Senomyx Trading Down 4.9% Following Insider Selling (SNMX)
Senomyx (NASDAQ:SNMX) traded down 4.9% during mid-day trading on Monday after an insider sold shares in the company, Analyst Ratings.Net reports. The company traded as low as $7.89 and last traded at $7.90, with a volume of 663,523 shares traded. The stock had previously closed at $8.31.
Specifically, CEO John Poyhonen unloaded 37,600 shares of Senomyx stock on the open market in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $8.00, for a total transaction of $300,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Lake Street Capital initiated coverage on shares of Senomyx in a research note on Monday. They set a “buy” rating and a $14.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Senomyx from an “underperform” rating to a “neutral” rating in a research note on Friday, May 2nd. They now have a $7.70 price target on the stock. Finally, analysts at Needham & Company LLC initiated coverage on shares of Senomyx in a research note on Friday, April 4th. They set a “buy” rating and a $16.00 price target on the stock.
The stock’s 50-day moving average is $7.52 and its 200-day moving average is $7.48. The company’s market cap is $335.9 million.
Senomyx (NASDAQ:SNMX) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.07) by $0.02. The company had revenue of $8.20 million for the quarter, compared to the consensus estimate of $7.60 million. During the same quarter last year, the company posted ($0.07) earnings per share. Senomyx’s revenue was up 9.3% compared to the same quarter last year. On average, analysts predict that Senomyx will post $-0.23 earnings per share for the current fiscal year.
Senomyx, Inc is focused on using taste receptor-based assays and screening technologies to discover and develop flavors, flavor enhancers and bitter blockers for the packaged food, beverage and ingredient supply industries.
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