Seres Therapeutics (NASDAQ:MCRB) Stock Passes Below 50 Day Moving Average – What’s Next?

Seres Therapeutics, Inc. (NASDAQ:MCRB) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $8.13 and traded as low as $6.62. Seres Therapeutics shares last traded at $6.85, with a volume of 132,707 shares.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Canaccord Genuity Group reissued a “buy” rating and set a $22.00 price target on shares of Seres Therapeutics in a report on Friday, March 13th. Weiss Ratings cut Seres Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 18th. Finally, Wall Street Zen cut Seres Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $22.00.

Seres Therapeutics Stock Performance

The firm has a market capitalization of $66.34 million, a price-to-earnings ratio of -1.32 and a beta of 0.13. The company has a fifty day moving average of $8.13 and a two-hundred day moving average of $11.85.

Seres Therapeutics (NASDAQ:MCRB) last released its quarterly earnings results on Tuesday, May 5th. The biotechnology company reported ($2.08) earnings per share for the quarter, missing the consensus estimate of ($1.88) by ($0.20). The company had revenue of $0.36 million during the quarter, compared to analyst estimates of $0.36 million.

Hedge Funds Weigh In On Seres Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MCRB. Marshall Wace LLP acquired a new position in Seres Therapeutics in the 2nd quarter valued at $1,016,000. Invesco Ltd. raised its holdings in Seres Therapeutics by 193.2% in the 1st quarter. Invesco Ltd. now owns 136,572 shares of the biotechnology company’s stock valued at $96,000 after acquiring an additional 89,995 shares in the last quarter. 683 Capital Management LLC acquired a new position in Seres Therapeutics in the 4th quarter valued at $778,000. Schonfeld Strategic Advisors LLC acquired a new position in Seres Therapeutics in the 3rd quarter valued at $557,000. Finally, Goldman Sachs Group Inc. raised its holdings in 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 acquiring an additional 21,679 shares in the last quarter. 59.34% of the stock is 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.