Seres Therapeutics (NASDAQ:MCRB) Shares Cross Below 50 Day Moving Average – Here’s Why

Shares of Seres Therapeutics, Inc. (NASDAQ:MCRB) passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $7.73 and traded as low as $5.31. Seres Therapeutics shares last traded at $5.62, with a volume of 152,604 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MCRB. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $22.00 target price on shares of Seres Therapeutics in a report on Friday, March 13th. Wall Street Zen upgraded shares of Seres Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings lowered shares of Seres Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.00.

Seres Therapeutics Trading Down 1.4%

The firm has a market cap of $54.40 million, a price-to-earnings ratio of -1.09 and a beta of 0.12. The stock’s 50 day moving average is $7.73 and its 200 day moving average is $11.12.

Seres Therapeutics (NASDAQ:MCRB) last announced its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported ($2.08) EPS for the quarter, missing analysts’ consensus estimates of ($1.88) by ($0.20). The company had revenue of $0.36 million for the quarter, compared to analyst estimates of $0.36 million.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MCRB. Invesco Ltd. grew its position in shares of Seres Therapeutics by 37.5% during the 4th quarter. Invesco Ltd. now owns 14,360 shares of the biotechnology company’s stock worth $214,000 after purchasing an additional 3,918 shares in the last quarter. 683 Capital Management LLC acquired a new position in shares of Seres Therapeutics during the 4th quarter worth approximately $778,000. ExodusPoint Capital Management LP acquired a new position in shares of Seres Therapeutics during the 4th quarter worth approximately $190,000. OMERS ADMINISTRATION Corp acquired a new position in shares of Seres Therapeutics during the 4th quarter worth approximately $214,000. Finally, Barclays PLC grew its position in shares of Seres Therapeutics by 427.8% during the 4th quarter. Barclays PLC now owns 7,432 shares of the biotechnology company’s stock worth $111,000 after purchasing an additional 6,024 shares in the last quarter. Institutional investors and hedge funds own 59.34% of the company’s stock.

Seres Therapeutics Company Profile

Seres Therapeutics is a clinical‐stage microbiome therapeutics company focused on harnessing the power of the human microbiome to treat serious diseases. Headquartered in Cambridge, Massachusetts, Seres applies proprietary microbiome science and manufacturing capabilities to develop a pipeline of living microbial therapies designed to restore healthy gut function. The company’s approach leverages understanding of microbial ecology and human biology to address conditions where the native microbiome is disrupted.

Among its lead candidates is SER-109, an investigational oral microbiome therapeutic for reducing recurrence of Clostridioides difficile infection.