Freenome (NASDAQ:FRNM) Sets New 12-Month High – Time to Buy?

Freenome (NASDAQ:FRNM) shares hit a new 52-week high on Friday . The stock traded as high as $17.25 and last traded at $16.6840, with a volume of 54098 shares trading hands. The stock had previously closed at $16.29.

Analyst Ratings Changes

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

Freenome Price Performance

The firm has a market cap of $1.82 billion, a PE ratio of -282.29 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. 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.