Short Interest in Seres Therapeutics Inc (NASDAQ:MCRB) Declines By 35.4%

Seres Therapeutics Inc (NASDAQ:MCRB) saw a significant decrease in short interest during the month of June. As of June 30th, there was short interest totalling 4,328,500 shares, a decrease of 35.4% from the May 30th total of 6,701,700 shares. Approximately 20.9% of the shares of the company are sold short. Based on an average daily volume of 519,100 shares, the days-to-cover ratio is currently 8.3 days.

Shares of MCRB stock traded down $0.10 during trading on Friday, hitting $2.89. The company had a trading volume of 466,690 shares, compared to its average volume of 1,240,972. The company has a market cap of $122.87 million, a price-to-earnings ratio of -1.19 and a beta of 2.04. The stock’s 50-day simple moving average is $3.12. Seres Therapeutics has a one year low of $2.02 and a one year high of $9.26.

Seres Therapeutics (NASDAQ:MCRB) last issued its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.12). The company had revenue of $7.32 million during the quarter, compared to analyst estimates of $8.61 million. On average, sell-side analysts anticipate that Seres Therapeutics will post -1.75 EPS for the current fiscal year.

MCRB has been the topic of several research reports. Jefferies Financial Group decreased their target price on Seres Therapeutics from $6.00 to $4.00 and set a “hold” rating on the stock in a research report on Monday, July 1st. ValuEngine cut Yext from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 10th. Oppenheimer set a $13.00 price target on Alpine Immune Sciences and gave the company a “buy” rating in a research note on Tuesday, March 19th. Zacks Investment Research cut GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research note on Thursday, July 4th. Finally, Cantor Fitzgerald reiterated a “buy” rating and issued a $15.00 price target on shares of Foamix Pharmaceuticals in a research note on Tuesday, May 7th. Three analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. Seres Therapeutics has a consensus rating of “Hold” and an average target price of $10.25.

In other news, Director Noubar Afeyan bought 8,888,888 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were bought at an average price of $2.25 per share, with a total value of $19,999,998.00. Following the completion of the transaction, the director now owns 15,141 shares of the company’s stock, valued at $34,067.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 37.00% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. D. E. Shaw & Co. Inc. lifted its stake in Seres Therapeutics by 5.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 307,930 shares of the biotechnology company’s stock worth $1,392,000 after purchasing an additional 17,194 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Seres Therapeutics during the first quarter worth $5,504,000. Alpine Woods Capital Investors LLC bought a new stake in Seres Therapeutics during the first quarter worth $412,000. Marshall Wace LLP bought a new stake in Seres Therapeutics during the first quarter worth $842,000. Finally, Two Sigma Investments LP bought a new stake in Seres Therapeutics during the fourth quarter worth $82,000. Hedge funds and other institutional investors own 82.03% of the company’s stock.

Seres Therapeutics Company Profile

Seres Therapeutics, Inc, a microbiome therapeutics platform company, engages in developing biological drugs that are designed to treat disease by restoring the function of a dysbiotic microbiome. The company's advanced program is the SER-109, which is in Phase III clinical development for reducing recurrent clostridium difficile infection (CDI).

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