Seres Therapeutics, Inc. (NASDAQ:MCRB) Short Interest Up 25.0% in June

Posted by on Jul 18th, 2023

Seres Therapeutics, Inc. (NASDAQ:MCRB – Get Free Report) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 22,830,000 shares, an increase of 25.0% from the June 15th total of 18,260,000 shares. Based on an average daily volume of 3,620,000 shares, the short-interest ratio is presently 6.3 days.

Analysts Set New Price Targets

Several research firms recently issued reports on MCRB. JPMorgan Chase & Co. began coverage on Seres Therapeutics in a report on Friday, April 21st. They set a “neutral” rating and a $7.00 target price on the stock. Chardan Capital dropped their target price on Seres Therapeutics from $12.00 to $10.00 in a report on Friday, April 28th. Canaccord Genuity Group upped their target price on Seres Therapeutics from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Tuesday, March 21st. Oppenheimer began coverage on Seres Therapeutics in a report on Monday, June 26th. They set an “outperform” rating and a $12.00 target price on the stock. Finally, StockNews.com lowered Seres Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $13.67.

Seres Therapeutics Price Performance

NASDAQ:MCRB opened at $4.75 on Tuesday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 4.69. The stock’s 50 day moving average price is $5.09 and its two-hundred day moving average price is $5.37. The firm has a market capitalization of $607.53 million, a price-to-earnings ratio of -2.07 and a beta of 2.56. Seres Therapeutics has a 12-month low of $3.37 and a 12-month high of $9.49.

Seres Therapeutics (NASDAQ:MCRB – Get Free Report) last released its quarterly earnings data on Tuesday, May 9th. The biotechnology company reported ($0.57) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.57). The firm had revenue of ($0.52) million for the quarter, compared to analyst estimates of $1.58 million. Seres Therapeutics had a negative return on equity of 1,977.08% and a negative net margin of 3,509.50%. The business’s revenue for the quarter was down 134.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.61) earnings per share. On average, analysts anticipate that Seres Therapeutics will post -0.86 earnings per share for the current year.

Insider Activity

In other news, insider David S. Ege sold 7,038 shares of the business’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $5.19, for a total value of $36,527.22. Following the sale, the insider now directly owns 59,696 shares in the company, valued at $309,822.24. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Seres Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Sit Investment Associates Inc. grew its position in shares of Seres Therapeutics by 33.2% in the fourth quarter. Sit Investment Associates Inc. now owns 265,000 shares of the biotechnology company’s stock valued at $1,484,000 after purchasing an additional 66,000 shares during the last quarter. Eversept Partners LP grew its position in shares of Seres Therapeutics by 13.7% in the fourth quarter. Eversept Partners LP now owns 2,200,999 shares of the biotechnology company’s stock valued at $12,326,000 after purchasing an additional 265,174 shares during the last quarter. Macroview Investment Management LLC acquired a new position in shares of Seres Therapeutics in the first quarter valued at approximately $33,000. Principal Financial Group Inc. grew its position in shares of Seres Therapeutics by 99.5% in the fourth quarter. Principal Financial Group Inc. now owns 41,653 shares of the biotechnology company’s stock valued at $233,000 after purchasing an additional 20,771 shares during the last quarter. Finally, Aries Wealth Management grew its position in shares of Seres Therapeutics by 20.0% in the first quarter. Aries Wealth Management now owns 12,000 shares of the biotechnology company’s stock valued at $68,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors own 82.15% of the company’s stock.

About Seres Therapeutics

(Get Free Report)

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.

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