Canaccord Genuity Group Reiterates Buy Rating for Seres Therapeutics (NASDAQ:MCRB)

Canaccord Genuity Group restated their buy rating on shares of Seres Therapeutics (NASDAQ:MCRB) in a research note released on Wednesday, Benzinga reports. Canaccord Genuity Group currently has a $10.00 price objective on the biotechnology company’s stock.

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

Seres Therapeutics Trading Down 0.6 %

NASDAQ:MCRB opened at $0.88 on Wednesday. The stock has a market cap of $133.24 million, a P/E ratio of -1.47 and a beta of 1.97. The stock has a 50 day simple moving average of $0.97 and a 200 day simple moving average of $0.94. Seres Therapeutics has a 1-year low of $0.54 and a 1-year high of $3.67.

Seres Therapeutics (NASDAQ:MCRB) last announced its quarterly earnings data on Tuesday, August 13th. The biotechnology company reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.30) by $0.08. During the same period last year, the firm earned $0.36 earnings per share. As a group, sell-side analysts forecast that Seres Therapeutics will post -1.03 EPS for the current year.

Insider Activity

In other news, insider Teresa L. Young sold 24,480 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $1.08, for a total value of $26,438.40. Following the transaction, the insider now directly owns 78,178 shares of the company’s stock, valued at approximately $84,432.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.10% of the stock is owned by company insiders.

Institutional Trading of Seres Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new position in shares of Seres Therapeutics in the fourth quarter valued at approximately $73,000. Handelsbanken Fonder AB grew its holdings in shares of Seres Therapeutics by 10.0% in the fourth quarter. Handelsbanken Fonder AB now owns 1,100,000 shares of the biotechnology company’s stock valued at $1,540,000 after acquiring an additional 100,000 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Seres Therapeutics by 668.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 38,091 shares of the biotechnology company’s stock valued at $53,000 after acquiring an additional 33,135 shares in the last quarter. Pennant Investors LP bought a new position in shares of Seres Therapeutics in the fourth quarter valued at approximately $409,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Seres Therapeutics in the first quarter valued at approximately $39,000. 59.34% of the stock is owned by institutional investors.

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.