Seres Therapeutics (NASDAQ:MCRB) Coverage Initiated at JPMorgan Chase & Co.

Posted by Defense World Staff on Apr 23rd, 2023

Investment analysts at JPMorgan Chase & Co. initiated coverage on shares of Seres Therapeutics (NASDAQ:MCRB – Get Rating) in a research report issued to clients and investors on Friday, The Fly reports. The brokerage set a “neutral” rating and a $7.00 price target on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 8.70% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. Chardan Capital reissued a “buy” rating and issued a $12.00 price objective on shares of Seres Therapeutics in a report on Wednesday, March 8th. Canaccord Genuity Group upped their price objective on shares of Seres Therapeutics from $11.00 to $15.00 and gave the company a “buy” rating in a report on Tuesday, March 21st. HC Wainwright reissued a “buy” rating and issued a $25.00 price objective on shares of Seres Therapeutics in a report on Wednesday, March 8th. Finally, StockNews.com initiated coverage on shares of Seres Therapeutics in a report on Thursday, March 16th. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.40.

Seres Therapeutics Price Performance

Seres Therapeutics stock opened at $6.44 on Friday. Seres Therapeutics has a 52-week low of $2.50 and a 52-week high of $9.49. The firm has a market capitalization of $811.96 million, a price-to-earnings ratio of -2.75 and a beta of 2.65. The company has a fifty day simple moving average of $5.58 and a 200-day simple moving average of $6.04. The company has a quick ratio of 2.28, a current ratio of 2.28 and a debt-to-equity ratio of 4.69.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC lifted its position in shares of Seres Therapeutics by 2.4% during the third quarter. Janney Montgomery Scott LLC now owns 84,800 shares of the biotechnology company’s stock worth $544,000 after purchasing an additional 2,000 shares in the last quarter. Aries Wealth Management lifted its position in shares of Seres Therapeutics by 20.0% during the first quarter. Aries Wealth Management now owns 12,000 shares of the biotechnology company’s stock worth $68,000 after purchasing an additional 2,000 shares in the last quarter. E Fund Management Co. Ltd. lifted its position in shares of Seres Therapeutics by 18.5% during the fourth quarter. E Fund Management Co. Ltd. now owns 16,667 shares of the biotechnology company’s stock worth $93,000 after purchasing an additional 2,597 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its position in shares of Seres Therapeutics by 199.6% during the third quarter. Metropolitan Life Insurance Co NY now owns 4,264 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 2,841 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Seres Therapeutics by 20.6% during the third quarter. ProShare Advisors LLC now owns 18,204 shares of the biotechnology company’s stock worth $117,000 after purchasing an additional 3,107 shares in the last quarter. Hedge funds and other institutional investors own 90.16% of the company’s stock.

About Seres Therapeutics

(Get Rating)

Seres Therapeutics, Inc engages in the development of biological drugs through microbiome therapeutics platform. Its product pipeline includes SER-109, SER-287, SER-301, and SER-401. The company was founded by Geoffrey von Maltzahn, David A. Berry, and Noubar B. Afeyan on October 18, 2010 and is headquartered in Cambridge, MA.