Seres Therapeutics Inc (NASDAQ:MCRB) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 4,328,500 shares, a drop of 35.4% from the May 30th total of 6,701,700 shares. Based on an average trading volume of 519,100 shares, the short-interest ratio is currently 8.3 days. Approximately 20.9% of the company’s shares are short sold.
In other news, Director Noubar Afeyan purchased 8,888,888 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were acquired at an average price of $2.25 per share, with a total value of $19,999,998.00. Following the acquisition, the director now directly owns 15,141 shares in the company, valued at $34,067.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 37.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale lifted its position in Seres Therapeutics by 21.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 19,800 shares of the biotechnology company’s stock valued at $168,000 after acquiring an additional 3,500 shares during the period. BNP Paribas Arbitrage SA increased its stake in Seres Therapeutics by 945.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,339 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 3,924 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Seres Therapeutics by 7.6% during the 4th quarter. Bank of New York Mellon Corp now owns 85,364 shares of the biotechnology company’s stock valued at $386,000 after purchasing an additional 6,023 shares in the last quarter. Great West Life Assurance Co. Can bought a new stake in Seres Therapeutics during the 4th quarter valued at about $30,000. Finally, Rhumbline Advisers increased its stake in Seres Therapeutics by 48.8% during the 4th quarter. Rhumbline Advisers now owns 27,136 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 8,895 shares in the last quarter. 82.03% of the stock is owned by institutional investors.
NASDAQ MCRB traded down $0.09 during trading hours on Friday, reaching $2.90. 41,669 shares of the company’s stock traded hands, compared to its average volume of 1,263,412. Seres Therapeutics has a 52-week low of $2.02 and a 52-week high of $9.26. The company has a market cap of $122.89 million, a price-to-earnings ratio of -1.18 and a beta of 2.04. The business’s 50-day simple moving average is $3.14.
Seres Therapeutics (NASDAQ:MCRB) last issued its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.12). The company had revenue of $7.32 million for the quarter, compared to the consensus estimate of $8.61 million. As a group, equities analysts predict that Seres Therapeutics will post -1.75 earnings per share for the current year.
Several equities research analysts have recently commented on MCRB shares. Jefferies Financial Group dropped their target price on shares of Seres Therapeutics from $6.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, July 1st. Cowen reaffirmed a “hold” rating and issued a $353.00 target price on shares of Regeneron Pharmaceuticals in a research report on Tuesday, May 7th. ValuEngine cut shares of Yext from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 10th. Oppenheimer set a $13.00 target price on shares of Alpine Immune Sciences and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, BidaskClub raised shares of ZIX from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 3rd. Three research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $10.25.
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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