Seres Therapeutics (NASDAQ:MCRB) Receives Buy Rating from Canaccord Genuity Group

Key Points

• Canaccord Genuity reiterated a Buy on Seres Therapeutics (NASDAQ:MCRB) with a $22.00 price objective, implying roughly 154.92% upside from the prior close.
• Analyst sentiment is mixed—one Buy, one Hold and two Sells—resulting in a MarketBeat consensus rating of Reduce and an average price target of $14.33, while the stock traded at $8.63 (down 4.6%) with a $78.1M market cap.
• Seres beat quarterly EPS estimates (reported ($1.89) vs. consensus ($2.39)), and institutional/hedge fund ownership is high at 59.34% after several recent new or increased stakes.

Seres Therapeutics (NASDAQ:MCRB - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Canaccord Genuity Group in a research note issued on Friday,Benzinga reports. They currently have a $22.00 price objective on the biotechnology company's stock. Canaccord Genuity Group's target price would indicate a potential upside of 154.92% from the company's previous close.

A number of other analysts have also recently weighed in on MCRB. Weiss Ratings restated a "sell (d)" rating on shares of Seres Therapeutics in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Seres Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, February 14th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $14.33.

Seres Therapeutics Stock Down 4.6%

Shares of NASDAQ:MCRB traded down $0.42 on Friday, reaching $8.63. The company had a trading volume of 27,697 shares, compared to its average volume of 70,098. The stock has a market capitalization of $78.10 million, a P/E ratio of -2.42 and a beta of 0.31. The stock has a 50-day moving average price of $12.47 and a 200 day moving average price of $15.87. Seres Therapeutics has a twelve month low of $6.53 and a twelve month high of $29.98.

Seres Therapeutics (NASDAQ:MCRB - Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The biotechnology company reported ($1.89) earnings per share for the quarter, beating analysts' consensus estimates of ($2.39) by $0.50. The company had revenue of $0.44 million during the quarter. On average, sell-side analysts predict that Seres Therapeutics will post -0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Seres Therapeutics

A number of hedge funds have recently made changes to their positions in the business. Marshall Wace LLP acquired a new position in Seres Therapeutics in the second quarter worth about $1,016,000. Invesco Ltd. increased its position 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 purchasing an additional 89,995 shares in the last quarter. 683 Capital Management LLC bought a new position in Seres Therapeutics during the 4th quarter valued at about $778,000. Schonfeld Strategic Advisors LLC acquired a new position in Seres Therapeutics in the third quarter valued at about $557,000. Finally, XTX Topco Ltd bought a new stake in Seres Therapeutics during the second quarter worth about $249,000. Institutional investors and hedge funds own 59.34% of the company's stock.

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.

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