Price Action Report: Is Buying Stock Like Senomyx Inc. After Such Gap Up a Winning Strategy?

Price Action Report: Is Buying Stock Like Senomyx Inc. After Such Gap Up a Winning Strategy?

The stock of Senomyx Inc. (NASDAQ:SNMX) gapped up by $0.01 today and has $6.86 target or 61.00% above today’s $4.26 share price. The 7 months technical chart setup indicates low risk for the $187.37 million company. The gap was reported on Oct, 1 by Barchart.com. If the $6.86 price target is reached, the company will be worth $114.30M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 7.85% or $0.31 during the last trading session, hitting $4.26. About 583,787 shares traded hands or 165.02% up from the average. Senomyx Inc. (NASDAQ:SNMX) has risen 28.31% since February 29, 2016 and is uptrending. It has outperformed by 17.89% the S&P500.

Analysts await Senomyx Inc. (NASDAQ:SNMX) to report earnings on November, 3. They expect $-0.06 EPS, down 20.00% or $0.01 from last year’s $-0.05 per share. After $-0.05 actual EPS reported by Senomyx Inc. for the previous quarter, Wall Street now forecasts 20.00% negative EPS growth.

According to Zacks Investment Research, “Senomyx is using proprietary taste receptor technologies to discover and develop novel flavor ingredients. These include new flavors such as Savory Flavors and Cooling Flavors, as well as flavor modulators such as Bitter Blockers and enhancers of Sweet and Salt tastes. Senomyx is also engaged in a new effort to discover and develop natural high-potency sweeteners. The Company has product discovery and development collaborations with global food, beverage, and ingredient supply companies, some of which are currently marketing products that contain Senomyx’s flavor ingredients.”

Insitutional Activity: The institutional sentiment decreased to 0.84 in Q2 2016. Its down 0.07, from 0.91 in 2016Q1. The ratio turned negative, as 18 funds sold all Senomyx Inc. shares owned while 20 reduced positions. 15 funds bought stakes while 17 increased positions. They now own 22.67 million shares or 12.66% less from 25.95 million shares in 2016Q1.
Alpine Partners Vi Limited Liability accumulated 59,972 shares or 0.08% of the stock. Price T Rowe Associate Md reported 1.96 million shares or 0% of all its holdings. Burnham Asset Management Corporation Ny reported 52,400 shares or 0.04% of all its holdings. Moreover, Prescott Group Lc has 0.09% invested in Senomyx Inc. (NASDAQ:SNMX) for 135,900 shares. Lmr Partners Llp holds 0.01% of its portfolio in Senomyx Inc. (NASDAQ:SNMX) for 34,212 shares. Citadel last reported 22,137 shares in the company. Finemark Bancorp holds 6,056 shares or 0% of its portfolio. Vanguard Gp holds 0% or 1.63 million shares in its portfolio. Turner Investments Limited Partnership last reported 0.41% of its portfolio in the stock. Oxford Asset Management last reported 434,231 shares in the company. Da Davidson & holds 0% or 1,500 shares in its portfolio. Northern Trust Corporation holds 0% of its portfolio in Senomyx Inc. (NASDAQ:SNMX) for 110,949 shares. Rice Hall James & Associate Ltd Company holds 0.19% of its portfolio in Senomyx Inc. (NASDAQ:SNMX) for 1.20 million shares. Botty Investors Lc last reported 400 shares in the company. Manufacturers Life Ins The last reported 245 shares in the company.

More notable recent Senomyx Inc. (NASDAQ:SNMX) news were published by: Prnewswire.com which released: “SENOMYX ANNOUNCES FOURTH QUARTER AND FULL YEAR 2015 FINANCIAL RESULTS” on March 03, 2016, also Prnewswire.com with their article: “SENOMYX ANNOUNCES SECOND QUARTER 2016 FINANCIAL RESULTS” published on July 28, 2016, Prnewswire.com published: “SENOMYX ANNOUNCES APPROVAL OF BITTERMYX® BB68 AND SWEETMYX® SR96 FLAVOR …” on August 31, 2016. More interesting news about Senomyx Inc. (NASDAQ:SNMX) were released by: Prnewswire.com and their article: “Senomyx to Webcast Corporate Presentation at the Liolios Group 5th Annual …” published on August 30, 2016 as well as Seekingalpha.com‘s news article titled: “Senomyx: Coiled Or Broken Spring?” with publication date: April 27, 2016.

SNMX Company Profile

Senomyx, Inc., incorporated on September 16, 1998, is focused on using taste receptor technologies to discover, develop and commercialize flavor ingredients for the packaged food, beverage and ingredient supply industries. The Firm operates through development and commercialization of flavor ingredients segment. The Firm is engaged in the discovery, development and/or commercialization of flavor ingredients through its approximately five programs focused on sweet, savory, bitter, cooling and salt taste areas. The Company’s taste receptor assays are used in its screening systems and for screening its compound libraries and identifying flavor ingredients.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Leave a Comment