Seres Therapeutics, Inc. (NASDAQ:MCRB) Sees Significant Decline in Short Interest

Seres Therapeutics, Inc. (NASDAQ:MCRB – Get Free Report) was the recipient of a significant drop in short interest in the month of June. As of June 15th, there was short interest totaling 219,815 shares, a drop of 54.1% from the May 31st total of 478,817 shares. Approximately 2.4% of the shares of the stock are short sold. Based on an average daily volume of 102,140 shares, the short-interest ratio is presently 2.2 days.

Seres Therapeutics Stock Performance

Seres Therapeutics stock traded up $0.10 on Tuesday, reaching $7.89. The company’s stock had a trading volume of 113,746 shares, compared to its average volume of 67,198. The company has a market cap of $76.38 million, a price-to-earnings ratio of -1.53 and a beta of 0.12. The business’s fifty day moving average price is $7.34 and its 200 day moving average price is $10.38. Seres Therapeutics has a twelve month low of $5.31 and a twelve month high of $29.98.

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Seres Therapeutics (NASDAQ:MCRB – Get Free Report) last announced its earnings results on Tuesday, May 5th. The biotechnology company reported ($2.08) EPS for the quarter, missing the consensus estimate of ($1.88) by ($0.20). The firm had revenue of $0.36 million during the quarter, compared to the consensus estimate of $0.36 million. As a group, equities analysts forecast that Seres Therapeutics will post -5.84 earnings per share for the current year.

Wall Street Analyst Weigh In

MCRB has been the topic of several analyst reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $22.00 price objective on shares of Seres Therapeutics in a research note on Friday, March 13th. HC Wainwright began coverage on Seres Therapeutics in a research report on Tuesday, June 23rd. They set a “buy” rating and a $12.00 target price for the company. Wall Street Zen upgraded Seres Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Zacks Research upgraded Seres Therapeutics to a “hold” rating in a research note on Tuesday, June 23rd. Finally, Weiss Ratings cut Seres Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 18th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $17.00.

Check Out Our Latest Report on Seres Therapeutics

Institutional Investors Weigh In On Seres Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. raised its stake in shares of Seres Therapeutics by 193.2% in the first quarter. Invesco Ltd. now owns 136,572 shares of the biotechnology company’s stock worth $96,000 after acquiring an additional 89,995 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Seres Therapeutics by 40.9% during the first 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 last quarter. Marshall Wace LLP bought a new stake in shares of Seres Therapeutics during the second quarter valued at approximately $1,016,000. Vanguard Group Inc. increased its holdings in shares of Seres Therapeutics by 6.8% in the third quarter. Vanguard Group Inc. now owns 311,889 shares of the biotechnology company’s stock valued at $6,001,000 after purchasing an additional 19,793 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Seres Therapeutics in the third quarter valued at approximately $557,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

Seres Therapeutics Company Profile

(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.

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