Seres Therapeutics Inc (NASDAQ:MCRB) Sees Large Decline in Short Interest

Seres Therapeutics Inc (NASDAQ:MCRB) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totalling 4,328,500 shares, a decline of 35.4% from the May 30th total of 6,701,700 shares. Currently, 20.9% of the company’s stock are sold short. Based on an average trading volume of 519,100 shares, the days-to-cover ratio is presently 8.3 days.

MCRB has been the topic of several research reports. Chardan Capital restated a “buy” rating on shares of Seres Therapeutics in a research note on Monday, June 17th. ValuEngine cut Yext from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 10th. Cantor Fitzgerald restated a “buy” rating and set a $15.00 price objective on shares of Foamix Pharmaceuticals in a research note on Tuesday, May 7th. Jefferies Financial Group cut their price objective on Seres Therapeutics from $6.00 to $4.00 and set a “hold” rating on the stock in a research note on Monday, July 1st. Finally, Cowen restated a “hold” rating and set a $353.00 price objective on shares of Regeneron Pharmaceuticals in a research note on Tuesday, May 7th. Three analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $10.25.

In other Seres Therapeutics news, Director Noubar Afeyan purchased 8,888,888 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The shares were acquired at an average price of $2.25 per share, for a total transaction of $19,999,998.00. Following the completion of the purchase, the director now owns 15,141 shares in the company, valued at approximately $34,067.25. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 37.00% of the company’s stock.

Several large investors have recently bought and sold shares of MCRB. BNP Paribas Arbitrage SA grew its holdings in Seres Therapeutics by 945.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,339 shares of the biotechnology company’s stock worth $30,000 after buying an additional 3,924 shares in the last quarter. Great West Life Assurance Co. Can bought a new position in Seres Therapeutics in the 4th quarter worth approximately $30,000. Two Sigma Investments LP bought a new position in Seres Therapeutics in the 4th quarter worth approximately $82,000. Rhumbline Advisers grew its holdings in Seres Therapeutics by 48.8% in the 4th quarter. Rhumbline Advisers now owns 27,136 shares of the biotechnology company’s stock worth $123,000 after buying an additional 8,895 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in Seres Therapeutics by 21.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 19,800 shares of the biotechnology company’s stock worth $168,000 after buying an additional 3,500 shares in the last quarter. 82.03% of the stock is owned by institutional investors.

Shares of NASDAQ:MCRB traded down $0.10 during trading on Friday, hitting $2.89. 452,469 shares of the company traded hands, compared to its average volume of 430,862. The company has a market capitalization of $118.77 million, a PE ratio of -1.19 and a beta of 2.04. The stock has a fifty day simple moving average of $3.14. Seres Therapeutics has a one year low of $2.02 and a one year high of $9.26.

Seres Therapeutics (NASDAQ:MCRB) last posted its earnings results on Thursday, May 2nd. The biotechnology company reported ($0.55) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.12). The firm had revenue of $7.32 million during the quarter, compared to the consensus estimate of $8.61 million. Equities research analysts forecast that Seres Therapeutics will post -1.75 EPS for the current year.

Seres Therapeutics Company Profile

Seres Therapeutics, Inc, a microbiome therapeutics platform company, engages in developing biological drugs that are designed to treat disease by restoring the function of a dysbiotic microbiome. The company's advanced program is the SER-109, which is in Phase III clinical development for reducing recurrent clostridium difficile infection (CDI).

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