Seres Therapeutics (NASDAQ:MCRB) Trading Down 5.9%

Posted by Stuart Ham on May 26th, 2023

Seres Therapeutics, Inc. (NASDAQ:MCRB – Get Rating) shares traded down 5.9% during mid-day trading on Wednesday . The stock traded as low as $4.73 and last traded at $4.75. 592,963 shares were traded during trading, a decline of 71% from the average session volume of 2,056,209 shares. The stock had previously closed at $5.05.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. StockNews.com downgraded Seres Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday. Chardan Capital decreased their price target on Seres Therapeutics from $12.00 to $10.00 in a research note on Friday, April 28th. Canaccord Genuity Group upped their price target on Seres Therapeutics from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Tuesday, March 21st. HC Wainwright restated a “buy” rating and set a $25.00 target price on shares of Seres Therapeutics in a research note on Wednesday, March 8th. Finally, JPMorgan Chase & Co. initiated coverage on Seres Therapeutics in a research note on Friday, April 21st. They set a “neutral” rating and a $7.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.00.

Seres Therapeutics Trading Down 4.1 %

The company has a debt-to-equity ratio of 4.69, a quick ratio of 1.82 and a current ratio of 1.82. The business has a 50 day moving average price of $5.57 and a 200-day moving average price of $5.73.

Seres Therapeutics (NASDAQ:MCRB – Get Rating) last posted its quarterly earnings results on Tuesday, March 7th. The biotechnology company reported ($0.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.13). The business had revenue of $0.98 million during the quarter, compared to the consensus estimate of $9.04 million. Seres Therapeutics had a negative net margin of 3,509.50% and a negative return on equity of 1,977.08%. As a group, equities analysts expect that Seres Therapeutics, Inc. will post -0.89 earnings per share for the current fiscal year.

Insider Activity at Seres Therapeutics

In other news, insider David S. Ege sold 7,038 shares of Seres Therapeutics stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $5.19, for a total transaction of $36,527.22. Following the sale, the insider now directly owns 59,696 shares of the company’s stock, valued at $309,822.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.20% of the stock is currently owned by insiders.

Institutional Trading of Seres Therapeutics

Hedge funds have recently made changes to their positions in the company. Great West Life Assurance Co. Can acquired a new stake in shares of Seres Therapeutics during the third quarter valued at about $27,000. Metropolitan Life Insurance Co NY raised its position in shares of Seres Therapeutics by 199.6% during the third quarter. Metropolitan Life Insurance Co NY now owns 4,264 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 2,841 shares during the last quarter. Macroview Investment Management LLC bought a new position in shares of Seres Therapeutics during the first quarter worth about $33,000. Bridgefront Capital LLC bought a new position in shares of Seres Therapeutics during the fourth quarter worth about $58,000. Finally, Victory Capital Management Inc. bought a new position in shares of Seres Therapeutics during the third quarter worth about $68,000. 90.16% of the stock is owned by institutional investors and hedge funds.

Seres Therapeutics Company Profile

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Seres Therapeutics, Inc engages in the development of biological drugs through microbiome therapeutics platform. Its product pipeline includes SER-109, SER-287, SER-301, and SER-401. The company was founded by Geoffrey von Maltzahn, David A. Berry, and Noubar B. Afeyan on October 18, 2010 and is headquartered in Cambridge, MA.