Seres Therapeutics Inc (NASDAQ: MCRB) stock fell -31.68% on Monday to $0.97 against a previous-day closing price of $1.42. With 13.4 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.19 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $1.4150 whereas the lowest price it dropped to was $0.9656. The 52-week range on MCRB shows that it touched its highest point at $7.30 and its lowest point at $0.91 during that stretch. It currently has a 1-year price target of $9.25. Beta for the stock currently stands at 2.63.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MCRB was down-trending over the past week, with a drop of -9.34%, but this was down by -31.68% over a month. Three-month performance dropped to -72.83% while six-month performance fell -80.28%. The stock lost -85.48% in the past year, while it has lost -82.68% so far this year. A look at the trailing 12-month EPS for MCRB yields -1.13 with Next year EPS estimates of -1.32. For the next quarter, that number is -0.49. This implies an EPS growth rate of 57.39% for this year and -33.94% for next year.
Float and Shares Shorts:
At present, 125.22 million MCRB shares are outstanding with a float of 97.19 million shares on hand for trading. On Oct 30, 2023, short shares totaled 23.1 million, which was 17.88% higher than short shares on Sep 28, 2023. In addition to Mr. Eric D. Shaff M.B.A. as the firm’s President, CEO & Director, Mr. David A. Arkowitz M.B.A. serves as its Executive VP, CFO & Head of Business Development.
Through their ownership of 80.44% of MCRB’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 40.27% of MCRB, in contrast to 25.51% held by mutual funds. Shares owned by individuals account for 17.91%. As the largest shareholder in MCRB with 15.00% of the stake, Fidelity Management & Research Co holds 19,230,692 shares worth 19,230,692. A second-largest stockholder of MCRB, SSgA Funds Management, Inc., holds 9,535,890 shares, controlling over 7.44% of the firm’s shares. Federated Global Investment Manag is the third largest shareholder in MCRB, holding 8,981,717 shares or 7.01% stake. With a 6.83% stake in MCRB, the Federated Hermes Kaufmann Fund is the largest stakeholder. A total of 8,756,283 shares are owned by the mutual fund manager. The SPDR S&P Biotech ETF, which owns about 6.33% of MCRB stock, is the second-largest Mutual Fund holder. It holds 8,114,602 shares valued at 12.42 million. Fidelity Growth Company Fund holds 4.58% of the stake in MCRB, owning 5,864,905 shares worth 8.97 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MCRB since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With MCRB analysts setting a high price target of $15.00 and a low target of $1.25, the average target price over the next 12 months is $9.25. Based on these targets, MCRB could surge 1446.39% to reach the target high and rise by 28.87% to reach the target low. Reaching the average price target will result in a growth of 853.61% from current levels.
Summary of Insider Activity:
Insiders traded MCRB stock several times over the past three months with 8 Buys and 8 Sells. In these transactions, 113,056 shares were bought while 34,769 shares were sold. The number of buy transactions has increased to 10 while that of sell transactions has risen to 9 over the past year. The total number of shares bought during that period was 175,556 while 41,807 shares were sold.