Selecta Biosciences (SELB) Shares Up 41% Following Earnings Beat
Shares of Selecta Biosciences Inc (NASDAQ:SELB) shot up 41% during trading on Monday following a stronger than expected earnings report. The stock traded as high as $3.34 and last traded at $3.06. 1,788,645 shares traded hands during trading, an increase of 183% from the average session volume of 632,266 shares. The stock had previously closed at $2.17.
The company reported ($0.65) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.75) by $0.10. The firm had revenue of $0.90 million during the quarter.
SELB has been the subject of several research analyst reports. Canaccord Genuity lowered their target price on shares of Selecta Biosciences from $25.00 to $13.00 and set a “buy” rating for the company in a report on Monday. Zacks Investment Research cut shares of Selecta Biosciences from a “buy” rating to a “hold” rating in a report on Thursday, January 10th. Needham & Company LLC lowered their target price on shares of Selecta Biosciences to $12.00 and set a “buy” rating for the company in a report on Monday, January 28th. Stifel Nicolaus restated a “buy” rating and issued a $7.00 target price on shares of Selecta Biosciences in a report on Friday, March 15th. Finally, Mizuho lowered their target price on shares of Selecta Biosciences to $4.00 and set a “buy” rating for the company in a report on Monday, February 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $11.61.
Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of Selecta Biosciences by 17.9% in the 4th quarter. Geode Capital Management LLC now owns 175,308 shares of the company’s stock valued at $466,000 after buying an additional 26,568 shares in the last quarter. FMR LLC boosted its stake in Selecta Biosciences by 23.5% during the 4th quarter. FMR LLC now owns 345,046 shares of the company’s stock worth $918,000 after purchasing an additional 65,623 shares during the period. Two Sigma Advisers LP boosted its stake in Selecta Biosciences by 18.3% during the 4th quarter. Two Sigma Advisers LP now owns 54,900 shares of the company’s stock worth $146,000 after purchasing an additional 8,500 shares during the period. Two Sigma Investments LP boosted its stake in Selecta Biosciences by 87.8% during the 4th quarter. Two Sigma Investments LP now owns 200,498 shares of the company’s stock worth $533,000 after purchasing an additional 93,719 shares during the period. Finally, Barclays PLC boosted its stake in Selecta Biosciences by 87.6% during the 4th quarter. Barclays PLC now owns 12,661 shares of the company’s stock worth $34,000 after purchasing an additional 5,911 shares during the period. Institutional investors and hedge funds own 46.73% of the company’s stock.
The company has a market capitalization of $48.76 million, a price-to-earnings ratio of -0.86 and a beta of 1.55.
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About Selecta Biosciences (NASDAQ:SELB)
Selecta Biosciences, Inc, a clinical-stage biopharmaceutical company, researches and develops nanoparticle immunomodulatory drugs for the treatment and prevention of human diseases. Its proprietary pipeline includes synthetic vaccine particles (SPV)-enabled enzyme, oncology, and gene therapies. The company's lead product is SEL-212 that in Phase II clinical trial to treat severe gout patients and resolve their symptoms, including flares and gouty arthritis.
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