Short Interest in Seres Therapeutics Inc (NASDAQ:MCRB) Declines By 25.5%

Seres Therapeutics Inc (NASDAQ:MCRB) saw a significant decrease in short interest in August. As of August 31st, there was short interest totalling 5,240,000 shares, a decrease of 25.5% from the August 15th total of 7,030,000 shares. Approximately 9.1% of the company’s stock are short sold. Based on an average daily volume of 2,910,000 shares, the short-interest ratio is currently 1.8 days.

A number of large investors have recently made changes to their positions in the business. Federated Hermes Inc. grew its holdings in shares of Seres Therapeutics by 160.0% in the 1st quarter. Federated Hermes Inc. now owns 1,028,800 shares of the biotechnology company’s stock worth $3,673,000 after purchasing an additional 633,135 shares during the last quarter. JPMorgan Chase & Co. grew its position in Seres Therapeutics by 93.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,045,655 shares of the biotechnology company’s stock worth $3,734,000 after acquiring an additional 503,770 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Seres Therapeutics by 120.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 366,409 shares of the biotechnology company’s stock valued at $1,744,000 after purchasing an additional 199,836 shares in the last quarter. California Public Employees Retirement System boosted its stake in Seres Therapeutics by 270.2% in the second quarter. California Public Employees Retirement System now owns 97,368 shares of the biotechnology company’s stock worth $463,000 after purchasing an additional 71,068 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Seres Therapeutics during the second quarter worth $318,000. Hedge funds and other institutional investors own 94.42% of the company’s stock.

Shares of NASDAQ MCRB traded up $0.01 during trading hours on Wednesday, hitting $27.33. 831,400 shares of the company’s stock were exchanged, compared to its average volume of 1,274,905. Seres Therapeutics has a 1-year low of $2.52 and a 1-year high of $33.00. The company’s 50-day moving average price is $18.90 and its 200-day moving average price is $7.86. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -26.31 and a beta of 4.50.

Seres Therapeutics (NASDAQ:MCRB) last posted its quarterly earnings results on Tuesday, July 28th. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.02). The company had revenue of $6.05 million for the quarter, compared to analysts’ expectations of $9.67 million. On average, research analysts predict that Seres Therapeutics will post -1.06 earnings per share for the current year.

Several brokerages recently issued reports on MCRB. Jefferies Financial Group raised Seres Therapeutics from a “hold” rating to a “buy” rating and increased their price objective for the stock from $4.00 to $29.00 in a research note on Tuesday, August 11th. Chardan Capital boosted their price objective on shares of Seres Therapeutics from $12.50 to $32.50 and gave the company a “buy” rating in a research report on Monday, August 10th. Piper Sandler began coverage on shares of Seres Therapeutics in a research note on Tuesday, August 18th. They set an “overweight” rating and a $40.00 target price for the company. BidaskClub downgraded shares of Seres Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, July 18th. Finally, ValuEngine upgraded Seres Therapeutics from a “hold” rating to a “buy” rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. Seres Therapeutics presently has a consensus rating of “Buy” and an average target price of $30.64.

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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