Canaccord Genuity Reiterates “Buy” Rating for Selecta Biosciences (NASDAQ:SELB)

Canaccord Genuity reiterated their buy rating on shares of Selecta Biosciences (NASDAQ:SELB) in a research report released on Wednesday, January 3rd.

“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.”,” Canaccord Genuity’s analyst wrote.

A number of other research firms have also weighed in on SELB. Zacks Investment Research upgraded shares of Selecta Biosciences from a sell rating to a hold rating in a research note on Thursday, October 12th. ValuEngine lowered shares of Selecta Biosciences from a hold rating to a sell rating in a research note on Tuesday, September 26th. Finally, UBS Group lowered shares of Selecta Biosciences from a buy rating to a neutral rating in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $23.50.

Shares of Selecta Biosciences (SELB) opened at $8.94 on Wednesday. The firm has a market cap of $197.34 and a PE ratio of -2.88. The company has a debt-to-equity ratio of 0.32, a quick ratio of 9.48 and a current ratio of 9.48. Selecta Biosciences has a 12 month low of $8.40 and a 12 month high of $24.02.

Selecta Biosciences (NASDAQ:SELB) last released its quarterly earnings data on Tuesday, November 7th. The company reported ($0.66) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.88) by $0.22. Selecta Biosciences had a negative net margin of 1,918.59% and a negative return on equity of 100.06%. equities research analysts predict that Selecta Biosciences will post -2.25 earnings per share for the current year.

In related news, insider Earl Sands purchased 7,500 shares of Selecta Biosciences stock in a transaction dated Friday, November 17th. The stock was purchased at an average cost of $10.26 per share, for a total transaction of $76,950.00. Following the completion of the purchase, the insider now directly owns 7,500 shares of the company’s stock, valued at approximately $76,950. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Timothy A. Springer purchased 57,598 shares of Selecta Biosciences stock in a transaction dated Tuesday, November 14th. The stock was bought at an average price of $9.27 per share, with a total value of $533,933.46. Following the completion of the purchase, the director now directly owns 461,349 shares of the company’s stock, valued at $4,276,705.23. The disclosure for this purchase can be found here. Insiders bought 90,098 shares of company stock valued at $843,933 over the last quarter. Company insiders own 41.90% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Wasatch Advisors Inc. grew its stake in shares of Selecta Biosciences by 100.6% in the fourth quarter. Wasatch Advisors Inc. now owns 246,618 shares of the company’s stock worth $2,419,000 after acquiring an additional 123,695 shares during the period. Perceptive Advisors LLC boosted its holdings in shares of Selecta Biosciences by 45.8% in the third quarter. Perceptive Advisors LLC now owns 1,162,325 shares of the company’s stock worth $21,212,000 after buying an additional 365,000 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Selecta Biosciences by 50.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 29,600 shares of the company’s stock worth $541,000 after buying an additional 9,900 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Selecta Biosciences by 1.8% in the third quarter. JPMorgan Chase & Co. now owns 365,138 shares of the company’s stock worth $7,131,000 after buying an additional 6,292 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Selecta Biosciences by 26.6% in the third quarter. Bank of New York Mellon Corp now owns 41,020 shares of the company’s stock worth $748,000 after buying an additional 8,620 shares during the last quarter. Hedge funds and other institutional investors own 54.44% of the company’s stock.

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Selecta Biosciences Company Profile

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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