Freenome (NASDAQ:FRNM) Stock Price Down 12.2% – Here’s What Happened

Freenome (NASDAQ:FRNM) dropped 12.2% during mid-day trading on Monday. The stock traded as low as $14.01 and last traded at $13.85. Approximately 287,524 shares traded hands during mid-day trading, a decline of 67% from the average session volume of 859,175 shares. The stock had previously closed at $15.78.

Analyst Ratings Changes

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

Freenome Price Performance

The company has a market capitalization of $1.36 billion, a PE ratio of -210.63 and a beta of 0.44. The firm’s 50-day moving average is $15.14.

Freenome Company Profile

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.