining biological signals in blood—including genetic, immune and other molecular indicators—to identify cancer-related patterns.

Freenome’s research and development efforts have focused on noninvasive screening for colorectal cancer, with additional programs targeting other cancers. Its platform is intended to support earlier detection and may also have applications in cancer monitoring and treatment-related decision-making.

Founded in 2014 and based in California, Freenome has pursued collaborations with healthcare and biopharmaceutical organizations to advance its testing technology.