Seres Therapeutics’ (MCRB) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Seres Therapeutics (NASDAQ:MCRB) in a report issued on Friday morning, Benzinga reports. The firm currently has a $10.00 target price on the biotechnology company’s stock.

Several other equities research analysts have also commented on the company. Chardan Capital reaffirmed a buy rating and set a $1.25 price objective on shares of Seres Therapeutics in a research note on Wednesday, August 14th. Oppenheimer restated a market perform rating on shares of Seres Therapeutics in a report on Friday, June 7th. Finally, StockNews.com lowered shares of Seres Therapeutics from a hold rating to a sell rating in a research report on Tuesday, August 13th.

Seres Therapeutics Stock Up 4.1 %

Shares of MCRB stock opened at $1.00 on Friday. The firm has a market cap of $151.61 million, a price-to-earnings ratio of -1.67 and a beta of 2.02. The company’s 50 day moving average is $1.03 and its 200 day moving average is $0.91. Seres Therapeutics has a 52-week low of $0.54 and a 52-week high of $3.00.

Seres Therapeutics (NASDAQ:MCRB) last posted its quarterly earnings data on Tuesday, August 13th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.08. During the same quarter last year, the company posted $0.36 EPS. Analysts anticipate that Seres Therapeutics will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Teresa L. Young sold 24,480 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $1.08, for a total transaction of $26,438.40. Following the completion of the sale, the insider now owns 78,178 shares in the company, valued at $84,432.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 28,844 shares of company stock worth $30,104 in the last 90 days. Company insiders own 5.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Seres Therapeutics during the 1st quarter worth $39,000. Providence Wealth Advisors LLC grew its stake in Seres Therapeutics by 49.5% during the 2nd quarter. Providence Wealth Advisors LLC now owns 76,250 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 25,250 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in shares of Seres Therapeutics during the second quarter worth approximately $64,000. Virtu Financial LLC bought a new stake in shares of Seres Therapeutics in the 1st quarter worth about $73,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Seres Therapeutics in the 2nd quarter valued at approximately $92,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Seres Therapeutics Company Profile

Seres Therapeutics, Inc, a microbiome therapeutics company, develop microbiome therapeutics to treat the modulation of the colonic microbiome. It develops a novel class of biological drugs that are designed to treat by modulating the microbiome to restore health by repairing the function of a disrupted microbiome to a non-disease state.