Seres Therapeutics Inc. (MCRB) Shares Up 14.6%
Seres Therapeutics Inc. (NASDAQ:MCRB)’s share price shot up 14.6% on Tuesday . The stock traded as high as $14.49 and last traded at $14.38, with a volume of 1,474,671 shares changing hands. The stock had previously closed at $12.55.
Several brokerages have weighed in on MCRB. FBR & Co lowered their price target on shares of Seres Therapeutics from $43.00 to $23.00 and set an “outperform” rating on the stock in a report on Friday, August 12th. Leerink Swann reissued a “buy” rating and issued a $12.00 target price on shares of Seres Therapeutics in a report on Thursday, August 11th. Canaccord Genuity reissued a “buy” rating and issued a $20.00 target price on shares of Seres Therapeutics in a report on Monday, August 1st. Bank of America Corp. downgraded shares of Seres Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, August 1st. Finally, Cowen and Company reissued a “buy” rating on shares of Seres Therapeutics in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $31.57.
The firm’s market cap is $579.54 million. The firm has a 50 day moving average of $10.73 and a 200 day moving average of $24.38.
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Seres Therapeutics (NASDAQ:MCRB) last issued its quarterly earnings results on Thursday, August 11th. The company reported ($0.70) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.46) by $0.24. The company had revenue of $3 million for the quarter, compared to the consensus estimate of $4.20 million. During the same quarter in the previous year, the business posted ($1.45) EPS. The company’s revenue for the quarter was up NaN% compared to the same quarter last year. On average, equities analysts forecast that Seres Therapeutics Inc. will post ($2.32) EPS for the current fiscal year.
In other news, EVP John G. Aunins sold 9,390 shares of the firm’s stock in a transaction that occurred on Monday, June 27th. The shares were sold at an average price of $27.23, for a total transaction of $255,689.70. Following the sale, the executive vice president now owns 32,655 shares of the company’s stock, valued at approximately $889,195.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Roger Pomerantz sold 56,789 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $29.81, for a total transaction of $1,692,880.09. Following the sale, the chief executive officer now directly owns 240,481 shares in the company, valued at approximately $7,168,738.61. The disclosure for this sale can be found here. 41.90% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of MCRB. Flagship Ventures Fund IV L.P. purchased a new stake in shares of Seres Therapeutics during the first quarter worth approximately $374,060,000. DekaBank Deutsche Girozentrale boosted its stake in shares of Seres Therapeutics by 20.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 20,300 shares of the company’s stock worth $606,000 after buying an additional 3,500 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of Seres Therapeutics by 8.2% in the first quarter. BlackRock Fund Advisors now owns 716,515 shares of the company’s stock worth $19,031,000 after buying an additional 54,438 shares during the last quarter. Flagship Ventures Fund 2007 L.P. purchased a new stake in shares of Seres Therapeutics during the first quarter worth approximately $15,917,000. Finally, Sabby Management LLC boosted its stake in shares of Seres Therapeutics by 556.0% in the first quarter. Sabby Management LLC now owns 69,287 shares of the company’s stock worth $1,840,000 after buying an additional 58,725 shares during the last quarter. 78.28% of the stock is currently owned by institutional investors and hedge funds.
About Seres Therapeutics
Seres Therapeutics, Inc is a microbiome therapeutics platform company. The Company is engaged in developing a class of biological drugs, which is referred as Ecobiotic microbiome therapeutics. The Company is focused on implementing its microbiome therapeutics platform to develop Ecobiotic microbiome therapeutics that treats dysbiosis in the colonic microbiome.
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