Selecta Biosciences (NASDAQ:SELB) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday, November 11th. The firm presently has a $10.00 target price on the stock. Zacks Investment Research‘s price target suggests a potential downside of 6.19% from the stock’s previous close.
According to Zacks, “Selecta Biosciences, Inc. is a biopharmaceutical company which develops targeted immunotherapies and vaccines. Its product pipelineincludes gene therapy, food allergy, malaria; SEL-212, which is a therapeutic enzyme indicated for refractory gout; SEL-070, which is indicated for smoking cessation and relapse prevention; SEL-701, which is indicated for the treatment of human papillomavirus associated cancer and SEL-212 consists of SVP-Rapamycin co-administered with pegsiticase, its pegylated uricase. Selecta Biosciences, Inc. is based in Watertown, United States. “
A number of other equities research analysts have also issued reports on SELB. Canaccord Genuity set a $25.00 target price on Selecta Biosciences and gave the company a “buy” rating in a research report on Wednesday, July 26th. ValuEngine lowered Selecta Biosciences from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Finally, UBS lowered Selecta Biosciences from a “buy” rating to a “neutral” rating in a research report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $25.20.
In related news, Director Timothy C. Barabe purchased 5,000 shares of the stock in a transaction on Friday, November 10th. The shares were purchased at an average price of $9.37 per share, with a total value of $46,850.00. Following the transaction, the director now directly owns 4,992 shares of the company’s stock, valued at $46,775.04. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Earl Sands purchased 7,500 shares of the stock in a transaction on Friday, November 17th. The shares were bought at an average cost of $10.26 per share, for a total transaction of $76,950.00. Following the transaction, the insider now directly owns 7,500 shares in the company, valued at $76,950. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 90,098 shares of company stock worth $843,933 and have sold 355,658 shares worth $6,955,732. 41.90% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors boosted its stake in shares of Selecta Biosciences by 224.5% during the 2nd quarter. Nationwide Fund Advisors now owns 6,593 shares of the company’s stock worth $131,000 after acquiring an additional 4,561 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Selecta Biosciences by 827.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,254 shares of the company’s stock worth $224,000 after acquiring an additional 10,040 shares during the period. Rhumbline Advisers bought a new position in shares of Selecta Biosciences during the 2nd quarter worth approximately $239,000. New York State Common Retirement Fund boosted its stake in shares of Selecta Biosciences by 184.0% during the 2nd quarter. New York State Common Retirement Fund now owns 12,500 shares of the company’s stock worth $248,000 after acquiring an additional 8,099 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Selecta Biosciences during the 1st quarter worth approximately $211,000. Institutional investors own 54.44% of the company’s stock.
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About Selecta Biosciences
Selecta Biosciences, Inc is a clinical-stage biopharmaceutical company. The Company using its synthetic vaccine particle (SVP) technology to discover and develop targeted therapies that are designed to modulate the immune system to treat rare and serious diseases. The Company is engaged in the research and development of nanoparticle immunomodulatory drugs for the treatment and prevention of human diseases.
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