The stock of Selecta Biosciences, Inc. (NASDAQ:SELB) is now priced at $2.6 and the shares are -0.02 points down or -0.76% lower compared to its previous closing price of $2.62. The stock had 1.12 million contracts set over the past session. SELB shares’ daily volume is compared to its average trading volume at 2.459 million shares. However, it has a float of 87.31 million and although its performance was 11.59% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the SELB share price recently placing at $2.51 to $2.67. However, some brokerage firms have priced the stock below the average, including one that has called $4.
The shorts are running away from the Selecta Biosciences, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the SELB shares have declined. Short interest in the stock represents just 10.51% of its float, but the volume has dropped by -201290. The volume of shorted shares dropped to 9.176 million from 9.377 million shares over the last two weeks. The average intraday trading volume has been 1.017 million shares, which means that days to cover moved to roughly 9.02487.
In the last trading session, Selecta Biosciences, Inc. (NASDAQ:SELB) raised by $0.27 over the week and lost -$0.04 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $4.83. The stock recorded its established 52-week high on 02/10/20.
Since 10/23/19, the stock has traded to a low of $1.28 at 103.12%, 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 1.28. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Selecta Biosciences, Inc.’s two-week RSI is 50.78. This suggests that the stock is neutral at the moment and that SELB shares’ price movement remains stable. The stochastic readings are equally revealing at 58.91% meaning the SELB share price is currently in neutral territory.
The technical chart shows that the SELB stock will likely settle at between $2.68 and $2.75 per share. However, if the stock dips below $2.52, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $2.43.
Currently, the stock is trading in the green of MACD, with a reading of 0.08. 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 Stifel cut their recommendation for SELB from Buy to Hold in June 12 review. H.C. Wainwright analysts see the stock as a Buy with a target price of $8 in a flash note released to investors on April 28 initiating covering the stock. Cantor Fitzgerald analysts see the stock as Overweight when the analysts initiated the share price coverage on January 29, placing it at $10.
The average rating for the SELB equity is 1.75 and is currently gathering a bullish momentum. Of 8 analysts tracking Selecta Biosciences, Inc. polled by Reuters, 1 rated SELB as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (7) 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.