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

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

Analyst Upgrades and Downgrades

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

Freenome Stock Up 9.8%

The company has a market cap of $1.74 billion, a PE 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.