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

Freenome (NASDAQ:FRNM) saw a large increase in short interest in September. As of September 30th, there was short interest totaling 3,400,130 shares, an increase of 100.4% from the September 15th total of 1,696,752 shares. Currently, 4.1% of the company’s shares are sold short. Based on an average daily trading volume, of 1,040,359 shares, the days-to-cover ratio is currently 3.3 days.

Analyst Ratings Changes

FRNM has been the subject of a number of recent research reports. TD Cowen assumed coverage on Freenome in a research note on Tuesday, August 18th. They issued a “buy” rating and a $17.00 target price for the company. Weiss Ratings began coverage on shares of Freenome in a research report on Monday, August 24th. They set a “sell (d+)” rating on the stock. Guggenheim began coverage on shares of Freenome in a report on Thursday, August 20th. They issued a “buy” rating and a $21.00 price objective for the company. Jefferies Financial Group started coverage on shares of Freenome in a report on Monday, August 17th. They issued a “buy” rating and a $17.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Freenome to a “sell” rating in a research report on Saturday, September 26th. Five research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Freenome currently has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Freenome Price Performance

Shares of FRNM stock traded down $0.54 during trading on Wednesday, hitting $12.10. 175,107 shares of the stock traded hands, compared to its average volume of 872,030. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -201.63 and a beta of 0.44. The firm’s fifty day moving average price is $15.14. Freenome has a 52-week low of $9.97 and a 52-week high of $17.50.

About Freenome

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.