Canaccord Genuity Group Reiterates "Buy" Rating for Seres Therapeutics (NASDAQ:MCRB)

Canaccord Genuity Group restated their buy rating on shares of Seres Therapeutics (NASDAQ:MCRB - Free Report) in a report published on Thursday,Benzinga reports. Canaccord Genuity Group currently has a $10.00 target price on the biotechnology company's stock.

A number of other research firms have also recently issued reports on MCRB. Chardan Capital reiterated a "buy" rating and issued a $1.25 target price on shares of Seres Therapeutics in a research note on Wednesday. StockNews.com cut shares of Seres Therapeutics from a "hold" rating to a "sell" rating in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. cut Seres Therapeutics from a "neutral" rating to an "underweight" rating in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Seres Therapeutics presently has a consensus rating of "Hold" and an average target price of $5.08.

Seres Therapeutics Price Performance

Shares of Seres Therapeutics stock remained flat at $0.59 during trading on Thursday. 1,979,907 shares of the stock traded hands, compared to its average volume of 4,329,908. Seres Therapeutics has a 1-year low of $0.54 and a 1-year high of $2.05. The stock's 50-day simple moving average is $0.86 and its 200 day simple moving average is $0.92. The stock has a market cap of $100.78 million, a P/E ratio of -0.50 and a beta of 2.06.

Seres Therapeutics (NASDAQ:MCRB - Get Free Report) last announced its earnings results on Tuesday, August 13th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.08. During the same quarter last year, the company earned $0.36 EPS. On average, sell-side analysts predict that Seres Therapeutics will post -0.92 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Seres Therapeutics during the 1st quarter worth approximately $39,000. Vanguard Group Inc. raised its stake in shares of Seres Therapeutics by 12.1% in the 1st quarter. Vanguard Group Inc. now owns 6,734,821 shares of the biotechnology company's stock valued at $5,213,000 after buying an additional 729,514 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Seres Therapeutics during the 1st quarter worth about $73,000. Providence Wealth Advisors LLC lifted its stake in Seres Therapeutics by 49.5% during the second quarter. Providence Wealth Advisors LLC now owns 76,250 shares of the biotechnology company's stock worth $58,000 after purchasing an additional 25,250 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in shares of Seres Therapeutics in the 2nd quarter valued at approximately $64,000. 59.34% of the stock is owned by institutional investors.

About Seres Therapeutics

Seres Therapeutics, Inc, a microbiome therapeutics company, develop microbiome therapeutics to treat the modulation of the colonic microbiome. It develops a novel class of biological drugs that are designed to treat by modulating the microbiome to restore health by repairing the function of a disrupted microbiome to a non-disease state.