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Shares of Solazyme (NASDAQ:SZYM) dropped 3.6% during mid-day trading on Thursday after an insider sold shares in the company, reports. The company traded as low as $9.12 and last traded at $9.15, with a volume of 483,846 shares. The stock had previously closed at $9.49.

Specifically, General Counsel Paul T. Quinlan sold 8,500 shares of the stock on the open market in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $9.43, for a total value of $80,155.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Solazyme in a research note on Friday, May 30th. They now have a $15.00 price target on the stock. One research analyst has rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Solazyme presently has an average rating of “Buy” and an average target price of $15.00.

The stock has a 50-day moving average of $9.8 and a 200-day moving average of $11.00. The company’s market cap is $723.2 million.

Solazyme (NASDAQ:SZYM) last posted its quarterly earnings results on Wednesday, July 30th. The company reported ($0.43) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.36) by $0.07. The company had revenue of $15.94 million for the quarter, compared to the consensus estimate of $17.13 million. During the same quarter last year, the company posted ($0.28) earnings per share. Solazyme’s revenue was up 42.6% compared to the same quarter last year. On average, analysts predict that Solazyme will post $-1.71 earnings per share for the current fiscal year.

Solazyme, Inc operates as a renewable oil production company. The Company fuels include microbial-derived jet fuels, bio-diesels, and renewable diesels.

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