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

Freenome (NASDAQ:FRNM)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $15.25 and last traded at $15.1950, with a volume of 79090 shares traded. The stock had previously closed at $14.79.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FRNM. TD Cowen assumed coverage on shares of Freenome in a research note on Tuesday, August 18th. They issued a “buy” rating and a $17.00 price objective for the company. BTIG Research began coverage on shares of Freenome in a research note on Monday, August 17th. They issued a “buy” rating and a $17.00 price target for the company. Guggenheim assumed coverage on shares of Freenome in a report on Thursday, August 20th. They issued a “buy” rating and a $21.00 target price on the stock. Jefferies Financial Group assumed coverage on shares of Freenome in a research report on Monday, August 17th. They set a “buy” rating and a $17.00 price target for the company. Finally, Leerink Partners started coverage on shares of Freenome in a report on Friday, August 14th. They issued an “outperform” rating and a $18.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Freenome Stock Up 1.1%

The stock has a market capitalization of $1.61 billion, a PE ratio of -249.81 and a beta of 0.35.

Freenome Company Profile

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.