Seres Therapeutics (NASDAQ:MCRB) Stock Passes Below 50 Day Moving Average – Here’s What Happened

Seres Therapeutics, Inc. (NASDAQ:MCRB)’s share price crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $18.13 and traded as low as $16.80. Seres Therapeutics shares last traded at $17.90, with a volume of 115,995 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MCRB. Canaccord Genuity Group raised their price target on Seres Therapeutics from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Weiss Ratings restated a “sell (d)” rating on shares of Seres Therapeutics in a report on Monday. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Seres Therapeutics presently has an average rating of “Reduce” and an average price target of $14.33.

Seres Therapeutics Price Performance

The company has a market capitalization of $162.00 million, a price-to-earnings ratio of -5.01 and a beta of 0.18. The firm has a 50-day moving average price of $18.13 and a two-hundred day moving average price of $14.90.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its holdings 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 acquiring an additional 21,679 shares in the last quarter. Invesco Ltd. raised its holdings in Seres Therapeutics by 193.2% during 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 in the last quarter. Bank of America Corp DE boosted its position in 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 purchasing an additional 5,157 shares during the last quarter. XTX Topco Ltd bought a new position in Seres Therapeutics in the second quarter valued at approximately $249,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Seres Therapeutics during the 3rd quarter worth approximately $557,000. Institutional investors and hedge funds own 59.34% of the company’s stock.

About Seres Therapeutics

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.