Selecta Biosciences (SELB) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Selecta Biosciences (NASDAQ:SELB) from a buy rating to a hold rating in a research note issued to investors on Thursday morning.

According to Zacks, “Selecta Biosciences, Inc. is a biopharmaceutical company which develops targeted immunotherapies and vaccines. Its product pipelineincludes gene therapy, food allergy, malaria; SEL-212, which is a therapeutic enzyme indicated for refractory gout; SEL-070, which is indicated for smoking cessation and relapse prevention; SEL-701, which is indicated for the treatment of human papillomavirus associated cancer and SEL-212 consists of SVP-Rapamycin co-administered with pegsiticase, its pegylated uricase. Selecta Biosciences, Inc. is based in Watertown, United States. “

A number of other brokerages have also issued reports on SELB. Janney Montgomery Scott restated a buy rating on shares of Selecta Biosciences in a research note on Tuesday, October 23rd. Mizuho restated a buy rating and issued a $30.00 target price on shares of Selecta Biosciences in a research note on Monday, November 5th. BidaskClub lowered shares of Selecta Biosciences from a buy rating to a hold rating in a research note on Friday, October 5th. UBS Group set a $6.00 target price on shares of Selecta Biosciences and gave the company a hold rating in a research note on Friday, November 9th. Finally, Stifel Nicolaus restated a buy rating on shares of Selecta Biosciences in a research note on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Selecta Biosciences currently has a consensus rating of Hold and an average price target of $23.21.

Shares of Selecta Biosciences stock traded down $0.05 during trading on Thursday, reaching $2.39. The company had a trading volume of 238,925 shares, compared to its average volume of 362,825. The firm has a market cap of $59.45 million, a PE ratio of -0.75 and a beta of 2.62. Selecta Biosciences has a fifty-two week low of $2.28 and a fifty-two week high of $16.55.

Selecta Biosciences (NASDAQ:SELB) last issued its earnings results on Thursday, November 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.08. Equities analysts expect that Selecta Biosciences will post -2.92 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers raised its stake in Selecta Biosciences by 43.7% during the second quarter. Rhumbline Advisers now owns 16,792 shares of the company’s stock worth $222,000 after acquiring an additional 5,103 shares during the period. Vanguard Group Inc raised its stake in Selecta Biosciences by 1.1% during the third quarter. Vanguard Group Inc now owns 655,771 shares of the company’s stock worth $10,197,000 after acquiring an additional 6,859 shares during the period. Schwab Charles Investment Management Inc. raised its stake in Selecta Biosciences by 37.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 33,700 shares of the company’s stock worth $447,000 after acquiring an additional 9,100 shares during the period. Bank of New York Mellon Corp grew its position in Selecta Biosciences by 27.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 47,273 shares of the company’s stock worth $626,000 after purchasing an additional 10,114 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Selecta Biosciences in the 3rd quarter worth about $196,000. Hedge funds and other institutional investors own 51.04% of the company’s stock.

Selecta Biosciences Company Profile

Selecta Biosciences, Inc, a clinical-stage biopharmaceutical company, researches and develops nanoparticle immunomodulatory drugs for the treatment and prevention of human diseases. Its proprietary pipeline includes synthetic vaccine particles (SPV)-enabled enzyme, oncology, and gene therapies. The company's lead product is SEL-212 that in Phase II clinical trial to treat severe gout patients and resolve their symptoms, including flares and gouty arthritis.

See Also: Initial Public Offering (IPO)

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