Canaccord Genuity Group Reaffirms “Buy” Rating for Seres Therapeutics (NASDAQ:MCRB)

Canaccord Genuity Group reiterated their buy rating on shares of Seres Therapeutics (NASDAQ:MCRB) in a research note published on Thursday morning,Benzinga reports. Canaccord Genuity Group currently has a $10.00 price objective on the biotechnology company’s stock.

Several other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut shares of Seres Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Thursday, October 24th. StockNews.com cut shares of Seres Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Finally, Chardan Capital reissued a “buy” rating and set a $1.25 price target on shares of Seres Therapeutics in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.08.

Seres Therapeutics Trading Down 6.9 %

Shares of NASDAQ:MCRB traded down $0.04 during trading on Thursday, reaching $0.55. 3,065,115 shares of the company traded hands, compared to its average volume of 4,324,283. The firm has a fifty day simple moving average of $0.86 and a 200 day simple moving average of $0.92. Seres Therapeutics has a 1-year low of $0.54 and a 1-year high of $2.05.

Seres Therapeutics (NASDAQ:MCRB) last released its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.08. During the same quarter in the prior year, the company posted $0.36 EPS. On average, equities analysts expect that Seres Therapeutics will post -0.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Seres Therapeutics by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 6,734,821 shares of the biotechnology company’s stock worth $5,213,000 after purchasing an additional 729,514 shares in the last quarter. Vontobel Holding Ltd. bought a new stake in shares of Seres Therapeutics during the 3rd quarter valued at approximately $374,000. Charles Schwab Investment Management Inc. grew its holdings in Seres Therapeutics by 42.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 748,718 shares of the biotechnology company’s stock worth $708,000 after acquiring an additional 222,771 shares during the last quarter. FMR LLC grew its holdings in Seres Therapeutics by 0.6% during the 3rd quarter. FMR LLC now owns 22,857,260 shares of the biotechnology company’s stock worth $21,625,000 after acquiring an additional 140,096 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Seres Therapeutics in the 2nd quarter worth approximately $92,000. Institutional investors 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.