Seres Therapeutics (NASDAQ:MCRB) Share Price Passes Below 50-Day Moving Average – Here’s What Happened

Seres Therapeutics, Inc. (NASDAQ:MCRB)’s stock price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $11.38 and traded as low as $8.11. Seres Therapeutics shares last traded at $8.28, with a volume of 37,720 shares trading hands.

Wall Street Analysts Forecast Growth

MCRB has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Seres Therapeutics in a report on Monday, December 29th. Wall Street Zen lowered shares of Seres Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $22.00 target price on shares of Seres Therapeutics in a research note on Friday, March 13th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Seres Therapeutics has an average rating of “Hold” and an average price target of $14.00.

Seres Therapeutics Trading Up 2.1%

The stock has a market capitalization of $89.47 million, a price-to-earnings ratio of 14.14 and a beta of 0.31. The business has a 50 day simple moving average of $11.12 and a 200-day simple moving average of $15.16.

Seres Therapeutics (NASDAQ:MCRB) last posted its quarterly earnings data on Thursday, March 12th. The biotechnology company reported ($1.89) 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. Research analysts predict that Seres Therapeutics, Inc. will post -0.38 EPS for the current year.

Institutional Trading of Seres Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its position 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 worth $52,000 after buying an additional 21,679 shares during the period. Invesco Ltd. increased 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 during the last quarter. Bank of America Corp DE increased its stake in Seres Therapeutics by 2,772.6% during the third quarter. Bank of America Corp DE now owns 5,343 shares of the biotechnology company’s stock worth $103,000 after acquiring an additional 5,157 shares during the last quarter. Barclays PLC raised its holdings in shares of Seres Therapeutics by 427.8% in the 4th quarter. Barclays PLC now owns 7,432 shares of the biotechnology company’s stock worth $111,000 after purchasing an additional 6,024 shares during the period. Finally, ExodusPoint Capital Management LP purchased a new position in shares of Seres Therapeutics in the 4th quarter worth about $190,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

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.