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.
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).
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