Seres Therapeutics (MCRB) Issues Earnings Results

Seres Therapeutics (NASDAQ:MCRB) announced its quarterly earnings data on Thursday. The biotechnology company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.03, Fidelity Earnings reports. Seres Therapeutics had a negative return on equity of 256.24% and a negative net margin of 264.31%. The company had revenue of $9.06 million for the quarter, compared to analyst estimates of $23.43 million.

Shares of MCRB traded down $0.48 during midday trading on Friday, reaching $8.40. The company had a trading volume of 155,488 shares, compared to its average volume of 100,299. Seres Therapeutics has a 1-year low of $5.64 and a 1-year high of $11.35. The company has a market capitalization of $330.04 million, a PE ratio of -3.80 and a beta of 0.61. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 0.85.

In related news, insider Roger Pomerantz sold 12,518 shares of the firm’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $9.10, for a total transaction of $113,913.80. Following the completion of the sale, the insider now directly owns 218,799 shares of the company’s stock, valued at approximately $1,991,070.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John G. Aunins sold 14,279 shares of the firm’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $5.94, for a total value of $84,817.26. Following the sale, the insider now directly owns 103,811 shares of the company’s stock, valued at $616,637.34. The disclosure for this sale can be found here. Insiders have sold a total of 69,634 shares of company stock valued at $526,006 over the last three months. Corporate insiders own 37.10% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Seres Therapeutics during the 2nd quarter worth about $117,000. Northern Trust Corp increased its position in shares of Seres Therapeutics by 6.0% during the 2nd quarter. Northern Trust Corp now owns 246,310 shares of the biotechnology company’s stock worth $2,118,000 after purchasing an additional 14,021 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Seres Therapeutics by 18.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 117,255 shares of the biotechnology company’s stock valued at $1,009,000 after acquiring an additional 18,562 shares in the last quarter. Bank of America Corp DE grew its position in Seres Therapeutics by 175.0% in the 2nd quarter. Bank of America Corp DE now owns 36,489 shares of the biotechnology company’s stock valued at $314,000 after acquiring an additional 23,222 shares in the last quarter. Finally, FMR LLC grew its position in Seres Therapeutics by 0.4% in the 3rd quarter. FMR LLC now owns 6,119,349 shares of the biotechnology company’s stock valued at $46,446,000 after acquiring an additional 23,749 shares in the last quarter. 77.92% of the stock is owned by hedge funds and other institutional investors.

MCRB has been the subject of a number of recent research reports. Zacks Investment Research raised Seres Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 1st. BidaskClub raised Seres Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday. ValuEngine raised Seres Therapeutics from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Chardan Capital initiated coverage on Seres Therapeutics in a research note on Monday, October 22nd. They issued a “buy” rating and a $15.00 target price for the company. Finally, Bank of America downgraded Seres Therapeutics from a “neutral” rating to an “underperform” rating in a research note on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $13.81.

COPYRIGHT VIOLATION NOTICE: “Seres Therapeutics (MCRB) Issues Earnings Results” was posted by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are accessing this report on another site, it was illegally stolen and reposted in violation of international trademark & copyright law. The legal version of this report can be read at https://www.thelincolnianonline.com/2018/11/10/seres-therapeutics-mcrb-issues-earnings-results.html.

Seres Therapeutics Company Profile

Seres Therapeutics, Inc, a microbiome therapeutics platform company, engages in developing biological drugs designed to restore health by repairing the function of a dysbiotic microbiome. Its lead product candidate is SER-109, a bacterial spore ecology, which is in Phase III clinical study to treat multiply recurrent Clostridium difficile infection (CDI).

Recommended Story: The Role of a Fiduciary and Individual Investors

Earnings History for Seres Therapeutics (NASDAQ:MCRB)

Receive News & Ratings for Seres Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seres Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply