Lord Abbett & CO. LLC Has $20.85 Million Stock Holdings in Seres Therapeutics, Inc. (NASDAQ:MCRB)

Lord Abbett & CO. LLC lifted its stake in Seres Therapeutics, Inc. (NASDAQ:MCRB) by 24.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 874,124 shares of the biotechnology company’s stock after purchasing an additional 174,075 shares during the quarter. Lord Abbett & CO. LLC owned 0.95% of Seres Therapeutics worth $20,848,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Board of Administration of Florida Retirement System raised its holdings in Seres Therapeutics by 22.5% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 28,998 shares of the biotechnology company’s stock worth $692,000 after buying an additional 5,323 shares during the period. Citigroup Inc. raised its holdings in shares of Seres Therapeutics by 1.2% during the second quarter. Citigroup Inc. now owns 202,860 shares of the biotechnology company’s stock valued at $4,838,000 after acquiring an additional 2,387 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Seres Therapeutics by 559.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,890 shares of the biotechnology company’s stock valued at $93,000 after acquiring an additional 3,300 shares in the last quarter. Swiss National Bank boosted its stake in Seres Therapeutics by 3.4% in the 2nd quarter. Swiss National Bank now owns 150,800 shares of the biotechnology company’s stock worth $3,597,000 after purchasing an additional 4,900 shares during the period. Finally, Rhumbline Advisers boosted its stake in Seres Therapeutics by 11.7% in the 2nd quarter. Rhumbline Advisers now owns 78,847 shares of the biotechnology company’s stock worth $1,881,000 after purchasing an additional 8,244 shares during the period. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:MCRB opened at $6.91 on Wednesday. The company has a market capitalization of $633.78 million, a P/E ratio of -4.73 and a beta of 3.98. The stock’s 50 day moving average price is $8.32 and its 200 day moving average price is $16.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 4.00 and a current ratio of 4.00. Seres Therapeutics, Inc. has a 52 week low of $5.41 and a 52 week high of $38.50.

Seres Therapeutics (NASDAQ:MCRB) last posted its earnings results on Tuesday, August 3rd. The biotechnology company reported ($0.53) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($0.12). The business had revenue of $5.26 million during the quarter, compared to the consensus estimate of $4.40 million. Seres Therapeutics had a negative return on equity of 87.12% and a negative net margin of 441.65%. As a group, sell-side analysts forecast that Seres Therapeutics, Inc. will post -1.86 earnings per share for the current fiscal year.

MCRB has been the subject of several recent analyst reports. Piper Sandler decreased their target price on Seres Therapeutics from $40.00 to $32.00 and set an “overweight” rating for the company in a research report on Thursday, July 22nd. Chardan Capital reaffirmed a “buy” rating and set a $16.00 target price on shares of Seres Therapeutics in a research note on Wednesday, August 4th. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of Seres Therapeutics in a research report on Wednesday, August 4th. The Goldman Sachs Group downgraded shares of Seres Therapeutics from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $24.00 to $7.00 in a research report on Friday, July 23rd. Finally, Oppenheimer reiterated an “outperform” rating and issued a $16.00 target price (down previously from $18.00) on shares of Seres Therapeutics in a research report on Tuesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.83.

Seres Therapeutics Company Profile

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.

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Institutional Ownership by Quarter for Seres Therapeutics (NASDAQ:MCRB)

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