Seres Therapeutics (NASDAQ:MCRB) Releases Quarterly Earnings Results, Misses Estimates By $0.20 EPS
by Jessica Moore · The Cerbat GemSeres Therapeutics (NASDAQ:MCRB – Get Free Report) released its quarterly earnings results on Tuesday. The biotechnology company reported ($2.08) EPS for the quarter, missing the consensus estimate of ($1.88) by ($0.20), FiscalAI reports. The company had revenue of $0.36 million during the quarter, compared to analyst estimates of $0.41 million.
Seres Therapeutics Price Performance
Shares of MCRB traded down $0.50 during trading hours on Tuesday, hitting $7.19. 44,346 shares of the company were exchanged, compared to its average volume of 61,730. The company has a market capitalization of $69.23 million, a PE ratio of 10.91 and a beta of 0.12. The firm has a fifty day simple moving average of $8.69 and a 200-day simple moving average of $13.29. Seres Therapeutics has a one year low of $6.53 and a one year high of $29.98.
Analysts Set New Price Targets
MCRB has been the subject of several recent research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Seres Therapeutics in a report on Friday, March 27th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $22.00 target price on shares of Seres Therapeutics in a report on Friday, March 13th. Finally, Wall Street Zen lowered Seres Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $14.00.
Read Our Latest Research Report on MCRB
Institutional Trading of Seres Therapeutics
A number of hedge funds have recently modified their holdings of MCRB. Goldman Sachs Group Inc. lifted its holdings in shares of Seres Therapeutics by 40.9% in the first 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. Invesco Ltd. lifted its holdings in shares of Seres Therapeutics by 193.2% in the first quarter. Invesco Ltd. now owns 136,572 shares of the biotechnology company’s stock valued at $96,000 after purchasing an additional 89,995 shares in the last quarter. Bank of America Corp DE lifted its holdings 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 purchasing an additional 5,157 shares in the last quarter. Barclays PLC lifted its holdings in shares of Seres Therapeutics by 427.8% in the fourth quarter. Barclays PLC now owns 7,432 shares of the biotechnology company’s stock valued at $111,000 after purchasing an additional 6,024 shares in the last quarter. Finally, ExodusPoint Capital Management LP purchased a new stake in shares of Seres Therapeutics in the fourth quarter valued at $190,000. Hedge funds and other institutional investors own 59.34% of the company’s stock.
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.