ValuEngine upgraded shares of Seres Therapeutics (NASDAQ:MCRB) from a sell rating to a hold rating in a research note published on Thursday morning, ValuEngine reports.
MCRB has been the topic of several other reports. Cowen restated a buy rating on shares of Seres Therapeutics in a research note on Tuesday, May 7th. BidaskClub cut Seres Therapeutics from a hold rating to a sell rating in a research note on Friday, May 3rd. HC Wainwright restated a buy rating and set a $8.00 price objective on shares of Seres Therapeutics in a research note on Friday, May 3rd. Chardan Capital restated a buy rating on shares of Seres Therapeutics in a research note on Monday, June 17th. Finally, Jefferies Financial Group dropped their price objective on Seres Therapeutics from $6.00 to $4.00 and set a hold rating on the stock in a research note on Monday, July 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $10.25.
NASDAQ:MCRB traded down $0.36 during trading hours on Thursday, hitting $2.42. 309,742 shares of the company traded hands, compared to its average volume of 369,365. The business’s 50-day simple moving average is $2.85. Seres Therapeutics has a one year low of $2.02 and a one year high of $9.26.
Seres Therapeutics (NASDAQ:MCRB) last issued its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.12). The business had revenue of $7.32 million during the quarter, compared to analyst estimates of $8.61 million. Equities research analysts forecast that Seres Therapeutics will post -1.75 earnings per share for the current year.
In other Seres Therapeutics news, Director Noubar Afeyan bought 8,888,888 shares of the stock in a transaction dated Tuesday, June 18th. The shares were bought at an average cost of $2.25 per share, for a total transaction of $19,999,998.00. Following the purchase, the director now directly owns 15,141 shares of the company’s stock, valued at approximately $34,067.25. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 37.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale raised its holdings in Seres Therapeutics by 64.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 32,600 shares of the biotechnology company’s stock worth $94,000 after purchasing an additional 12,800 shares during the period. ARK Investment Management LLC raised its holdings in Seres Therapeutics by 33.1% in the 2nd quarter. ARK Investment Management LLC now owns 7,038,885 shares of the biotechnology company’s stock worth $22,665,000 after purchasing an additional 1,751,172 shares during the period. Nikko Asset Management Americas Inc. raised its holdings in Seres Therapeutics by 491.7% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 4,843,074 shares of the biotechnology company’s stock worth $15,595,000 after purchasing an additional 4,024,575 shares during the period. Claraphi Advisory Network LLC bought a new position in Seres Therapeutics in the 2nd quarter worth $83,000. Finally, SG Americas Securities LLC bought a new position in Seres Therapeutics in the 2nd quarter worth $34,000. Institutional investors own 82.03% of the company’s stock.
About Seres Therapeutics
Seres Therapeutics, Inc, a microbiome therapeutics platform company, engages in developing biological drugs that are designed to treat disease by restoring the function of a dysbiotic microbiome. The company's advanced program is the SER-109, which is in Phase III clinical development for reducing recurrent clostridium difficile infection (CDI).
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