Seres Therapeutics (NASDAQ:MCRB) Given New $22.00 Price Target at Canaccord Genuity Group

Seres Therapeutics (NASDAQ:MCRB) had its price objective boosted by Canaccord Genuity Group from $14.00 to $22.00 in a research note released on Wednesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the biotechnology company’s stock.

Seres Therapeutics Price Performance

MCRB opened at $19.39 on Wednesday. The stock’s 50 day simple moving average is $16.55 and its 200 day simple moving average is $12.38. Seres Therapeutics has a 1 year low of $6.53 and a 1 year high of $24.67. The firm has a market cap of $169.66 million, a price-to-earnings ratio of -4.22 and a beta of 0.15.

Seres Therapeutics (NASDAQ:MCRB) last posted its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported ($2.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.72) by $0.45. As a group, sell-side analysts anticipate that Seres Therapeutics will post -0.38 EPS for the current year.

Institutional Investors Weigh In On Seres Therapeutics

Large investors have recently made changes to their positions in the business. XTX Topco Ltd bought a new stake in shares of Seres Therapeutics in the 2nd quarter worth approximately $249,000. Jane Street Group LLC grew its position in shares of Seres Therapeutics by 181.4% in the 4th quarter. Jane Street Group LLC now owns 58,736 shares of the biotechnology company’s stock worth $49,000 after buying an additional 37,866 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of Seres Therapeutics by 221.8% in the 1st quarter. SBI Securities Co. Ltd. now owns 69,664 shares of the biotechnology company’s stock worth $49,000 after buying an additional 48,013 shares during the last quarter. Goldman Sachs Group Inc. grew its position 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 worth $52,000 after buying an additional 21,679 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Seres Therapeutics in the 2nd quarter worth approximately $1,016,000. 59.34% of the stock is currently owned by institutional investors.

Seres Therapeutics Company Profile

Seres Therapeutics, Inc, a microbiome therapeutics company, develop microbiome therapeutics to treat the modulation of the colonic microbiome. It develops a novel class of biological drugs that are designed to treat by modulating the microbiome to restore health by repairing the function of a disrupted microbiome to a non-disease state.