Seres Therapeutics (NASDAQ:MCRB) Earns “Buy” Rating from Canaccord Genuity Group

Seres Therapeutics (NASDAQ:MCRB)‘s stock had its “buy” rating reiterated by Canaccord Genuity Group in a note issued to investors on Friday,Benzinga reports. They currently have a $22.00 target price on the biotechnology company’s stock. Canaccord Genuity Group’s target price would suggest a potential upside of 154.92% from the company’s previous close.

MCRB has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Seres Therapeutics in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Seres Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Seres Therapeutics presently has a consensus rating of “Hold” and an average target price of $14.00.

Seres Therapeutics Stock Down 4.6%

NASDAQ:MCRB opened at $8.63 on Friday. The stock has a market cap of $78.10 million, a P/E ratio of 13.08 and a beta of 0.31. The firm’s fifty day simple moving average is $12.34 and its 200 day simple moving average is $15.77. Seres Therapeutics has a twelve month low of $6.53 and a twelve month high of $29.98.

Seres Therapeutics (NASDAQ:MCRB) last issued its quarterly earnings data on Thursday, March 12th. The biotechnology company reported ($1.89) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.39) by $0.50. The company had revenue of $0.44 million for the quarter. On average, analysts expect that Seres Therapeutics will post -0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Seres Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in Seres Therapeutics during the 2nd quarter valued at about $1,016,000. Invesco Ltd. boosted its stake 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. 683 Capital Management LLC purchased a new stake in Seres Therapeutics in the fourth quarter worth about $778,000. Schonfeld Strategic Advisors LLC purchased a new stake in Seres Therapeutics in the third quarter worth about $557,000. Finally, XTX Topco Ltd bought a new position in shares of Seres Therapeutics during the second quarter valued at approximately $249,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.

About Seres Therapeutics

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.