Senomyx Inc. (NASDAQ:SNMX)’s share price shot up 4.2% during trading on Tuesday . The company traded as high as $3.37 and last traded at $3.26, with a volume of 165,911 shares traded. The stock had previously closed at $3.13.

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

The stock has a 50-day moving average price of $2.77 and a 200 day moving average price of $2.82. The firm’s market cap is $157.12 million.

Senomyx (NASDAQ:SNMX) last announced its earnings results on Thursday, July 28th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.01. The company had revenue of $6.60 million for the quarter, compared to analyst estimates of $6.20 million. Senomyx’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.06) earnings per share. Equities analysts expect that Senomyx Inc. will post ($0.25) EPS for the current fiscal year.

An institutional investor recently raised its position in Senomyx stock. Turner Investments L.P. raised its stake in shares of Senomyx Inc. (NASDAQ:SNMX) by 10.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

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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