Canaccord Genuity Sticks to Its Buy Rating for Selecta Biosciences (SELB)

By Carrie Williams

Canaccord Genuity analyst John Newman maintained a Buy rating on Selecta Biosciences (SELBResearch Report) yesterday and set a price target of $13.00. The company’s shares closed last Wednesday at $3.16.

According to TipRanks.com, Newman is a 5-star analyst with an average return of 24.3% and a 47.9% success rate. Newman covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Allogene Therapeutics, and Atara Biotherapeutics.

Selecta Biosciences has an analyst consensus of Moderate Buy, with a price target consensus of $5.40, an 84.3% upside from current levels. In a report released yesterday, Needham also assigned a Buy rating to the stock with a $3.50 price target.

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The company has a one-year high of $4.83 and a one-year low of $1.42. Currently, Selecta Biosciences has an average volume of 2.81M.

Based on the recent corporate insider activity of 16 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SELB in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Selecta Biosciences, Inc. operates as a clinical-stage biopharmaceutical company, which engages in the research and development of nanoparticle immunomodulatory drugs for the treatment and prevention of human diseases. it produces the Synthetic Vaccine Particles (SVP) platform for immune tolerance and immune stimulation. The firm proprietary pipeline includes SVP-enabled enzyme, oncology and gene therapies. The company was founded by Omid C. Farokhzad, Robert S. Langer Jr., and Ulrich von Andrian in 2007 and is headquartered in Watertown, MA.