Seres Therapeutics Inc. (MCRB) Releases Earnings Results, Beats Expectations By $0.04 EPS
Seres Therapeutics Inc. (NASDAQ:MCRB) released its earnings results on Thursday. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.50) by $0.04. The business earned $13.02 million during the quarter, compared to analysts’ expectations of $10.38 million. Seres Therapeutics’s revenue for the quarter was up NaN% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.38) EPS.
Seres Therapeutics (NASDAQ:MCRB) opened at 11.40 on Thursday. The firm’s 50-day moving average is $11.83 and its 200 day moving average is $20.28. Seres Therapeutics has a 52-week low of $8.05 and a 52-week high of $44.51. The firm’s market capitalization is $459.12 million.
In related news, insider John G. Aunins sold 9,390 shares of the company’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $10.87, for a total value of $102,069.30. Following the transaction, the insider now owns 192,125 shares in the company, valued at approximately $2,088,398.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 41.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors raised its position in shares of Seres Therapeutics by 8.2% in the first quarter. BlackRock Fund Advisors now owns 716,515 shares of the company’s stock worth $19,031,000 after buying an additional 54,438 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Seres Therapeutics by 1.8% in the first quarter. UBS Asset Management Americas Inc. now owns 88,551 shares of the company’s stock worth $2,352,000 after buying an additional 1,530 shares during the period. Bridger Management LLC bought a new position in shares of Seres Therapeutics during the first quarter worth approximately $18,890,000. Flagship Ventures Fund 2007 L.P. bought a new position in shares of Seres Therapeutics during the first quarter worth approximately $15,917,000. Finally, Flagship Ventures Fund IV L.P. bought a new position in shares of Seres Therapeutics during the first quarter worth approximately $374,060,000. Institutional investors and hedge funds own 78.30% of the company’s stock.
Several analysts recently issued reports on the company. Leerink Swann reiterated an “outperform” rating and set a $12.00 price objective (down from $43.00) on shares of Seres Therapeutics in a report on Monday, August 1st. Cowen and Company reiterated a “buy” rating on shares of Seres Therapeutics in a report on Tuesday, July 19th. Bank of America Corp. lowered Seres Therapeutics from a “buy” rating to a “neutral” rating in a report on Monday, August 1st. FBR & Co cut their price objective on Seres Therapeutics from $43.00 to $23.00 and set an “outperform” rating for the company in a report on Friday, August 12th. Finally, Zacks Investment Research lowered Seres Therapeutics from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $30.00.
About Seres Therapeutics
Seres Therapeutics, Inc is a microbiome therapeutics platform company. The Company is engaged in developing a class of biological drugs, which is referred as Ecobiotic microbiome therapeutics. The Company is focused on implementing its microbiome therapeutics platform to develop Ecobiotic microbiome therapeutics that treats dysbiosis in the colonic microbiome.
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