The stock of Seres Therapeutics, Inc. (NASDAQ:MCRB) is now priced at $26.49 and the shares are 2.01 points up or 8.21% higher compared to its previous closing price of $24.48. The stock had 1.553 million contracts set over the past session. MCRB shares’ daily volume is compared to its average trading volume at 2.884 million shares. However, it has a float of 50.71 million and although its performance was 15.12% over the week, it’s one to watch. Analysts have given the MCRB stock a yearly average price target of $30.93 per share. It means the stock’s upside potential is 16.76% with the MCRB share price recently placing at $25.1747 to $27.23. However, some brokerage firms have priced the stock below the average, including one that has called $24.
The shorts are running away from the Seres Therapeutics, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the MCRB shares have declined. Short interest in the stock represents just 13.86% of its float, but the volume has dropped by -1886991. The volume of shorted shares dropped to 7.031 million from 8.918 million shares over the last two weeks. The average intraday trading volume has been 13.331 million shares, which means that days to cover moved to roughly 1.
In the last trading session, Seres Therapeutics, Inc. (NASDAQ:MCRB) raised by $3.48 over the week and gained $22.4 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 951.19%, 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 3.99. 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 72.57. 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 49.84% meaning the MCRB share price is currently in neutral territory.
The technical chart shows that the MCRB stock will likely settle at between $27.42 and $28.35 per share. However, if the stock dips below $25.37, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $24.24.
Currently, the stock is trading in the green of MACD, with a reading of 0.5. 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 Overweight in their intiating review released on August 18. Jefferies analysts upgraded their recommendation of the stock from Hold to Buy while keeping its target price at $4 to $29 in a flash note released to investors on August 11. H.C. Wainwright analysts see the stock as Buy. Nonetheless, the analysts revised the share prices down on August 11, placing it at $41 from $8.
The average rating for the MCRB equity is 2 and is currently gathering a bullish momentum. Of 8 analysts tracking Seres Therapeutics, Inc. polled by Reuters, 1 rated MCRB 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.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Seres Therapeutics, Inc. (NASDAQ:MCRB) will decrease by about -99.88%, which will see them reach $7.26 million. The company’s full-year revenues are, however, expected to diminish by about -15.88%, down from $34.51 million to $29.03 million. MCRB’s expected adjusted earnings should surge almost 13.04% to end up at -$0.26 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -21.77% to record -$0.97/share.