Selecta Biosciences (SELB) Stock Price Down 5.5%

Shares of Selecta Biosciences Inc (NASDAQ:SELB) dropped 5.5% during mid-day trading on Monday . The stock traded as low as $2.43 and last traded at $2.56. Approximately 517,107 shares changed hands during trading, a decline of 20% from the average daily volume of 647,324 shares. The stock had previously closed at $2.71.

SELB has been the subject of several analyst reports. Canaccord Genuity cut their price target on shares of Selecta Biosciences from $25.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 18th. Zacks Investment Research lowered shares of Selecta Biosciences from a “buy” rating to a “hold” rating in a report on Thursday, January 10th. Needham & Company LLC dropped their target price on shares of Selecta Biosciences to $12.00 and set a “buy” rating for the company in a report on Monday, January 28th. Stifel Nicolaus reiterated a “buy” rating and set a $7.00 target price on shares of Selecta Biosciences in a report on Friday, March 15th. Finally, Mizuho dropped their target price on shares of Selecta Biosciences to $4.00 and set a “buy” rating for the company in a report on Monday, February 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Selecta Biosciences presently has an average rating of “Hold” and a consensus price target of $11.61.

The company has a market cap of $121.22 million, a price-to-earnings ratio of -0.88 and a beta of 1.60.

Selecta Biosciences (NASDAQ:SELB) last announced its earnings results on Friday, March 15th. The company reported ($0.65) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.75) by $0.10. The business had revenue of $0.90 million for the quarter. Equities research analysts predict that Selecta Biosciences Inc will post -1.47 EPS for the current year.

In other news, Director Amir Nashat purchased 1,166,666 shares of Selecta Biosciences stock in a transaction that occurred on Friday, January 25th. The stock was bought at an average price of $1.50 per share, with a total value of $1,749,999.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 25.20% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of SELB. Fosun International Ltd purchased a new position in shares of Selecta Biosciences during the 4th quarter worth $531,000. Man Group plc raised its position in shares of Selecta Biosciences by 139.1% during the 3rd quarter. Man Group plc now owns 257,315 shares of the company’s stock valued at $4,001,000 after purchasing an additional 149,685 shares during the period. Two Sigma Investments LP raised its position in shares of Selecta Biosciences by 87.8% during the 4th quarter. Two Sigma Investments LP now owns 200,498 shares of the company’s stock valued at $533,000 after purchasing an additional 93,719 shares during the period. Deutsche Bank AG raised its position in shares of Selecta Biosciences by 251.6% during the 4th quarter. Deutsche Bank AG now owns 127,121 shares of the company’s stock valued at $337,000 after purchasing an additional 90,970 shares during the period. Finally, FMR LLC raised its position in shares of Selecta Biosciences by 23.5% during the 4th quarter. FMR LLC now owns 345,046 shares of the company’s stock valued at $918,000 after purchasing an additional 65,623 shares during the period. Institutional investors own 23.47% of the company’s stock.

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About Selecta Biosciences (NASDAQ:SELB)

Selecta Biosciences, Inc, a clinical-stage biopharmaceutical company, researches and develops nanoparticle immunomodulatory drugs for the treatment and prevention of human diseases. Its proprietary pipeline includes therapeutic enzymes, gene therapies, and other products and product candidates affected by undesired immune responses.

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