Seres Therapeutics’ (MCRB) “Buy” Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Seres Therapeutics (NASDAQ:MCRB) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $22.00 target price on the biotechnology company’s stock.

Other equities analysts also recently issued research reports about the company. Wall Street Zen downgraded Seres Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Seres Therapeutics in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $14.00.

Seres Therapeutics Price Performance

MCRB stock opened at $8.63 on Friday. Seres Therapeutics has a 1 year low of $6.53 and a 1 year high of $29.98. The company has a market cap of $78.10 million, a P/E ratio of 13.08 and a beta of 0.31. The firm has a 50-day moving average of $12.34 and a 200 day moving average of $15.80.

Seres Therapeutics (NASDAQ:MCRB) last posted 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 for the quarter. On average, equities research analysts expect that Seres Therapeutics will post -0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MCRB. Invesco Ltd. boosted its holdings in Seres Therapeutics by 37.5% in the fourth 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 last quarter. 683 Capital Management LLC purchased a new stake in Seres Therapeutics during the 4th quarter valued at $778,000. ExodusPoint Capital Management LP bought a new position in shares of Seres Therapeutics during the 4th quarter valued at $190,000. OMERS ADMINISTRATION Corp bought a new position in shares of Seres Therapeutics during the 4th quarter valued at $214,000. Finally, Barclays PLC boosted its stake in shares of Seres Therapeutics by 427.8% in the 4th quarter. Barclays PLC now owns 7,432 shares of the biotechnology company’s stock worth $111,000 after buying an additional 6,024 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

Seres Therapeutics Company Profile

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.