Seer (NASDAQ:SEER) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Seer (NASDAQ:SEER) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Seer Inc. is a life sciences company. It engages in developing Proteograph(TM), which is an integrated solution consisting of consumables, automation instrumentation and proprietary software. Seer Inc. is based in REDWOOD CITY, Calif. “

Separately, Cowen assumed coverage on Seer in a research report on Friday, October 15th. They set an outperform rating on the stock.

SEER opened at $19.59 on Wednesday. Seer has a 12-month low of $17.50 and a 12-month high of $86.55. The business’s fifty day simple moving average is $24.05 and its 200-day simple moving average is $30.81. The company has a market capitalization of $1.21 billion and a price-to-earnings ratio of -14.20.

Seer (NASDAQ:SEER) last posted its quarterly earnings results on Tuesday, November 9th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.01). The firm had revenue of $2.16 million during the quarter, compared to analyst estimates of $1.33 million. On average, equities analysts forecast that Seer will post -1.19 EPS for the current fiscal year.

In related news, CFO David R. Horn sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 1st. The stock was sold at an average price of $37.78, for a total transaction of $377,800.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Omead Ostadan sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 15th. The shares were sold at an average price of $30.50, for a total value of $610,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,273 shares of company stock worth $1,982,091. 28.87% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SEER. BlackRock Inc. boosted its holdings in Seer by 58.3% in the third quarter. BlackRock Inc. now owns 4,079,920 shares of the company’s stock worth $140,882,000 after acquiring an additional 1,502,471 shares in the last quarter. Pura Vida Investments LLC boosted its holdings in Seer by 238.8% in the third quarter. Pura Vida Investments LLC now owns 857,306 shares of the company’s stock worth $29,603,000 after acquiring an additional 604,265 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Seer by 150.7% in the third quarter. Geode Capital Management LLC now owns 673,781 shares of the company’s stock worth $23,265,000 after acquiring an additional 405,004 shares in the last quarter. Morgan Stanley raised its stake in shares of Seer by 50.5% in the third quarter. Morgan Stanley now owns 1,002,985 shares of the company’s stock worth $34,632,000 after purchasing an additional 336,514 shares during the last quarter. Finally, Caas Capital Management LP raised its stake in shares of Seer by 1,545.6% in the second quarter. Caas Capital Management LP now owns 329,114 shares of the company’s stock worth $10,788,000 after purchasing an additional 309,114 shares during the last quarter. 84.71% of the stock is owned by institutional investors and hedge funds.

About Seer

Seer, Inc, a life sciences company, engages in developing and commercializing products for researchers to unlock biological information. The company develops Proteograph Product Suite, an integrated solution that comprises consumables, an automation instrumentation, and software that provides workflow to make proteomic profiling, and the analysis of the samples needed to characterize the nature of the proteome.

Further Reading: What is an Initial Public Offering (IPO)?

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