$FRNM

Guggenheim Initiates Freenome at Buy With $21 Price Target

TD Cowen Initiates Freenome at Buy With $17 Price Target

Sector Update: Healthcare Stocks Softer Late Afternoon

Healthcare stocks were lower late Monday afternoon, with the NYSE Healthcare Index down 0.3% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.2%.The iShares Biotechnology ETF (IBB) added 1.8%.In corporate news, OmniAb (OABI) unveiled a partnership with Eli Lilly (LLY) on a new ion-channel drug discovery program, while raising its fiscal 2026 cash and cash equivalents guidance. OmniAb shares jumped nearly 13%, and Lilly was up 0.4%.Freenome (FRNM) shares surged past 12% after Jefferies initiated coverage of the stock with a buy rating and a price target of $17.Argenx (ARGX) shares climbed 16% after the company said a phase 3 study evaluating its experimental drug Vyvgart Hytrulo in adults with autoimmune myositis met its main goal.EyePoint (EYPT) shares tumbled 67% after it said its phase 3 Lugano trial testing Duravyu in people with wet age-related macular degeneration failed to achieve its primary endpoint.

Freenome Shares Rise After Jefferies Initiates Coverage

Freenome (FRNM) shares were up more than 11% in Monday trading after Jefferies initiated coverage of the stock with a buy rating and a price target of $17.Trading volume stood at more than 1.1 million shares, compared with a daily average of about 372,000.Price: $12.85, Change: $+1.29, Percent Change: +11.16%

Correction: Jefferies Initiates Freenome at Buy, With $17 Price Target

(Corrects rating in headline.)

BTIG Initiates Freenome at Buy, With $17 Price Target

Jefferies Initiates Freenome at Hold, With $17 Price Target

Leerink Partners Capital Initiates Freenome With Outperform Rating, With $18 Price Target

Freenome, Abbott Laboratories' Colorectal Cancer Screening Test Approved by FDA; Freenome Earns $100 Million Milestone Payment

Freenome (FRNM) and Abbott Laboratories (ABT) said Monday that the US Food and Drug Administration approved SimpleScreen CRC, a blood-based colorectal cancer screening test.The companies said the new blood-based screening option is intended for adults 45 and older who are at average risk for the disease.Under the terms of a commercial agreement between Freenome and Abbott, Freenome will receive a $100 million milestone payment from Abbott for the FDA approval, while Abbott will exclusively commercialize the test in the US this fall.Shares of Freenome were up close to 10% pre-bell.