Canaccord Genuity Group Reaffirms “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.

MCRB has been the topic of several other research reports. StockNews.com cut shares of Seres Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Chardan Capital reiterated a “buy” rating and issued a $1.25 price target on shares of Seres Therapeutics in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut shares of Seres Therapeutics from a “neutral” rating to an “underweight” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Seres Therapeutics has a consensus rating of “Hold” and an average target price of $5.08.

Seres Therapeutics Trading Down 7.2 %

Seres Therapeutics stock opened at $0.55 on Thursday. Seres Therapeutics has a one year low of $0.54 and a one year high of $2.05. The stock has a fifty day moving average of $0.85 and a 200 day moving average of $0.92.

Institutional Investors Weigh In On Seres Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Seres Therapeutics during the first quarter valued at approximately $39,000. Providence Wealth Advisors LLC lifted its stake in shares of Seres Therapeutics by 49.5% during the 2nd quarter. Providence Wealth Advisors LLC now owns 76,250 shares of the biotechnology company’s stock valued at $58,000 after buying an additional 25,250 shares in the last quarter. Point72 DIFC Ltd bought a new position in Seres Therapeutics in the 2nd quarter worth $64,000. Virtu Financial LLC purchased a new stake in Seres Therapeutics in the 1st quarter worth $73,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Seres Therapeutics during the second quarter valued at about $92,000. 59.34% of the stock is 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.