Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in Seres Therapeutics, Inc. (NASDAQ:MCRB – Get Rating) by 69.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,006 shares of the biotechnology company's stock after selling 123,069 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.06% of Seres Therapeutics worth $182,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of MCRB. Federated Hermes Inc. increased its holdings in shares of Seres Therapeutics by 15.9% in the 1st quarter. Federated Hermes Inc. now owns 8,010,806 shares of the biotechnology company's stock valued at $57,037,000 after acquiring an additional 1,096,670 shares during the period. Dimensional Fund Advisors LP acquired a new position in shares of Seres Therapeutics in the 1st quarter valued at $3,334,000. Vanguard Group Inc. increased its holdings in shares of Seres Therapeutics by 8.4% in the 1st quarter. Vanguard Group Inc. now owns 5,066,930 shares of the biotechnology company's stock valued at $36,076,000 after acquiring an additional 390,665 shares during the period. JPMorgan Chase & Co. increased its stake in Seres Therapeutics by 296.1% in the 1st quarter. JPMorgan Chase & Co. now owns 142,065 shares of the biotechnology company's stock valued at $1,011,000 after buying an additional 106,201 shares during the period. Finally, Bank of America Corp DE increased its stake in Seres Therapeutics by 81.3% in the 1st quarter. Bank of America Corp DE now owns 223,401 shares of the biotechnology company's stock valued at $1,591,000 after buying an additional 100,193 shares during the period. 96.09% of the stock is owned by institutional investors and hedge funds.
Get Seres Therapeutics alerts:Insider Transactions at Seres Therapeutics
In other news, insider David S. Ege sold 5,012 shares of the company's stock in a transaction on Monday, October 31st. The shares were sold at an average price of $7.93, for a total transaction of $39,745.16. Following the transaction, the insider now directly owns 46,734 shares of the company's stock, valued at approximately $370,600.62. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.20% of the company's stock.
Seres Therapeutics Stock Performance
NASDAQ:MCRB opened at $7.17 on Friday. The company has a quick ratio of 3.03, a current ratio of 3.03 and a debt-to-equity ratio of 0.75. Seres Therapeutics, Inc. has a fifty-two week low of $2.50 and a fifty-two week high of $11.69. The stock has a market cap of $893.31 million, a PE ratio of -3.05 and a beta of 2.81. The firm's fifty day simple moving average is $6.84 and its 200-day simple moving average is $5.02.Seres Therapeutics (NASDAQ:MCRB – Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The biotechnology company reported ($0.49) earnings per share for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.04). Seres Therapeutics had a negative return on equity of 305.32% and a negative net margin of 1,729.94%. The company had revenue of $3.44 million for the quarter, compared to analyst estimates of $12.29 million. Analysts expect that Seres Therapeutics, Inc. will post -2.15 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages have issued reports on MCRB. Chardan Capital dropped their price objective on shares of Seres Therapeutics from $16.00 to $12.00 in a research note on Thursday, August 4th. Piper Sandler boosted their price objective on shares of Seres Therapeutics from $7.00 to $9.00 and gave the company an "overweight" rating in a research note on Wednesday, September 7th. Finally, StockNews.com cut shares of Seres Therapeutics from a "hold" rating to a "sell" rating in a research note on Sunday, November 6th.
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).
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