Seres Therapeutics (NASDAQ:MCRB) Shares Cross Below 50 Day Moving Average – Here’s Why

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 $16.63 and traded as low as $15.00. Seres Therapeutics shares last traded at $15.18, with a volume of 60,238 shares traded.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group boosted their price objective on shares of Seres Therapeutics from $14.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Weiss Ratings restated a “sell (d)” rating on shares of Seres Therapeutics in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and an average target price of $14.33.

Seres Therapeutics Stock Performance

The business’s 50 day moving average price is $16.67 and its 200-day moving average price is $16.61. The company has a market cap of $144.39 million, a price-to-earnings ratio of -4.47 and a beta of 0.22.

Hedge Funds Weigh In On Seres Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its stake 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 purchasing an additional 21,679 shares in the last quarter. Vanguard Group Inc. grew its stake in Seres Therapeutics by 6.8% during the third quarter. Vanguard Group Inc. now owns 311,889 shares of the biotechnology company’s stock worth $6,001,000 after buying an additional 19,793 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Seres Therapeutics during the second quarter worth approximately $1,016,000. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Seres Therapeutics during the third quarter worth approximately $557,000. Finally, Bank of America Corp DE raised its stake in shares of Seres Therapeutics by 2,772.6% in the third quarter. Bank of America Corp DE now owns 5,343 shares of the biotechnology company’s stock valued at $103,000 after acquiring an additional 5,157 shares during the last quarter. Institutional investors own 59.34% of the company’s stock.

Seres Therapeutics Company Profile

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.