Seres Therapeutics (NASDAQ:MCRB) Announces Quarterly Earnings Results

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

Seres Therapeutics Price Performance

Shares of MCRB traded down $0.42 during midday trading on Friday, hitting $8.63. The stock had a trading volume of 37,500 shares, compared to its average volume of 66,009. The stock’s 50 day moving average is $12.34 and its 200 day moving average is $15.80. The firm has a market cap of $78.10 million, a PE ratio of 13.08 and a beta of 0.31. Seres Therapeutics has a 1 year low of $6.53 and a 1 year high of $29.98.

Institutional Trading of Seres Therapeutics

Several institutional investors have recently added to or reduced their stakes in MCRB. Goldman Sachs Group Inc. boosted its position in shares of Seres Therapeutics by 40.9% during the first quarter. Goldman Sachs Group Inc. now owns 74,629 shares of the biotechnology company’s stock valued at $52,000 after buying an additional 21,679 shares during the period. Invesco Ltd. lifted its stake in shares of Seres Therapeutics by 193.2% during the 1st quarter. Invesco Ltd. now owns 136,572 shares of the biotechnology company’s stock worth $96,000 after acquiring an additional 89,995 shares during the last quarter. Bank of America Corp DE boosted its holdings in Seres Therapeutics by 2,772.6% during the 3rd quarter. Bank of America Corp DE now owns 5,343 shares of the biotechnology company’s stock valued at $103,000 after acquiring an additional 5,157 shares during the period. Barclays PLC boosted its holdings in Seres Therapeutics by 427.8% during the 4th quarter. Barclays PLC now owns 7,432 shares of the biotechnology company’s stock valued at $111,000 after acquiring an additional 6,024 shares during the period. Finally, ExodusPoint Capital Management LP bought a new position in Seres Therapeutics in the 4th quarter valued at $190,000. Institutional investors own 59.34% of the company’s stock.

Analysts Set New Price Targets

MCRB has been the topic of several recent research reports. Wall Street Zen cut shares of Seres Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of Seres Therapeutics in a research report on Monday, December 29th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $22.00 price objective on shares of Seres Therapeutics in a research report on Friday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Seres Therapeutics currently has a consensus rating of “Hold” and an average target price of $14.00.

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.