Senomyx Inc. (NASDAQ:SNMX)’s share price fell 2.8% during mid-day trading on Wednesday . The company traded as low as $3.28 and last traded at $3.41, with a volume of 206,677 shares traded. The stock had previously closed at $3.51.

Separately, Zacks Investment Research raised Senomyx from a “hold” rating to a “strong-buy” rating and set a $4.00 target price for the company in a research note on Wednesday.

The stock’s market capitalization is $144.58 million. The firm’s 50-day moving average is $2.78 and its 200-day moving average is $2.82.

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

An institutional investor recently raised its position in Senomyx stock. Turner Investments L.P. boosted its position in Senomyx Inc. (NASDAQ:SNMX) by 10.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 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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