Freenome (NASDAQ:FRNM) Shares Up 9.9% – Time to Buy?

Shares of Freenome (NASDAQ:FRNM) rose 9.9% during mid-day trading on Thursday . The company traded as high as $16.15 and last traded at $16.1850. 768,684 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 834,418 shares. The stock had previously closed at $14.73.

Analyst Ratings Changes

A number of analysts recently weighed in on FRNM shares. Leerink Partners began coverage on shares of Freenome in a research note on Friday, August 14th. They issued an “outperform” rating and a $18.00 target price on the stock. Guggenheim assumed coverage on shares of Freenome in a research note on Thursday, August 20th. They set a “buy” rating and a $21.00 price target for the company. TD Cowen began coverage on Freenome in a research note on Tuesday, August 18th. They issued a “buy” rating and a $17.00 price objective on the stock. Weiss Ratings began coverage on Freenome in a report on Monday, August 24th. They issued a “sell (d+)” rating for the company. Finally, BTIG Research started coverage on Freenome in a research note on Monday, August 17th. They issued a “buy” rating and a $17.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.00.

Freenome Trading Up 9.8%

The stock has a market cap of $1.74 billion, a P/E ratio of -269.47 and a beta of 0.48.

Freenome Company Profile

Freenome is a biotechnology company developing blood-based tests designed to detect cancer at earlier, more treatable stages. Its approach combines artificial intelligence with multiomics analysis, examining biological signals in blood, including circulating tumor material and other molecular indicators.

The company has focused on noninvasive screening tests for colorectal cancer and other cancers. Freenome’s products remain in development and are being evaluated through clinical research and validation studies; the company’s tests are not described here as broadly approved diagnostic products.

Founded in 2014 and headquartered in the United States, Freenome has worked with healthcare providers, research organizations and pharmaceutical companies to advance its screening technology.