The Goldman Sachs Group Cuts Seres Therapeutics (NASDAQ:MCRB) Price Target to $0.75

Seres Therapeutics (NASDAQ:MCRB) had its price objective trimmed by The Goldman Sachs Group from $1.00 to $0.75 in a report released on Friday,Benzinga reports. The brokerage currently has a sell rating on the biotechnology company’s stock.

Several other research firms have also recently issued reports on MCRB. StockNews.com raised Seres Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, March 6th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Seres Therapeutics in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.00.

Seres Therapeutics Trading Up 8.1 %

MCRB stock opened at $0.69 on Friday. The stock has a market capitalization of $120.10 million, a PE ratio of -3.00 and a beta of 2.19. Seres Therapeutics has a 12-month low of $0.54 and a 12-month high of $1.53. The stock’s 50 day simple moving average is $0.79 and its 200 day simple moving average is $0.83.

Institutional Investors Weigh In On Seres Therapeutics

A number of hedge funds have recently added to or reduced their stakes in MCRB. Charles Schwab Investment Management Inc. raised its stake in Seres Therapeutics by 42.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 748,718 shares of the biotechnology company’s stock valued at $708,000 after buying an additional 222,771 shares during the last quarter. FMR LLC increased its stake in shares of Seres Therapeutics by 0.6% in the 3rd quarter. FMR LLC now owns 22,857,260 shares of the biotechnology company’s stock worth $21,625,000 after purchasing an additional 140,096 shares in the last quarter. Providence Wealth Advisors LLC increased its stake in shares of Seres Therapeutics by 29.2% in the 3rd quarter. Providence Wealth Advisors LLC now owns 98,500 shares of the biotechnology company’s stock worth $93,000 after purchasing an additional 22,250 shares in the last quarter. State Street Corp increased its stake in shares of Seres Therapeutics by 12.9% in the 3rd quarter. State Street Corp now owns 383,248 shares of the biotechnology company’s stock worth $363,000 after purchasing an additional 43,700 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Seres Therapeutics by 22.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,388,639 shares of the biotechnology company’s stock worth $1,314,000 after purchasing an additional 255,014 shares in the last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

About Seres Therapeutics

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.