Selecta Biosciences Inc (NASDAQ:SELB) Sees Large Drop in Short Interest

Selecta Biosciences Inc (NASDAQ:SELB) saw a large drop in short interest in January. As of January 15th, there was short interest totalling 547,900 shares, a drop of 32.9% from the December 31st total of 816,000 shares. Based on an average trading volume of 393,300 shares, the days-to-cover ratio is currently 1.4 days. Approximately 2.4% of the shares of the stock are short sold.

Several brokerages recently issued reports on SELB. Stifel Nicolaus reaffirmed a “buy” rating on shares of Selecta Biosciences in a research report on Thursday, December 19th. ValuEngine lowered Selecta Biosciences from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 16th. Mizuho reaffirmed a “buy” rating and set a $4.00 target price on shares of Selecta Biosciences in a research report on Thursday, December 19th. Zacks Investment Research lowered Selecta Biosciences from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. Finally, William Blair began coverage on Selecta Biosciences in a research report on Tuesday, January 21st. They set an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Selecta Biosciences presently has an average rating of “Buy” and a consensus price target of $6.80.

NASDAQ:SELB traded down $0.11 during trading hours on Friday, hitting $3.08. 546,983 shares of the company were exchanged, compared to its average volume of 442,541. The stock has a market capitalization of $153.75 million, a price-to-earnings ratio of -1.94 and a beta of 1.34. Selecta Biosciences has a one year low of $1.28 and a one year high of $3.66. The company has a fifty day simple moving average of $2.40 and a 200 day simple moving average of $1.85.

Selecta Biosciences (NASDAQ:SELB) last announced its earnings results on Wednesday, November 13th. The company reported ($0.26) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.02. On average, research analysts anticipate that Selecta Biosciences will post -1.03 EPS for the current year.

Several hedge funds have recently bought and sold shares of SELB. A.R.T. Advisors LLC bought a new position in shares of Selecta Biosciences in the 2nd quarter worth about $40,000. Morgan Stanley raised its position in shares of Selecta Biosciences by 582.4% in the 2nd quarter. Morgan Stanley now owns 63,784 shares of the company’s stock worth $114,000 after acquiring an additional 54,437 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Selecta Biosciences in the 2nd quarter worth about $195,000. Paloma Partners Management Co bought a new position in shares of Selecta Biosciences in the 2nd quarter worth about $275,000. Finally, Millennium Management LLC raised its position in shares of Selecta Biosciences by 164.9% in the 3rd quarter. Millennium Management LLC now owns 263,025 shares of the company’s stock worth $460,000 after acquiring an additional 668,225 shares in the last quarter. 39.55% of the stock is owned by hedge funds and other institutional investors.

About Selecta Biosciences

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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