Selecta Biosciences (NASDAQ:SELB) was upgraded by research analysts at BidaskClub from a "sell" rating to a "hold" rating in a report released on Wednesday, BidAskClub reports.
A number of other brokerages have also weighed in on SELB. Needham & Company LLC restated a "buy" rating and set a $5.00 price target on shares of Selecta Biosciences in a research note on Thursday, June 18th. HC Wainwright reaffirmed a "buy" rating and set a $10.00 target price on shares of Selecta Biosciences in a report on Thursday, June 18th. ValuEngine downgraded Selecta Biosciences from a "buy" rating to a "hold" rating in a report on Thursday, July 2nd. Canaccord Genuity reaffirmed a "buy" rating on shares of Selecta Biosciences in a report on Friday, August 7th. Finally, Mizuho reaffirmed a "buy" rating and set a $7.00 target price on shares of Selecta Biosciences in a report on Friday, August 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of "Buy" and an average target price of $7.50.
Shares of SELB stock opened at $2.57 on Wednesday. Selecta Biosciences has a fifty-two week low of $1.28 and a fifty-two week high of $4.83. The firm has a market capitalization of $275.36 million, a price-to-earnings ratio of -2.57 and a beta of 1.30. The stock's 50-day simple moving average is $2.50 and its 200-day simple moving average is $2.80.
Selecta Biosciences (NASDAQ:SELB) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.25) earnings per share for the quarter, missing the Zacks' consensus estimate of $0.32 by ($0.57). As a group, equities analysts expect that Selecta Biosciences will post -0.55 earnings per share for the current year.
A number of large investors have recently made changes to their positions in the business. Morgan Stanley lifted its holdings in Selecta Biosciences by 18.7% in the first quarter. Morgan Stanley now owns 21,636 shares of the company's stock valued at $52,000 after acquiring an additional 3,412 shares during the period. Quantitative Systematic Strategies LLC lifted its holdings in Selecta Biosciences by 10.7% in the second quarter. Quantitative Systematic Strategies LLC now owns 41,267 shares of the company's stock valued at $117,000 after acquiring an additional 4,000 shares during the period. Geode Capital Management LLC lifted its holdings in Selecta Biosciences by 1.7% in the first quarter. Geode Capital Management LLC now owns 285,683 shares of the company's stock valued at $688,000 after acquiring an additional 4,808 shares during the period. Blair William & Co. IL acquired a new position in shares of Selecta Biosciences during the 1st quarter worth approximately $48,000. Finally, Cerity Partners LLC acquired a new position in shares of Selecta Biosciences during the 2nd quarter worth approximately $57,000. 57.20% of the stock is owned by institutional investors.
About Selecta Biosciences
Selecta Biosciences, Inc, a clinical-stage biopharmaceutical company, researches and develops nanoparticle immunomodulatory drugs for the treatment and prevention of human diseases. Its proprietary pipeline includes therapeutic enzymes, gene therapies, and other products and product candidates affected by undesired immune responses.
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6 Stocks That Will Benefit From a Dovish Federal Reserve
The quaint correction that was labeled the “tech wreck” of 2018 seems like a distant memory to investors. What also seems like a distant memory is any thought of the Federal Reserve raising interest rates.
At the end of 2018, the Federal Reserve had raised its benchmark federal funds rate. With the trade dispute with China dragging on, there was increasing pressure on the Fed to lower interest rates. When interest rates are lower, stocks will generally rise as investors have no other option for growth.
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