Short Interest in Seres Therapeutics, Inc. (NASDAQ:MCRB) Declines By 54.1%

Seres Therapeutics, Inc. (NASDAQ:MCRB) was the recipient of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 219,815 shares, a decline of 54.1% from the May 31st total of 478,817 shares. Currently, 2.4% of the company’s stock are sold short. Based on an average daily trading volume, of 102,140 shares, the days-to-cover ratio is currently 2.2 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its position in Seres Therapeutics by 40.9% in the first quarter. Goldman Sachs Group Inc. now owns 74,629 shares of the biotechnology company’s stock worth $52,000 after buying an additional 21,679 shares during the period. Invesco Ltd. grew its position in shares of Seres Therapeutics by 193.2% during the first quarter. Invesco Ltd. now owns 136,572 shares of the biotechnology company’s stock worth $96,000 after acquiring an additional 89,995 shares during the last quarter. Bank of America Corp DE grew its position in shares of Seres Therapeutics by 2,772.6% during the third 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 during the last quarter. Barclays PLC increased its holdings in shares of Seres Therapeutics by 427.8% in the 4th quarter. Barclays PLC now owns 7,432 shares of the biotechnology company’s stock worth $111,000 after acquiring an additional 6,024 shares during the period. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Seres Therapeutics in the 4th quarter worth about $190,000. 59.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MCRB has been the topic of a number of research analyst reports. HC Wainwright began coverage on Seres Therapeutics in a report on Tuesday, June 23rd. They set a “buy” rating and a $12.00 target price on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $22.00 price target on shares of Seres Therapeutics in a report on Friday, March 13th. Zacks Research raised Seres Therapeutics to a “hold” rating in a research report on Tuesday, June 23rd. Wall Street Zen upgraded Seres Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 6th. Finally, Weiss Ratings downgraded shares of Seres Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.00.

Seres Therapeutics Trading Up 0.6%

MCRB traded up $0.05 on Wednesday, hitting $7.94. 150,876 shares of the company’s stock were exchanged, compared to its average volume of 67,873. The firm has a market cap of $76.86 million, a PE ratio of -1.54 and a beta of 0.13. Seres Therapeutics has a twelve month low of $5.31 and a twelve month high of $29.98. The stock has a fifty day moving average of $7.32 and a two-hundred day moving average of $10.32.

Seres Therapeutics (NASDAQ:MCRB) last issued its earnings results on Tuesday, May 5th. The biotechnology company reported ($2.08) EPS for the quarter, missing analysts’ consensus estimates of ($1.88) by ($0.20). The business had revenue of $0.36 million during the quarter, compared to the consensus estimate of $0.36 million. On average, analysts predict that Seres Therapeutics will post -5.84 EPS for the current year.

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.