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

Seer, Inc. (NASDAQ:SEER)’s share price crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred 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.

Analyst Upgrades and Downgrades

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

Seer Trading Down 13.4%

The firm has a market capitalization of $93.02 million, a price-to-earnings ratio of -1.38 and a beta of 1.47. The firm has a 50 day moving average price of $2.01 and a two-hundred day moving average price of $1.92.

Seer (NASDAQ:SEER) last posted its earnings results on Tuesday, August 11th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.04). The business had revenue of $3.10 million for the quarter, compared to analyst estimates 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

Several institutional investors have recently bought and sold shares of SEER. Rangeley Capital LLC increased its position in shares of Seer by 821.5% in the first quarter. Rangeley Capital LLC now owns 184,302 shares of the company’s stock worth $310,000 after acquiring an additional 164,302 shares in the last quarter. NewEdge Advisors LLC purchased a new position in shares of Seer in the 1st quarter valued at $132,000. Corient Private Wealth LP lifted its holdings in shares of Seer by 15.8% during the 2nd quarter. Corient Private Wealth LP now owns 73,200 shares of the company’s stock valued at $122,000 after acquiring an additional 10,000 shares in the last quarter. Covestor Ltd acquired a new position in shares of Seer during the 3rd quarter valued at $109,000. Finally, Marquette Asset Management LLC acquired a new position in shares of Seer during the 2nd quarter valued at $103,000. 75.20% of the stock is currently owned by hedge funds and other institutional investors.

Seer Company Profile

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.