Sera Prognostics (NASDAQ:SERA) Shares Break Above Fifty Day Moving Average Following Weak Earnings

Key Points

• Sera Prognostics shares rose above their 50-day moving average, reaching $2.08, compared with the average of $2.04.
• The company reported a quarterly loss of $0.16 per share, missing the $0.14 loss analysts expected; revenue of $0.04 million also fell short of the $0.07 million consensus estimate.
• Analysts’ consensus rating is “Moderate Buy,” with a $5.50 target price, though Weiss Ratings downgraded the stock to “sell.” The CEO also sold shares to cover tax withholding on vested equity awards.

Shares of Sera Prognostics, Inc. (NASDAQ:SERA - Get Free Report) crossed above its fifty day moving average during trading on Thursday following a stronger than expected earnings report. The stock has a fifty day moving average of $2.04 and traded as high as $2.08. Sera Prognostics shares last traded at $2.08, with a volume of 21,631 shares.

The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.02). Sera Prognostics had a negative net margin of 34,866.67% and a negative return on equity of 49.61%. The company had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.07 million.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Sera Prognostics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $5.50.

Insiders Place Their Bets

In other Sera Prognostics news, CEO Zhenya Lindgardt sold 20,139 shares of the company's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $2.00, for a total transaction of $40,278.00. Following the completion of the sale, the chief executive officer directly owned 844,870 shares in the company, valued at $1,689,740. This represents a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 39,661 shares of company stock worth $79,563. 11.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Sera Prognostics

Several hedge funds and other institutional investors have recently made changes to their positions in SERA. Arkadios Wealth Advisors bought a new stake in Sera Prognostics during the 1st quarter valued at approximately $25,000. Segall Bryant & Hamill LLC bought a new position in Sera Prognostics in the 1st quarter worth approximately $193,000. AWM Investment Company Inc. bought a new position in Sera Prognostics in the 2nd quarter worth approximately $377,000. Finally, Sanders Morris Harris LLC acquired a new position in shares of Sera Prognostics during the third quarter worth approximately $642,000. 54.64% of the stock is owned by institutional investors and hedge funds.

Sera Prognostics Price Performance

The company has a market capitalization of $82.06 million, a price-to-earnings ratio of -3.10 and a beta of 1.14. The business has a fifty day moving average price of $2.04 and a 200 day moving average price of $2.12.

Sera Prognostics Company Profile

Sera Prognostics, Inc is a women's health diagnostics company focused on improving pregnancy outcomes through biomarker-based testing. The company uses proteomics, bioinformatics and clinical data to develop diagnostic and prognostic products designed to identify risks associated with pregnancy complications.

Its lead product is the PreTRM test, a blood-based test intended to assess a pregnant woman's risk of spontaneous preterm birth in a singleton pregnancy. The test measures specific protein biomarkers and is designed to provide physicians with information that may support risk assessment, patient management and care planning during pregnancy.

Founded in 2008 and headquartered in Salt Lake City, Utah, Sera Prognostics primarily serves the U.S.

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