Freenome (NASDAQ:FRNM) Shares Shorted: Short Interest Up 100.4% in September

Freenome (NASDAQ:FRNM) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 3,400,130 shares, a growth of 100.4% from the September 15th total of 1,696,752 shares. Currently, 4.1% of the shares of the stock are sold short. Based on an average trading volume of 1,040,359 shares, the short-interest ratio is currently 3.3 days.

Analysts Set New Price Targets

Several research analysts recently commented on FRNM shares. Leerink Partners assumed coverage on Freenome in a research note on Friday, August 14th. They issued an “outperform” rating and a $18.00 price objective for the company. BTIG Research assumed coverage on shares of Freenome in a research note on Monday, August 17th. They set a “buy” rating and a $17.00 target price on the stock. Wall Street Zen raised shares of Freenome to a “sell” rating in a research note on Saturday, September 26th. Guggenheim began coverage on shares of Freenome in a report on Thursday, August 20th. They set a “buy” rating and a $21.00 target price for the company. Finally, TD Cowen started 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. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Freenome has an average rating of “Moderate Buy” and an average target price of $18.00.

Freenome Stock Performance

FRNM stock traded down $0.54 during mid-day trading on Wednesday, reaching $12.10. The company’s stock had a trading volume of 175,107 shares, compared to its average volume of 872,030. The company’s 50 day moving average price is $15.14. Freenome has a fifty-two week low of $9.97 and a fifty-two week high of $17.50. The stock has a market cap of $1.30 billion, a PE ratio of -201.63 and a beta of 0.44.

Freenome Company Profile

Freenome is a biotechnology company developing blood-based tests designed to detect cancer at early stages. The company combines artificial intelligence, machine learning and multi-omic analysis of blood samples to identify biological signals associated with cancer, including signals from tumors and the immune system.

Freenome’s primary focus has been the development of noninvasive screening tests for colorectal cancer and other common cancers. Its platform is intended to support earlier detection through routine blood draws, with colorectal cancer screening among the company’s most advanced areas of development.