Seres Therapeutics (NASDAQ:MCRB) Issues Quarterly Earnings Results, Beats Estimates By $2.65 EPS

Seres Therapeutics (NASDAQ:MCRB) released its quarterly earnings results on Wednesday. The biotechnology company reported $0.47 earnings per share for the quarter, topping the consensus estimate of ($2.18) by $2.65, FiscalAI reports. The firm had revenue of $0.74 million for the quarter, compared to analysts’ expectations of $0.18 million.

Seres Therapeutics Price Performance

NASDAQ:MCRB traded down $0.19 on Thursday, reaching $4.82. 80,159 shares of the company’s stock were exchanged, compared to its average volume of 72,053. The firm has a market cap of $46.66 million, a price-to-earnings ratio of -0.93 and a beta of 0.20. The stock has a fifty day simple moving average of $6.29 and a 200-day simple moving average of $8.55. Seres Therapeutics has a 52 week low of $4.59 and a 52 week high of $29.98.

Institutional Trading of Seres Therapeutics

A number of institutional investors have recently modified their holdings of the business. OMERS ADMINISTRATION Corp purchased a new position in Seres Therapeutics in the 4th quarter valued at approximately $214,000. State Street Corp boosted its holdings in shares of Seres Therapeutics by 14.0% in the fourth quarter. State Street Corp now owns 33,901 shares of the biotechnology company’s stock worth $504,000 after acquiring an additional 4,170 shares during the period. Vontobel Holding Ltd. boosted its holdings 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 acquiring an additional 4,723 shares during the period. Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 1,160 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Seres Therapeutics in the third quarter valued at $557,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MCRB shares. Wall Street Zen raised Seres Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Zacks Research upgraded Seres Therapeutics to a “hold” rating in a report on Tuesday, June 23rd. Weiss Ratings cut Seres Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 18th. Finally, HC Wainwright started coverage on Seres Therapeutics in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $12.00 price objective for the company. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Seres Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $17.00.

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.