Seres Therapeutics (NASDAQ:MCRB) Announces Earnings Results, Beats Expectations By $2.65 EPS

Seres Therapeutics (NASDAQ:MCRB) released its earnings results on Wednesday. The biotechnology company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.18) by $2.65, FiscalAI reports. The firm had revenue of $0.74 million during the quarter, compared to the consensus estimate of $0.18 million.

Seres Therapeutics Stock Down 3.8%

Shares of Seres Therapeutics stock traded down $0.19 on Thursday, reaching $4.82. The company’s stock had a trading volume of 80,159 shares, compared to its average volume of 72,053. The company has a market capitalization of $46.66 million, a P/E ratio of -0.93 and a beta of 0.20. Seres Therapeutics has a 52-week low of $4.59 and a 52-week high of $29.98. The stock has a 50-day moving average price of $6.29 and a 200-day moving average price of $8.55.

Analyst Upgrades and Downgrades

MCRB has been the topic of a number of recent analyst reports. Zacks Research upgraded Seres Therapeutics to a “hold” rating in a research note on Tuesday, June 23rd. Wall Street Zen raised Seres Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Saturday, June 6th. HC Wainwright started coverage on Seres Therapeutics in a report on Tuesday, June 23rd. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, Weiss Ratings lowered Seres Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 18th. Two research 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $17.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in Seres Therapeutics by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 86,142 shares of the biotechnology company’s stock valued at $1,282,000 after acquiring an additional 1,160 shares during the last quarter. Invesco Ltd. grew its position in shares of Seres Therapeutics by 37.5% in the fourth quarter. Invesco Ltd. now owns 14,360 shares of the biotechnology company’s stock valued at $214,000 after purchasing an additional 3,918 shares in the last quarter. State Street Corp increased its holdings in shares of Seres Therapeutics by 14.0% in the fourth quarter. State Street Corp now owns 33,901 shares of the biotechnology company’s stock valued at $504,000 after purchasing an additional 4,170 shares during the last quarter. Vontobel Holding Ltd. lifted its position in Seres Therapeutics by 4.8% during the fourth quarter. Vontobel Holding Ltd. now owns 103,234 shares of the biotechnology company’s stock worth $1,536,000 after buying an additional 4,723 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in 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 buying an additional 5,157 shares during the last quarter. Hedge funds and other institutional investors own 59.34% of the company’s stock.

Seres Therapeutics Company Profile

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.