Seres Therapeutics’ (MCRB) Buy Rating Reiterated at Canaccord Genuity Group

Seres Therapeutics (NASDAQ:MCRB)‘s stock had its “buy” rating restated by investment analysts at Canaccord Genuity Group in a report released on Friday,Benzinga reports. They currently have a $22.00 target price on the biotechnology company’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 154.92% from the company’s current price.

MCRB has been the topic of a number of other research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Seres Therapeutics in a report on Monday, December 29th. Wall Street Zen downgraded shares of Seres Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $14.33.

Seres Therapeutics Stock Down 4.6%

MCRB traded down $0.42 during trading on Friday, hitting $8.63. The company’s stock had a trading volume of 27,697 shares, compared to its average volume of 70,098. The firm’s 50 day moving average price is $12.47 and its two-hundred day moving average price is $15.87. Seres Therapeutics has a 12 month low of $6.53 and a 12 month high of $29.98. The stock has a market capitalization of $78.10 million, a price-to-earnings ratio of -2.42 and a beta of 0.31.

Seres Therapeutics (NASDAQ:MCRB) last announced its earnings results on Thursday, March 12th. The biotechnology company reported ($1.89) EPS for the quarter, topping the consensus estimate of ($2.39) by $0.50. The business had revenue of $0.44 million for the quarter. On average, sell-side analysts forecast that Seres Therapeutics will post -0.38 earnings per share for the current year.

Institutional Trading of Seres Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Seres Therapeutics by 6.8% during the 3rd quarter. Vanguard Group Inc. now owns 311,889 shares of the biotechnology company’s stock worth $6,001,000 after purchasing an additional 19,793 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Seres Therapeutics by 193.2% in the 1st quarter. Invesco Ltd. now owns 136,572 shares of the biotechnology company’s stock valued at $96,000 after purchasing an additional 89,995 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of Seres Therapeutics by 4.8% during the fourth quarter. Vontobel Holding Ltd. now owns 103,234 shares of the biotechnology company’s stock worth $1,536,000 after buying an additional 4,723 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of Seres Therapeutics during the second quarter worth approximately $1,016,000. Finally, Geode Capital Management LLC lifted its holdings in Seres Therapeutics by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 86,142 shares of the biotechnology company’s stock valued at $1,282,000 after buying an additional 1,160 shares during the period. 59.34% of the stock is currently owned by institutional investors and hedge funds.

About Seres Therapeutics

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.