Seres Therapeutics (NASDAQ:MCRB) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Financial News Live · Nov 5, 2022 08:31

Seres Therapeutics (NASDAQ:MCRB – Get Rating) issued its earnings results on Wednesday. The biotechnology company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.04), reports. The firm had revenue of $3.44 million during the quarter, compared to analysts' expectations of $12.29 million. Seres Therapeutics had a negative net margin of 1,729.94% and a negative return on equity of 294.70%.

Seres Therapeutics Trading Down 9.5 %

Shares of NASDAQ MCRB opened at $8.14 on Friday. Seres Therapeutics has a 12-month low of $2.50 and a 12-month high of $11.69. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 2.20. The firm's 50-day moving average is $6.61 and its two-hundred day moving average is $4.95.

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Analysts Set New Price Targets

A number of analysts recently commented on the stock. Chardan Capital decreased their price objective on shares of Seres Therapeutics from $16.00 to $12.00 in a report on Thursday, August 4th. StockNews.com raised shares of Seres Therapeutics from a "sell" rating to a "hold" rating in a report on Saturday, October 29th. Finally, Piper Sandler boosted their price objective on shares of Seres Therapeutics from $7.00 to $9.00 and gave the stock an "overweight" rating in a report on Wednesday, September 7th.

Insider Buying and Selling at Seres Therapeutics

In other Seres Therapeutics news, insider David S. Ege sold 5,012 shares of the company's stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $7.93, for a total value of $39,745.16. Following the sale, the insider now owns 46,734 shares of the company's stock, valued at $370,600.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.20% of the company's stock.

Hedge Funds Weigh In On Seres Therapeutics

A number of institutional investors have recently modified their holdings of the company. FMR LLC raised its position in shares of Seres Therapeutics by 34.0% in the second quarter. FMR LLC now owns 18,601,212 shares of the biotechnology company's stock valued at $63,802,000 after buying an additional 4,723,347 shares during the last quarter. Federated Hermes Inc. increased its position in Seres Therapeutics by 124.5% during the second quarter. Federated Hermes Inc. now owns 17,982,256 shares of the biotechnology company's stock worth $61,679,000 after purchasing an additional 9,971,450 shares during the last quarter. BlackRock Inc. increased its position in Seres Therapeutics by 0.5% during the first quarter. BlackRock Inc. now owns 5,894,430 shares of the biotechnology company's stock worth $41,969,000 after purchasing an additional 31,739 shares during the last quarter. Vanguard Group Inc. increased its position in Seres Therapeutics by 8.4% during the first quarter. Vanguard Group Inc. now owns 5,066,930 shares of the biotechnology company's stock worth $36,076,000 after purchasing an additional 390,665 shares during the last quarter. Finally, State Street Corp increased its position in Seres Therapeutics by 1.3% during the first quarter. State Street Corp now owns 4,847,943 shares of the biotechnology company's stock worth $34,517,000 after purchasing an additional 62,354 shares during the last quarter. Institutional investors and hedge funds own 96.09% of the company's stock.

Seres Therapeutics Company Profile

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Seres Therapeutics, Inc, a microbiome therapeutics platform company, engages in developing bacterial consortia that are designed to functionally interact with host cells and tissues to treat disease. The company's lead product candidate is the SER-109, an oral microbiome therapeutic candidate that has completed Phase III clinical trial for the treatment of clostridium difficile infection (CDI).