Freenome (NASDAQ:FRNM) Hits New 12-Month High – What’s Next?

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on FRNM shares. Guggenheim initiated coverage on shares of Freenome in a research note on Thursday, August 20th. They set a “buy” rating and a $21.00 price objective 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 target price for the company. Leerink Partners started coverage on shares of Freenome in a research note on Friday, August 14th. They set an “outperform” rating and a $18.00 price target for the company. Weiss Ratings initiated coverage on shares of Freenome in a report on Monday, August 24th. They set a “sell (d+)” rating on the stock. Finally, BTIG Research started coverage on shares of Freenome in a research report on Monday, August 17th. They issued a “buy” rating and a $17.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Freenome Stock Performance

The stock has a market cap of $1.73 billion, a PE 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.