Selecta Biosciences (NASDAQ:SELB) Stock Rating Upgraded by Zacks Investment Research

Selecta Biosciences (NASDAQ:SELB – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The firm currently has a $0.75 target price on the stock. Zacks Investment Research‘s price target would indicate a potential downside of 1.45% from the stock’s previous close.

According to Zacks, “Selecta Biosciences, Inc. is a biopharmaceutical company which develops targeted immunotherapies and vaccines. Its product pipelineincludes gene therapy, food allergy, malaria; SEL-212, which is a therapeutic enzyme indicated for refractory gout; SEL-070, which is indicated for smoking cessation and relapse prevention; SEL-701, which is indicated for the treatment of human papillomavirus associated cancer and SEL-212 consists of SVP-Rapamycin co-administered with pegsiticase, its pegylated uricase. Selecta Biosciences, Inc. is based in Watertown, United States. “

SELB has been the subject of several other research reports. HC Wainwright restated a “buy” rating and issued a $6.00 target price on shares of Selecta Biosciences in a research note on Tuesday, January 11th. StockNews.com raised Selecta Biosciences from a “hold” rating to a “buy” rating in a report on Friday, May 6th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Selecta Biosciences has an average rating of “Buy” and an average price target of $5.45.

Shares of SELB stock traded down $0.04 on Wednesday, hitting $0.76. 11,532 shares of the stock were exchanged, compared to its average volume of 1,062,125. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $115.53 million, a price-to-earnings ratio of -15.39 and a beta of 1.36. Selecta Biosciences has a one year low of $0.69 and a one year high of $5.28. The firm has a 50 day moving average price of $1.21.

Selecta Biosciences (NASDAQ:SELB – Get Rating) last issued its earnings results on Thursday, May 5th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.19. During the same period in the prior year, the company posted ($0.22) earnings per share. Sell-side analysts expect that Selecta Biosciences will post -0.53 earnings per share for the current year.

Several hedge funds have recently modified their holdings of SELB. NanoDimension Inc. bought a new stake in shares of Selecta Biosciences in the 4th quarter worth approximately $11,892,000. Marshall Wace LLP bought a new stake in shares of Selecta Biosciences during the fourth quarter valued at approximately $6,491,000. OUP Management Co. LLC bought a new stake in shares of Selecta Biosciences during the fourth quarter valued at approximately $2,812,000. Millennium Management LLC boosted its position in shares of Selecta Biosciences by 188.4% during the fourth quarter. Millennium Management LLC now owns 1,050,787 shares of the company’s stock valued at $3,426,000 after purchasing an additional 686,497 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Selecta Biosciences during the third quarter valued at approximately $2,116,000. Hedge funds and other institutional investors own 72.62% of the company’s stock.

About Selecta Biosciences (Get Rating)

Selecta Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in the research and development of nanoparticle immunomodulatory drugs for the treatment and prevention of human diseases. The company's lead therapeutic gene therapy program is SEL-302 that is in preclinical stage to improve the treatment of methylmalonic acidemia.

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