Seres Therapeutics (NASDAQ:MCRB) Shares Pass Below 200 Day Moving Average - Here's What Happened

Key Points

• Shares fell below the 200-day moving average: MCRB traded as low as $8.50 versus a 200-day MA of $13.89, was down about 4.9%, and has a market cap near $81.5 million (50-day MA $8.91).
• Analyst views are mixed: one Buy (Canaccord with a $22 target), one Hold and one Sell leave a MarketBeat consensus rating of "Hold" with a $14 consensus target.
• Recent results and ownership: Seres beat Q EPS estimates (reported ($1.89) vs. ($2.39) expected) on $0.44M revenue, and roughly 59% of the stock is held by institutional investors.

Shares of Seres Therapeutics, Inc. (NASDAQ:MCRB - Get Free Report) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.89 and traded as low as $8.50. Seres Therapeutics shares last traded at $8.50, with a volume of 25,478 shares.

Analyst Upgrades and Downgrades

MCRB has been the topic of several research analyst reports. Canaccord Genuity Group reissued a "buy" rating and issued a $22.00 target price on shares of Seres Therapeutics in a research report on Friday, March 13th. Wall Street Zen downgraded shares of Seres Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, February 14th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Seres Therapeutics in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $14.00.

Seres Therapeutics Stock Down 4.9%

The company has a market capitalization of $81.52 million, a price-to-earnings ratio of 12.88 and a beta of 0.26. The company has a 50 day simple moving average of $8.91 and a 200 day simple moving average of $13.89.

Seres Therapeutics (NASDAQ:MCRB - Get Free Report) last released its quarterly earnings data on Thursday, March 12th. The biotechnology company reported ($1.89) earnings per share for the quarter, beating the consensus estimate of ($2.39) by $0.50. The firm had revenue of $0.44 million during the quarter.

Institutional Investors Weigh In On Seres Therapeutics

Institutional investors have recently bought and sold shares of the business. Bank of America Corp DE increased its position in shares of Seres Therapeutics by 2,772.6% in the third quarter. Bank of America Corp DE now owns 5,343 shares of the biotechnology company's stock worth $103,000 after acquiring an additional 5,157 shares in the last quarter. Barclays PLC lifted its holdings in shares of Seres Therapeutics by 427.8% during the 4th quarter. Barclays PLC now owns 7,432 shares of the biotechnology company's stock valued at $111,000 after acquiring an additional 6,024 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in shares of Seres Therapeutics during the 4th quarter valued at $190,000. Goldman Sachs Group Inc. purchased a new stake in Seres Therapeutics during the 4th quarter worth $213,000. Finally, Invesco Ltd. boosted its position in Seres Therapeutics by 37.5% during the 4th quarter. Invesco Ltd. now owns 14,360 shares of the biotechnology company's stock worth $214,000 after purchasing an additional 3,918 shares during the period. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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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