Seres Therapeutics (NASDAQ:MCRB) Releases Earnings Results, Beats Estimates By $2.65 EPS

Seres Therapeutics (NASDAQ:MCRBGet Free Report) announced its quarterly earnings results on Wednesday. The biotechnology company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of ($2.18) by $2.65, FiscalAI reports. The firm had revenue of $0.74 million for the quarter, compared to the consensus estimate of $0.18 million. Seres Therapeutics had a negative return on equity of 112.11% and a negative net margin of 1,192.94%.

Seres Therapeutics Price Performance

NASDAQ MCRB traded up $0.05 on Friday, reaching $4.87. The company had a trading volume of 62,055 shares, compared to its average volume of 71,986. The firm has a market cap of $48.41 million, a price-to-earnings ratio of -2.00 and a beta of 0.20. The business has a 50 day moving average of $6.23 and a two-hundred day moving average of $8.48. Seres Therapeutics has a fifty-two week low of $4.59 and a fifty-two week high of $29.98.

Hedge Funds Weigh In On Seres Therapeutics

A number of hedge funds have recently bought and sold shares of MCRB. Goldman Sachs Group Inc. lifted its stake in shares of Seres Therapeutics by 40.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 74,629 shares of the biotechnology company’s stock valued at $52,000 after purchasing an additional 21,679 shares during the period. Invesco Ltd. lifted its holdings in shares of Seres Therapeutics by 193.2% in the 1st quarter. Invesco Ltd. now owns 136,572 shares of the biotechnology company’s stock worth $96,000 after purchasing an additional 89,995 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Seres Therapeutics by 2,772.6% during the third quarter. Bank of America Corp DE now owns 5,343 shares of the biotechnology company’s stock valued at $103,000 after buying an additional 5,157 shares during the last quarter. Barclays PLC boosted its stake in Seres Therapeutics by 427.8% during the 4th quarter. Barclays PLC now owns 7,432 shares of the biotechnology company’s stock valued at $111,000 after purchasing an additional 6,024 shares during the last quarter. Finally, ExodusPoint Capital Management LP purchased a new position in shares of Seres Therapeutics during the fourth quarter valued at approximately $190,000. Institutional investors own 59.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on MCRB. HC Wainwright began coverage on shares of Seres Therapeutics in a report on Tuesday, June 23rd. They issued a “buy” rating and a $12.00 price objective on the stock. Wall Street Zen raised Seres Therapeutics from a “strong sell” rating to a “sell” rating in a report on Saturday, June 6th. Zacks Research upgraded shares of Seres Therapeutics to a “hold” rating in a research report on Tuesday, June 23rd. Finally, Weiss Ratings cut Seres Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 18th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.00.

Read Our Latest Stock Report on MCRB

About Seres Therapeutics

(Get Free Report)

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.

Further Reading

Earnings History for Seres Therapeutics (NASDAQ:MCRB)

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