Shares of Selecta Biosciences Inc (NASDAQ:SELB) dropped 17.6% during trading on Tuesday after Canaccord Genuity lowered their price target on the stock from $25.00 to $13.00. Canaccord Genuity currently has a buy rating on the stock. Selecta Biosciences traded as low as $2.35 and last traded at $2.52. Approximately 1,583,434 shares were traded during trading, an increase of 143% from the average daily volume of 651,536 shares. The stock had previously closed at $3.06.
Several other research analysts have also issued reports on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $7.00 target price on shares of Selecta Biosciences in a research report on Friday, March 15th. Mizuho reduced their target price on Selecta Biosciences to $4.00 and set a “buy” rating on the stock in a research report on Monday, February 4th. Needham & Company LLC reduced their target price on Selecta Biosciences to $12.00 and set a “buy” rating on the stock in a research report on Monday, January 28th. ValuEngine lowered Selecta Biosciences from a “buy” rating to a “hold” rating in a research report on Thursday, January 24th. Finally, Zacks Investment Research lowered Selecta Biosciences from a “buy” rating to a “hold” rating in a research report on Thursday, January 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $11.61.
In other news, Director Amir Nashat purchased 1,166,666 shares of the company’s stock in a transaction on Friday, January 25th. The shares were acquired at an average price of $1.50 per share, for a total transaction of $1,749,999.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 25.20% of the stock is currently owned by insiders.
The company has a market cap of $68.76 million, a price-to-earnings ratio of -0.92 and a beta of 1.55.
Selecta Biosciences (NASDAQ:SELB) last issued its earnings results on Friday, March 15th. The company reported ($0.65) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.10. The company had revenue of $0.90 million during the quarter. As a group, research analysts expect that Selecta Biosciences Inc will post -1.7 earnings per share for the current year.
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About Selecta Biosciences (NASDAQ:SELB)
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.
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