Selecta Biosciences (SELB) Stock Rating Reaffirmed by Canaccord Genuity

Selecta Biosciences (NASDAQ:SELB)‘s stock had its “buy” rating restated by analysts at Canaccord Genuity in a research note issued to investors on Wednesday.

The analysts wrote, “Werner Cautreets is set to retire by December 31 st , 2018, with Dr. Omid Farokhzd becoming chairman of the board, and a new CEO to be identified. Importantly, Dr. Cautreets is expected to remain a member of the board after retirement, signaling a mutually agreed transition for the CEO position. We do not believe the CEO change is related to any clinical data for SEL-212 or other programs, and continue to expect positive data for SEL-212 in Phase 3. Maintain positive outlook on Phase 3 SEL-212 combination dosing trial We continue to expect positive Phase 3 readout for SEL-212, with trial initiation 2H18. We expect SELB to dose SVP + pegsiticase at all time points during the trial, which should eliminate any waning effects when pegsiticase is given alone following initial combination dosing. The Phase 2 data so far showed excellent serum uric acid (SUA) lowering when pegsiticase is dosed in combination with SVP, as well as clean safety.””

SELB has been the subject of several other reports. UBS Group lowered shares of Selecta Biosciences from a “buy” rating to a “neutral” rating in a report on Thursday, November 9th. Zacks Investment Research raised shares of Selecta Biosciences from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. Finally, ValuEngine lowered shares of Selecta Biosciences from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $23.50.

Selecta Biosciences (NASDAQ:SELB) opened at $10.24 on Wednesday. The firm has a market cap of $219.12, a price-to-earnings ratio of -3.30 and a beta of -7.16. The company has a current ratio of 9.48, a quick ratio of 9.48 and a debt-to-equity ratio of 0.32. Selecta Biosciences has a fifty-two week low of $8.70 and a fifty-two week high of $24.02.

In other Selecta Biosciences news, insider Earl Sands purchased 7,500 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was acquired at an average cost of $10.26 per share, with a total value of $76,950.00. Following the acquisition, the insider now owns 7,500 shares of the company’s stock, valued at approximately $76,950. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy C. Barabe purchased 5,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was acquired at an average cost of $9.37 per share, with a total value of $46,850.00. Following the completion of the acquisition, the director now directly owns 4,992 shares in the company, valued at approximately $46,775.04. The disclosure for this purchase can be found here. Insiders bought a total of 90,098 shares of company stock valued at $843,933 over the last ninety days. Company insiders own 41.90% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. acquired a new position in Selecta Biosciences during the 2nd quarter valued at about $392,000. Rhumbline Advisers acquired a new position in Selecta Biosciences during the 2nd quarter valued at about $239,000. Bank of New York Mellon Corp boosted its stake in Selecta Biosciences by 119.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 32,400 shares of the company’s stock valued at $644,000 after purchasing an additional 17,664 shares during the period. JPMorgan Chase & Co. boosted its stake in Selecta Biosciences by 46.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 358,846 shares of the company’s stock valued at $7,126,000 after purchasing an additional 114,477 shares during the period. Finally, Teachers Advisors LLC boosted its stake in Selecta Biosciences by 294.2% during the 2nd quarter. Teachers Advisors LLC now owns 21,292 shares of the company’s stock valued at $423,000 after purchasing an additional 15,890 shares during the period. 54.44% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: This news story was posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this news story on another publication, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The legal version of this news story can be accessed at https://www.chaffeybreeze.com/2018/01/03/selecta-biosciences-selb-stock-rating-reaffirmed-by-canaccord-genuity.html.

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.

Receive News & Ratings for Selecta Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Selecta Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply