Seres Therapeutics (NASDAQ:MCRB) Announces Earnings Results

Seres Therapeutics (NASDAQ:MCRB) released its quarterly earnings data on Thursday. The biotechnology company reported ($1.89) earnings per share for the quarter, topping the consensus estimate of ($2.39) by $0.50, Zacks reports. The business had revenue of $0.44 million during the quarter.

Seres Therapeutics Stock Down 3.9%

Shares of NASDAQ:MCRB traded down $0.36 during midday trading on Friday, reaching $8.70. The company’s stock had a trading volume of 20,680 shares, compared to its average volume of 69,953. The firm has a market capitalization of $78.69 million, a P/E ratio of -2.44 and a beta of 0.31. Seres Therapeutics has a 12-month low of $6.53 and a 12-month high of $29.98. The firm has a 50 day moving average of $12.47 and a 200-day moving average of $15.87.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Seres Therapeutics

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Seres Therapeutics by 6.8% in the third quarter. Vanguard Group Inc. now owns 311,889 shares of the biotechnology company’s stock worth $6,001,000 after acquiring an additional 19,793 shares during the last quarter. Invesco Ltd. raised its holdings in Seres Therapeutics by 193.2% in the first quarter. Invesco Ltd. now owns 136,572 shares of the biotechnology company’s stock worth $96,000 after buying an additional 89,995 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Seres Therapeutics by 4.8% in 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 in the last quarter. Marshall Wace LLP purchased a new stake in shares of Seres Therapeutics during the second quarter valued at approximately $1,016,000. Finally, Geode Capital Management LLC grew its holdings in shares of Seres Therapeutics by 1.4% during 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 last quarter. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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.