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

Canaccord Genuity Group reaffirmed their buy rating on shares of Seres Therapeutics (NASDAQ:MCRB) in a research report report published on Friday morning, Benzinga reports. They currently have a $10.00 price target on the biotechnology company’s stock.

Several other analysts have also issued reports on the company. StockNews.com lowered Seres Therapeutics from a hold rating to a sell rating in a report on Tuesday, August 13th. Chardan Capital reaffirmed a buy rating and set a $1.25 target price on shares of Seres Therapeutics in a report on Wednesday, August 14th. Finally, Oppenheimer reiterated a market perform rating on shares of Seres Therapeutics in a research report on Friday, June 7th.

Seres Therapeutics Trading Up 2.1 %

NASDAQ:MCRB opened at $1.02 on Friday. The stock has a market cap of $154.48 million, a price-to-earnings ratio of -1.70 and a beta of 2.02. The stock has a 50-day moving average price of $1.03 and a two-hundred day moving average price of $0.91. Seres Therapeutics has a 1 year low of $0.54 and a 1 year high of $2.85.

Seres Therapeutics (NASDAQ:MCRB) last issued its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.08. During the same period in the prior year, the business earned $0.36 earnings per share. Sell-side analysts forecast that Seres Therapeutics will post -0.95 earnings per share for the current year.

Insider Activity

In related 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 completion of the transaction, the insider now owns 78,178 shares of the company’s stock, valued at $84,432.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders sold 28,844 shares of company stock worth $30,104. 5.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Seres Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pennant Investors LP bought a new position in shares of Seres Therapeutics in the fourth quarter worth about $409,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Seres Therapeutics in the 1st quarter valued at approximately $39,000. Vanguard Group Inc. boosted its position in Seres Therapeutics by 12.1% in the first quarter. Vanguard Group Inc. now owns 6,734,821 shares of the biotechnology company’s stock valued at $5,213,000 after buying an additional 729,514 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Seres Therapeutics during the first quarter worth $73,000. Finally, Providence Wealth Advisors LLC lifted its stake in shares of Seres Therapeutics by 49.5% in the 2nd quarter. Providence Wealth Advisors LLC now owns 76,250 shares of the biotechnology company’s stock valued at $58,000 after acquiring an additional 25,250 shares during the last quarter. 59.34% of the stock is currently owned by 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.