Selecta Biosciences, Inc. (NASDAQ:SELB) Posts Earnings Results, Beats Expectations By $0.01 EPS
Selecta Biosciences, Inc. (NASDAQ:SELB) posted its earnings results on Friday. The company reported ($0.85) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.86) by $0.01, Bloomberg Earnings reports. Selecta Biosciences had a negative net margin of 715.40% and a negative return on equity of 76.21%. The company had revenue of $0.03 million for the quarter.
Selecta Biosciences (NASDAQ:SELB) traded down 7.66% during midday trading on Friday, reaching $15.67. 109,680 shares of the company’s stock traded hands. The firm’s 50-day moving average is $18.29 and its 200 day moving average is $15.01. Selecta Biosciences has a 52-week low of $10.27 and a 52-week high of $28.00.
In other news, Director Timothy A. Springer bought 16,104 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were purchased at an average price of $14.00 per share, for a total transaction of $225,456.00. Following the completion of the purchase, the director now owns 11,244 shares in the company, valued at approximately $157,416. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO David Siewers sold 6,886 shares of the company’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $20.00, for a total transaction of $137,720.00. Following the completion of the transaction, the chief financial officer now owns 36 shares in the company, valued at approximately $720. The disclosure for this sale can be found here. In the last quarter, insiders bought 355,413 shares of company stock worth $6,232,567 and sold 321,819 shares worth $4,765,494.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Candriam Luxembourg S.C.A. purchased a new position in shares of Selecta Biosciences during the first quarter valued at about $444,000. Hikari Power Ltd purchased a new position in shares of Selecta Biosciences during the first quarter valued at about $349,000. Bank of New York Mellon Corp purchased a new position in shares of Selecta Biosciences during the first quarter valued at about $211,000. UBS Group AG increased its position in shares of Selecta Biosciences by 1,215.9% in the first quarter. UBS Group AG now owns 71,361 shares of the company’s stock valued at $1,022,000 after buying an additional 65,938 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Selecta Biosciences by 83.1% in the first quarter. Goldman Sachs Group Inc. now owns 31,588 shares of the company’s stock valued at $452,000 after buying an additional 14,332 shares in the last quarter. Hedge funds and other institutional investors own 46.27% of the company’s stock.
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A number of equities research analysts recently weighed in on the stock. Canaccord Genuity set a $25.00 target price on shares of Selecta Biosciences and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research upgraded shares of Selecta Biosciences from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, ValuEngine upgraded shares of Selecta Biosciences from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Selecta Biosciences currently has an average rating of “Buy” and a consensus price target of $26.00.
About Selecta Biosciences
Selecta Biosciences, Inc is a clinical-stage biopharmaceutical company. The Company using its synthetic vaccine particle (SVP) technology to discover and develop targeted therapies that are designed to modulate the immune system to treat rare and serious diseases. The Company is engaged in the research and development of nanoparticle immunomodulatory drugs for the treatment and prevention of human diseases.
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