Senomyx Inc. (NASDAQ:SNMX) shares traded down 1.6% on Tuesday . The stock traded as low as $2.41 and last traded at $2.48, with a volume of 107,450 shares trading hands. The stock had previously closed at $2.52.

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

The company’s 50 day moving average is $2.96 and its 200-day moving average is $2.91. The firm’s market capitalization is $110.11 million.

Senomyx (NASDAQ:SNMX) last released its quarterly earnings results on Thursday, April 28th. The company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.03. The business earned $6.30 million during the quarter, compared to analyst estimates of $5.78 million. The company’s revenue was up 26.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.11) EPS. Equities 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. increased its stake in shares of 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 (SEC). The fund 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 reporting period.

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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