Seres Therapeutics (NASDAQ:MCRB) Shares Cross Below 50 Day Moving Average – Here’s Why

Seres Therapeutics, Inc. (NASDAQ:MCRB)’s stock price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $7.73 and traded as low as $5.31. Seres Therapeutics shares last traded at $5.62, with a volume of 152,604 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MCRB. Wall Street Zen upgraded shares of Seres Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. Canaccord Genuity Group restated a “buy” rating and set a $22.00 target price on shares of Seres Therapeutics in a research report on Friday, March 13th. Finally, Weiss Ratings lowered shares of Seres Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 18th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.00.

Seres Therapeutics Trading Down 1.4%

The firm has a market cap of $54.40 million, a price-to-earnings ratio of -1.09 and a beta of 0.12. The company’s 50-day moving average is $7.73 and its 200-day moving average is $11.12.

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

Institutional Trading of Seres Therapeutics

Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of Seres Therapeutics by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 86,142 shares of the biotechnology company’s stock worth $1,282,000 after acquiring an additional 1,160 shares in the last quarter. Invesco Ltd. boosted its position in shares of Seres Therapeutics by 37.5% during the 4th quarter. Invesco Ltd. now owns 14,360 shares of the biotechnology company’s stock worth $214,000 after acquiring an additional 3,918 shares in the last quarter. State Street Corp boosted its position in shares of Seres Therapeutics by 14.0% during the 4th quarter. State Street Corp now owns 33,901 shares of the biotechnology company’s stock worth $504,000 after acquiring an additional 4,170 shares in the last quarter. Vontobel Holding Ltd. boosted its position in shares of Seres Therapeutics by 4.8% during the 4th quarter. Vontobel Holding Ltd. now owns 103,234 shares of the biotechnology company’s stock worth $1,536,000 after acquiring an additional 4,723 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Seres Therapeutics by 2,772.6% during the 3rd quarter. Bank of America Corp DE now owns 5,343 shares of the biotechnology company’s stock worth $103,000 after acquiring an additional 5,157 shares in the last quarter. Institutional investors and hedge funds 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.