Seres Therapeutics, Inc. (NASDAQ:MCRB) Sees Large Drop in Short Interest

Seres Therapeutics, Inc. (NASDAQ:MCRB) was the target of a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 17,000,000 shares, a decline of 17.8% from the June 30th total of 20,690,000 shares. Based on an average daily volume of 4,960,000 shares, the days-to-cover ratio is currently 3.4 days.

Seres Therapeutics Price Performance

Seres Therapeutics stock traded up $0.11 during trading hours on Monday, reaching $1.43. The stock had a trading volume of 2,298,819 shares, compared to its average volume of 4,716,511. The company has a fifty day simple moving average of $0.94 and a 200-day simple moving average of $0.95. Seres Therapeutics has a 52 week low of $0.54 and a 52 week high of $5.29. The stock has a market cap of $216.57 million, a PE ratio of -2.38 and a beta of 1.98.

Seres Therapeutics (NASDAQ:MCRB) last posted its earnings results on Wednesday, May 8th. The biotechnology company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.09. Research analysts predict that Seres Therapeutics will post -1.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Seres Therapeutics

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Seres Therapeutics by 12.1% in the first quarter. Vanguard Group Inc. now owns 6,734,821 shares of the biotechnology company’s stock worth $5,213,000 after acquiring an additional 729,514 shares during the period. Handelsbanken Fonder AB lifted its position in shares of Seres Therapeutics by 10.0% in the 4th quarter. Handelsbanken Fonder AB now owns 1,100,000 shares of the biotechnology company’s stock worth $1,540,000 after purchasing an additional 100,000 shares during the period. Pennant Investors LP bought a new stake in shares of Seres Therapeutics during the 4th quarter valued at about $409,000. Virtu Financial LLC purchased a new position in shares of Seres Therapeutics during the first quarter valued at about $73,000. Finally, SG Americas Securities LLC purchased a new stake in Seres Therapeutics in the fourth quarter worth about $73,000. 59.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on MCRB. Chardan Capital cut their target price on shares of Seres Therapeutics from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, May 8th. Oppenheimer reiterated a “market perform” rating on shares of Seres Therapeutics in a report on Friday, June 7th. Canaccord Genuity Group decreased their price objective on Seres Therapeutics from $15.00 to $10.00 and set a “buy” rating on the stock in a report on Friday, June 7th. Finally, StockNews.com upgraded shares of Seres Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th.

Seres Therapeutics Company Profile

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.