Seres Therapeutics (NASDAQ:MCRB) Stock Price Crosses Below 50-Day Moving Average – Here’s What Happened
by Teresa Graham · The Cerbat GemSeres Therapeutics, Inc. (NASDAQ:MCRB – Get Free Report)’s share price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $9.70 and traded as low as $8.27. Seres Therapeutics shares last traded at $8.32, with a volume of 52,149 shares traded.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on MCRB shares. Weiss Ratings restated a “sell (d)” rating on shares of Seres Therapeutics in a research note on Friday, March 27th. Wall Street Zen downgraded Seres Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $22.00 price target on shares of Seres Therapeutics in a research note on Friday, March 13th. 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 company. According to data from MarketBeat.com, Seres Therapeutics currently has an average rating of “Hold” and an average price target of $14.00.
Check Out Our Latest Research Report on Seres Therapeutics
Seres Therapeutics Stock Performance
The firm has a market capitalization of $79.79 million, a P/E ratio of 12.61 and a beta of 0.26. The firm has a 50-day moving average of $9.70 and a 200-day moving average of $14.46.
Seres Therapeutics (NASDAQ:MCRB – Get Free Report) last released its quarterly earnings data on Thursday, March 12th. The biotechnology company reported ($1.89) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.39) by $0.50. The business had revenue of $0.44 million during the quarter. On average, research analysts forecast that Seres Therapeutics, Inc. will post -0.38 EPS for the current fiscal year.
Hedge Funds Weigh In On Seres Therapeutics
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its position in 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 acquiring an additional 21,679 shares in the last quarter. Invesco Ltd. lifted its position in Seres Therapeutics by 193.2% in the 1st quarter. Invesco Ltd. now owns 136,572 shares of the biotechnology company’s stock valued at $96,000 after acquiring an additional 89,995 shares in the last quarter. Bank of America Corp DE lifted its position in Seres Therapeutics by 2,772.6% in the 3rd quarter. Bank of America Corp DE now owns 5,343 shares of the biotechnology company’s stock valued at $103,000 after acquiring an additional 5,157 shares in the last quarter. Barclays PLC lifted its position in Seres Therapeutics by 427.8% in the 4th quarter. Barclays PLC now owns 7,432 shares of the biotechnology company’s stock valued at $111,000 after acquiring an additional 6,024 shares in the last quarter. Finally, ExodusPoint Capital Management LP bought a new position in Seres Therapeutics in the 4th quarter valued at approximately $190,000. 59.34% of the stock is owned by institutional investors.
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.