Seres Therapeutics (NASDAQ:MCRB) Shares Cross Above 50-Day Moving Average - Here's Why

Key Points

• Seres Therapeutics' stock price has recently crossed above its 50-day moving average of $16.35, achieving a high of $18.78 before last trading at $17.45.
• The company reported a quarterly loss of ($2.27) EPS, which beat analysts' expectations of ($2.72) EPS.
• Institutional investors, including Millennium Management LLC and Invesco Ltd., have shown significant interest, with hedge funds and institutions owning 59.34% of the company's stock.

Seres Therapeutics, Inc. (NASDAQ:MCRB - Get Free Report)'s share price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $16.35 and traded as high as $18.78. Seres Therapeutics shares last traded at $17.45, with a volume of 205,420 shares changing hands.

Seres Therapeutics Stock Performance

The stock's 50-day simple moving average is $16.39 and its 200-day simple moving average is $12.29. The firm has a market capitalization of $144.64 million, a PE ratio of -3.61 and a beta of 0.15.

Seres Therapeutics (NASDAQ:MCRB - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported ($2.27) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($2.72) by $0.45. As a group, analysts predict that Seres Therapeutics, Inc. will post -0.38 earnings per share for the current fiscal year.

Institutional Trading of Seres Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of MCRB. Jane Street Group LLC grew its position in shares of Seres Therapeutics by 181.4% in the 4th quarter. Jane Street Group LLC now owns 58,736 shares of the biotechnology company's stock worth $49,000 after buying an additional 37,866 shares during the period. SBI Securities Co. Ltd. grew its position in shares of Seres Therapeutics by 221.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 69,664 shares of the biotechnology company's stock worth $49,000 after buying an additional 48,013 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Seres Therapeutics by 40.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 74,629 shares of the biotechnology company's stock worth $52,000 after buying an additional 21,679 shares during the period. Invesco Ltd. grew its position in shares of Seres Therapeutics by 193.2% in the 1st quarter. Invesco Ltd. now owns 136,572 shares of the biotechnology company's stock worth $96,000 after buying an additional 89,995 shares during the period. Finally, Northern Trust Corp grew its position in shares of Seres Therapeutics by 20.4% in the 4th quarter. Northern Trust Corp now owns 262,683 shares of the biotechnology company's stock worth $218,000 after buying an additional 44,461 shares during the period. 59.34% of the stock is owned by hedge funds and other institutional investors.

About Seres Therapeutics

Seres Therapeutics, Inc, a microbiome therapeutics company, develop microbiome therapeutics to treat the modulation of the colonic microbiome. It develops a novel class of biological drugs that are designed to treat by modulating the microbiome to restore health by repairing the function of a disrupted microbiome to a non-disease state.