Seer downgraded to Underperform from Neutral at BofA

BofA analyst Derik de Bruin downgraded Seer to Underperform from Neutral with a price target of $6.50, down from $9. While he remains positive on Seer’s technology and the "promise of unbiased proteomics," he sees few near-term catalysts and limited upside to current revenue estimates, de Bruin tells investors. He also sees limited investor interest for such "unprofitable long-tail growth stories" continuing into 2023, the analyst added.