Selecta Biosciences (SELB) Receives Buy Rating from Canaccord Genuity

Canaccord Genuity restated their buy rating on shares of Selecta Biosciences (NASDAQ:SELB) in a report issued on Thursday. Canaccord Genuity currently has a $40.00 price target on the stock.

“We attended investor meetings in Selecta management, and believe 5-dose combination data expected in 3Q18 will be a major positive event for shares. Importantly, Selecta is administering the 4th of 5 combination doses for SVP- rapamycin + pegsiticase, without safety issues, and we would not expect any for the fifth dose. Selecta will present data from multiple cohorts 3Q18, including the 0.15 mg/kg SVP-rapamycin + 0.20 mg/kg pegsiticase dose, and we expect the company to indicate a preferred Phase 3 dose following presentation of the data. Selecta will announce the medical meeting for presentation on its 2Q18 conference call August 8.”,” the firm’s analyst commented.

SELB has been the topic of several other reports. Mizuho reaffirmed a buy rating and set a $30.00 price target on shares of Selecta Biosciences in a research note on Wednesday, April 11th. Zacks Investment Research cut shares of Selecta Biosciences from a hold rating to a strong sell rating in a research note on Wednesday, March 21st. BidaskClub upgraded shares of Selecta Biosciences from a buy rating to a strong-buy rating in a report on Thursday, March 15th. ValuEngine upgraded shares of Selecta Biosciences from a sell rating to a hold rating in a report on Saturday, June 2nd. Finally, Janney Montgomery Scott began coverage on shares of Selecta Biosciences in a report on Wednesday, June 27th. They set a buy rating and a $33.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $28.25.

Selecta Biosciences opened at $13.25 on Thursday, MarketBeat.com reports. Selecta Biosciences has a 12-month low of $7.95 and a 12-month high of $24.02. The stock has a market cap of $296.14 million, a price-to-earnings ratio of -4.14 and a beta of -3.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 7.20 and a current ratio of 7.20.

Selecta Biosciences (NASDAQ:SELB) last released its quarterly earnings results on Wednesday, May 9th. The company reported ($0.71) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.60) by ($0.11). Selecta Biosciences had a negative return on equity of 111.69% and a negative net margin of 31,556.04%. equities research analysts expect that Selecta Biosciences will post -2.88 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. DRW Securities LLC purchased a new position in shares of Selecta Biosciences during the 1st quarter worth about $122,000. Keybank National Association OH purchased a new position in shares of Selecta Biosciences during the 4th quarter worth about $143,000. Two Sigma Advisers LP purchased a new position in shares of Selecta Biosciences during the 4th quarter worth about $143,000. SG Americas Securities LLC purchased a new position in shares of Selecta Biosciences during the 4th quarter worth about $145,000. Finally, Wells Fargo & Company MN lifted its holdings in shares of Selecta Biosciences by 125.8% during the 4th quarter. Wells Fargo & Company MN now owns 23,491 shares of the company’s stock worth $230,000 after acquiring an additional 13,086 shares during the period. Institutional investors and hedge funds own 46.03% of the company’s stock.

Selecta Biosciences Company Profile

Selecta Biosciences, Inc, a clinical-stage biopharmaceutical company, researches and develops nanoparticle immunomodulatory drugs for the treatment and prevention of human diseases. Its proprietary pipeline includes synthetic vaccine particles (SPV)-enabled enzyme, oncology, and gene therapies. The company's lead product is SEL-212 that in Phase II clinical trial to treat severe gout patients and resolve their symptoms, including flares and gouty arthritis.

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