Canaccord Genuity Group Reiterates Buy Rating for Seres Therapeutics (NASDAQ:MCRB)

Canaccord Genuity Group restated their buy rating on shares of Seres Therapeutics (NASDAQ:MCRB) in a report issued on Thursday morning,Benzinga reports. Canaccord Genuity Group currently has a $10.00 target price on the biotechnology company’s stock.

Other equities analysts also recently issued reports about the company. Chardan Capital restated a “buy” rating and issued a $1.25 price target on shares of Seres Therapeutics in a research note on Wednesday, November 13th. JPMorgan Chase & Co. downgraded Seres Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Thursday, October 24th. Finally, StockNews.com downgraded Seres Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.08.

Seres Therapeutics Price Performance

MCRB stock opened at $0.55 on Thursday. The company has a market cap of $93.85 million, a P/E ratio of -2.39 and a beta of 2.06. Seres Therapeutics has a 1 year low of $0.54 and a 1 year high of $2.05. The stock’s fifty day moving average price is $0.85 and its 200-day moving average price is $0.91.

Hedge Funds Weigh In On Seres Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Seres Therapeutics in the first quarter valued at about $39,000. Providence Wealth Advisors LLC lifted its position in shares of Seres Therapeutics by 49.5% in the second quarter. Providence Wealth Advisors LLC now owns 76,250 shares of the biotechnology company’s stock valued at $58,000 after acquiring an additional 25,250 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Seres Therapeutics in the second quarter valued at about $64,000. Virtu Financial LLC purchased a new position in shares of Seres Therapeutics in the first quarter valued at about $73,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Seres Therapeutics in the second quarter valued at about $92,000. 59.34% of the stock is currently owned by hedge funds and other institutional investors.

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.