Freenome (NASDAQ:FRNM) Trading Up 9.9% – Here’s What Happened
by Michael Walen · The Markets DailyFreenome (NASDAQ:FRNM – Get Free Report)’s stock price traded up 9.9% during trading on Thursday . The company traded as high as $16.15 and last traded at $16.1850. 768,684 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 834,418 shares. The stock had previously closed at $14.73.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on FRNM shares. TD Cowen assumed coverage on Freenome in a research note on Tuesday, August 18th. They issued a “buy” rating and a $17.00 price objective on the stock. Guggenheim began coverage on shares of Freenome in a research report on Thursday, August 20th. They set a “buy” rating and a $21.00 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. Weiss Ratings started coverage on shares of Freenome in a report on Monday, August 24th. They issued a “sell (d+)” rating on the stock. Finally, BTIG Research assumed coverage on shares of Freenome in a research report on Monday, August 17th. They set a “buy” rating and a $17.00 target price on the stock. Five analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Freenome has a consensus rating of “Moderate Buy” and a consensus price target of $18.00.
Check Out Our Latest Analysis on FRNM
Freenome Price Performance
The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -285.12 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.