Senomyx Inc. (NASDAQ:SNMX)’s share price fell 2.4% during trading on Monday . The company traded as low as $2.36 and last traded at $2.41, with a volume of 78,843 shares. The stock had previously closed at $2.47.

Separately, Zacks Investment Research cut Senomyx from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th.

The stock has a 50 day moving average price of $2.93 and a 200 day moving average price of $2.87. The firm’s market capitalization is $106.53 million.

Senomyx (NASDAQ:SNMX) last released its quarterly earnings results on Thursday, April 28th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. During the same period in the previous year, the company posted ($0.11) EPS. The business earned $6.30 million during the quarter, compared to analyst estimates of $5.78 million. The business’s revenue for the quarter was up 26.0% compared to the same quarter last year. On average, equities research analysts anticipate that Senomyx Inc. will post ($0.25) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Senomyx stock. Turner Investments L.P. raised its position in Senomyx Inc. (NASDAQ:SNMX) by 10.6% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 345,000 shares of the company’s stock after buying an additional 33,000 shares during the period. Turner Investments L.P. owned approximately 0.78% of Senomyx worth $1,301,000 at the end of the most recent quarter.

Senomyx, Inc is focused on using taste receptor technologies to discover, develop and commercialize flavor ingredients for the packaged food, beverage and ingredient supply industries. The Company operates through development and commercialization of flavor ingredients segment. It is engaged in the discovery, development and/or commercialization of flavor ingredients through over five programs.

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