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

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

Seres Therapeutics Stock Performance

MCRB traded down $0.19 on Thursday, hitting $4.82. 80,159 shares of the company were exchanged, compared to its average volume of 72,053. The firm has a fifty day simple moving average of $6.29 and a two-hundred day simple moving average of $8.55. The stock has a market capitalization of $46.66 million, a PE ratio of -0.93 and a beta of 0.20. Seres Therapeutics has a 12 month low of $4.59 and a 12 month high of $29.98.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MCRB shares. 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. HC Wainwright started coverage on shares of Seres Therapeutics in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $12.00 target price on the stock. Weiss Ratings downgraded shares of Seres Therapeutics from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 18th. Finally, Zacks Research raised shares of Seres Therapeutics to a “hold” rating in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $17.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MCRB. OMERS ADMINISTRATION Corp bought a new position in shares of Seres Therapeutics during the fourth quarter valued at approximately $214,000. State Street Corp boosted its position in Seres Therapeutics by 14.0% during the 4th quarter. State Street Corp now owns 33,901 shares of the biotechnology company’s stock valued at $504,000 after acquiring an additional 4,170 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in shares of Seres Therapeutics by 4.8% in the 4th quarter. Vontobel Holding Ltd. now owns 103,234 shares of the biotechnology company’s stock valued at $1,536,000 after purchasing an additional 4,723 shares during the period. Geode Capital Management LLC lifted its position in Seres Therapeutics by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 86,142 shares of the biotechnology company’s stock valued at $1,282,000 after buying an additional 1,160 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new position in shares of Seres Therapeutics in the 3rd quarter worth about $557,000. Institutional investors 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.