Activist Group Radoff and Torok Increase Stake to 7.6%, Challenges Board's "Poison Pill"
SEER is trading near its 52-week low of $1.62 (6.2% above the low) on elevated volume (2.0× avg).
Summary
Activist investors Bradley L. Radoff and Michael Torok have increased their stake in Seer, Inc. to 7.6% and are openly criticizing the Board's recent adoption of a "poison pill" as an entrenchment tactic.
Key Events · Ownership and Investor Activity · SEER
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Activist Stake Increased to 7.6%
The Radoff and Torok activist group has increased its aggregate beneficial ownership in Seer, Inc. from 6.5% to 7.6% of outstanding shares, now holding 4,277,528 shares.
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Direct Challenge to Poison Pill
The activist group explicitly states its "deep concern" over the Board's adoption of the Tax Benefit Preservation Plan (NOL Pill) on February 26, 2026, calling it an "entrenchment device" designed to deter a proxy contest. They demand evidence justifying the pill.
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Recent Share Purchases
Bradley L. Radoff purchased 510,232 shares between February 20 and February 26, 2026, and JEC II Associates, LLC purchased 117,296 shares on February 26, 2026.
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Historical Governance Concerns Cited
The filing references the Board's prior attempt to delay the conversion of high-vote Class B common stock, suggesting a pattern of actions perceived as anti-shareholder.
Analysis · SEER · Industrial Applications And Services
This amended Schedule 13D reveals a significant escalation in the activist campaign by Bradley L. Radoff and Michael Torok. The group has increased its aggregate beneficial ownership to 7.6% and is directly challenging the Board's recent adoption of a Tax Benefit Preservation Plan (poison pill), which they view as an entrenchment device. This sets the stage for a potential proxy contest and indicates a deepening conflict between the activist shareholders and the company's current leadership, raising questions about corporate governance and strategic direction. This follows the initial 13D filing on February 20, 2026, and the company's adoption of the poison pill on February 27, 2026.
At the time of this filing, SEER was trading at $1.72 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $104.3M. The 52-week trading range was $1.62 to $2.41. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.