Seres Therapeutics (NASDAQ:MCRB) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Key Points

• Canaccord Genuity Group has increased Seres Therapeutics' price target from $14.00 to $22.00, indicating a potential upside of 25.28% from the stock’s previous close.
• Seres Therapeutics reported quarterly earnings of ($2.27) per share, surpassing the expected consensus estimate of ($2.72) by $0.45.
• Institutional investors now hold 59.34% of Seres Therapeutics' shares, with notable increases in stakes from multiple firms like Jane Street Group LLC and Goldman Sachs.

Seres Therapeutics (NASDAQ:MCRB - Get Free Report) had its price objective increased by investment analysts at Canaccord Genuity Group from $14.00 to $22.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the biotechnology company's stock. Canaccord Genuity Group's target price would indicate a potential upside of 25.28% from the stock's previous close.

Seres Therapeutics Stock Up 6.3%

Shares of MCRB opened at $17.56 on Wednesday. The stock has a market cap of $153.65 million, a PE ratio of -3.82 and a beta of 0.15. The business has a 50-day simple moving average of $16.44 and a two-hundred day simple moving average of $12.33. Seres Therapeutics has a 12-month low of $6.53 and a 12-month high of $24.67.

Seres Therapeutics (NASDAQ:MCRB - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported ($2.27) earnings per share for the quarter, beating the consensus estimate of ($2.72) by $0.45. On average, equities research analysts expect that Seres Therapeutics will post -0.38 EPS for the current year.

Institutional Investors Weigh In On Seres Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in MCRB. Jane Street Group LLC increased its stake in shares of Seres Therapeutics by 181.4% in the fourth quarter. Jane Street Group LLC now owns 58,736 shares of the biotechnology company's stock valued at $49,000 after buying an additional 37,866 shares during the period. SBI Securities Co. Ltd. grew its stake in Seres Therapeutics by 221.8% during the first quarter. SBI Securities Co. Ltd. now owns 69,664 shares of the biotechnology company's stock worth $49,000 after purchasing an additional 48,013 shares during the period. Goldman Sachs Group Inc. grew its stake in Seres Therapeutics by 40.9% during the first quarter. Goldman Sachs Group Inc. now owns 74,629 shares of the biotechnology company's stock worth $52,000 after purchasing an additional 21,679 shares during the period. Invesco Ltd. grew its stake in Seres Therapeutics by 193.2% during the first quarter. Invesco Ltd. now owns 136,572 shares of the biotechnology company's stock worth $96,000 after purchasing an additional 89,995 shares during the period. Finally, Northern Trust Corp grew its stake in Seres Therapeutics by 20.4% during the fourth quarter. Northern Trust Corp now owns 262,683 shares of the biotechnology company's stock worth $218,000 after purchasing an additional 44,461 shares during the period. Institutional investors and hedge funds own 59.34% of the company's stock.

Seres Therapeutics Company Profile

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.

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