Seer (NASDAQ:SEER) Stock Price Crosses Below 200 Day Moving Average – Here’s What Happened

Seer, Inc. (NASDAQ:SEER) passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $1.92 and traded as low as $1.6150. Seer shares last traded at $1.68, with a volume of 516,539 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Seer in a research note on Thursday, October 15th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $4.00.

Seer Stock Down 13.4%

The firm has a market cap of $93.02 million, a PE ratio of -1.38 and a beta of 1.47. The firm’s 50 day moving average is $2.01 and its 200-day moving average is $1.92.

Seer (NASDAQ:SEER) last released its earnings results on Tuesday, August 11th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.04). The firm had revenue of $3.10 million during the quarter, compared to analysts’ expectations of $3.55 million. Seer had a negative return on equity of 27.23% and a negative net margin of 478.05%.

Institutional Investors Weigh In On Seer

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rangeley Capital LLC increased its stake in Seer by 821.5% in the first quarter. Rangeley Capital LLC now owns 184,302 shares of the company’s stock valued at $310,000 after purchasing an additional 164,302 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in Seer in the 1st quarter worth about $132,000. Marquette Asset Management LLC acquired a new stake in Seer in the 2nd quarter worth about $103,000. Covestor Ltd purchased a new stake in Seer in the 3rd quarter valued at about $109,000. Finally, Corient Private Wealth LP grew its holdings in Seer by 15.8% in the 2nd quarter. Corient Private Wealth LP now owns 73,200 shares of the company’s stock valued at $122,000 after buying an additional 10,000 shares during the period. Hedge funds and other institutional investors own 75.20% of the company’s stock.

About Seer

Seer, Inc is a life sciences company that develops technologies for large-scale protein analysis, known as proteomics. The company’s platform is designed to help researchers study a broad range of proteins in biological samples and generate detailed information that may support drug discovery, disease research and biomarker development.

Seer’s primary offering is the Proteograph Product Suite, which combines engineered nanoparticle technology, laboratory consumables, automation and software.