Freenome (NASDAQ:FRNM) Shares Down 9.1% – Here’s What Happened

Freenome (NASDAQ:FRNM) shares traded down 9.1% during mid-day trading on Thursday. The stock traded as low as $10.53 and last traded at $10.5130. 109,817 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 847,673 shares. The stock had previously closed at $11.56.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. TD Cowen began coverage on shares of Freenome in a report on Tuesday, August 18th. They issued a “buy” rating and a $17.00 target price for the company. Weiss Ratings initiated coverage on shares of Freenome in a report on Monday, August 24th. They issued a “sell (d+)” rating on the stock. Guggenheim initiated coverage on shares of Freenome in a research report on Thursday, August 20th. They issued a “buy” rating and a $21.00 price objective on the stock. 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 objective for the company. Finally, BTIG Research reissued a “buy” rating on shares of Freenome in a research report on Wednesday. Five research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Freenome Stock Performance

The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 21.29 and a beta of 0.60. The firm has a 50 day moving average price of $14.20.

Freenome (NASDAQ:FRNM) last announced its quarterly earnings data on Tuesday, November 10th. The company reported $1.10 EPS for the quarter. The company had revenue of $183.49 million during the quarter, compared to analysts’ expectations of $106.50 million.

About Freenome

Freenome is a biotechnology company developing blood-based tests intended to detect cancer at earlier stages. Its approach combines analysis of biological signals—including DNA and other biomarkers—with computational tools to identify patterns associated with disease. The company’s research has focused on multiomics screening, particularly for colorectal cancer. Freenome has evaluated its blood-based colorectal cancer test in clinical studies; the test is investigational, and its availability and regulatory status may vary.