Analysts were already Bullish on MCRB, which now sports a 508.1% lead for the year. Four out of five analysts in coverage sport a “strong buy”, with one sticking to a loud “hold” rating. Meanwhile, the 12-month consensus price target of $ 8.08 is currently at a 61.2% discount to current levels.
Short sellers have meanwhile been firmly in control. Short-term interest rates climbed 9.4% in the last two reporting periods, and now the 7.67 million shares sold short account for 17.7% of the available fleet of the stock. In other words, it would take almost twelve days to cover the average pace of trading in Seres Therapeutics. When some of this pessimism starts to subside, it can put some extra wind on the back of the equity.
Over in the options peak, traders were fast on the clock, with 28,000 calls and 49,000 records to date across the band – 21 times the intraday average, with volumes running at the top percentage of their annual range. Most popular are the well of August 7.50, and the call of October 5, with positions opening at the former.
Despite the small volume, the current advantage for putts is a bit of a change compared to recent activity. In the last 10 days, 5,547 calls and 4,930 putts were exchanged, equivalent to a call / put volume ratio of 1.13 at the at the Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX).
