Piper Jaffray Companies Analysts Give Arcadia Biosciences (RKDA) a $20.00 Price Target

Arcadia Biosciences (NASDAQ:RKDA) received a $20.00 price objective from equities researchers at Piper Jaffray Companies in a research report issued on Wednesday. The firm currently has a “hold” rating on the basic materials company’s stock. Piper Jaffray Companies’ target price suggests a potential downside of 58.32% from the company’s current price.

Shares of Arcadia Biosciences (NASDAQ RKDA) traded up $36.32 during trading hours on Wednesday, hitting $47.99. The company’s stock had a trading volume of 13,860,000 shares, compared to its average volume of 248,985. Arcadia Biosciences has a 12 month low of $3.60 and a 12 month high of $54.99. The firm has a market capitalization of $102.42 and a PE ratio of -5.67.

A hedge fund recently raised its stake in Arcadia Biosciences stock. Renaissance Technologies LLC lifted its holdings in Arcadia Biosciences Inc (NASDAQ:RKDA) by 294.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 552,600 shares of the basic materials company’s stock after purchasing an additional 412,400 shares during the period. Renaissance Technologies LLC owned 25.94% of Arcadia Biosciences worth $152,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 36.07% of the company’s stock.

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About Arcadia Biosciences

Arcadia Biosciences, Inc is an agricultural biotechnology trait company. The Company develops a portfolio of yield and traits addressing multiple crops that supply the global food and feed markets. It has a pipeline of products in development incorporating its traits, including products that are in advanced stages of development or on the market.

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