The stock of Seres Therapeutics, Inc. (NASDAQ:MCRB) is now priced at $22.7 and the shares are 18.06 points up or 389.22% higher compared to its previous closing price of $4.64. The stock had 95.41 million contracts set over the past session. MCRB shares’ daily volume is compared to its average trading volume at 2.197 million shares. However, it has a float of 69.09 million and although its performance was 455.01% over the week, it’s one to watch. Analysts have given the MCRB stock a yearly average price target of $8.08 per share. It means the stock’s downside potential is -64.41% with the MCRB share price recently placing at $18 to $33.
The shorts are climbing into the Seres Therapeutics, Inc. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the MCRB shares have risen. Short interest in the stock represents just 11.11% of its float, but the volume has raised by 234319. The volume of shorted shares rised to 7.674 million from 7.44 million shares over the last two weeks. The average intraday trading volume has been 1.011 million shares, which means that days to cover moved to roughly 7.593035.
In the last trading session, Seres Therapeutics, Inc. (NASDAQ:MCRB) raised by $18.61 over the week and gained $18.52 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $33. The stock recorded its established 52-week high on 08/10/20.
Since 03/12/20, the stock has traded to a low of $2.52 at 808%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.17. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Seres Therapeutics, Inc.’s two-week RSI is 94.52. This suggests that the stock is oversold at the moment and that MCRB shares’ price movement remains not stable. The stochastic readings are equally revealing at 67.29% meaning the MCRB share price is currently in neutral territory.
The technical chart shows that the MCRB stock will likely settle at between $31.13 and $39.57 per share. However, if the stock dips below $16.13, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $9.57.
Currently, the stock is trading in the green of MACD, with a reading of 4.37. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned MCRB a rating of Hold in their intiating review released on April 30. Chardan Capital Markets analysts see the stock as a Buy with a target price of $15 in a flash note released to investors on October 22 initiating covering the stock. Oppenheimer analysts see the stock as Outperform when the analysts initiated the share price coverage on October 13, placing it at $19.
The average rating for the MCRB equity is 2 and is currently gathering a bullish momentum. Of 7 analysts tracking Seres Therapeutics, Inc. polled by Reuters, 1 rated MCRB as a hold. The remaining 6 analysts were split evenly. However, the split wasn’t equal as a majority (6) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Seres Therapeutics, Inc. (NASDAQ:MCRB) will decrease by about -99.87%, which will see them reach $7.67 million. The company’s full-year revenues are, however, expected to diminish by about -11.76%, down from $34.51 million to $30.45 million. MCRB’s expected adjusted earnings should surge almost 4.35% to end up at -$0.24 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -29.84% to record -$0.87/share.