Amyris (NASDAQ:AMRS) Shares Down 9.4% on Insider Selling

Amyris, Inc. (NASDAQ:AMRSGet Rating) dropped 9.4% on Tuesday after an insider sold shares in the company. The stock traded as low as $3.58 and last traded at $3.58. Approximately 20,720 shares traded hands during trading, a decline of 100% from the average daily volume of 7,888,919 shares. The stock had previously closed at $3.95.

Specifically, insider Nicole Kelsey sold 94,033 shares of the stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $1.80, for a total value of $169,259.40. Following the sale, the insider now owns 63,333 shares of the company’s stock, valued at $113,999.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO John Melo sold 55,576 shares of the company’s stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $2.12, for a total value of $117,821.12. Following the transaction, the chief executive officer now directly owns 492,701 shares in the company, valued at $1,044,526.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Nicole Kelsey sold 94,033 shares of the company’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $1.80, for a total transaction of $169,259.40. Following the completion of the transaction, the insider now owns 63,333 shares in the company, valued at $113,999.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,615,285 shares of company stock valued at $10,210,649. 33.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AMRS. Piper Sandler increased their target price on shares of Amyris from $2.50 to $4.00 and gave the stock a “neutral” rating in a report on Monday. JPMorgan Chase & Co. started coverage on shares of Amyris in a report on Friday, June 24th. They set a “neutral” rating on the stock. Finally, Roth Capital cut shares of Amyris from a “buy” rating to a “neutral” rating in a report on Wednesday, August 10th.

Amyris Stock Down 11.6 %

The firm has a market capitalization of $1.13 billion, a P/E ratio of -2.31 and a beta of 1.36. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.13 and a current ratio of 1.66. The business’s fifty day moving average price is $2.76 and its two-hundred day moving average price is $3.03.

Amyris (NASDAQ:AMRSGet Rating) last released its quarterly earnings results on Tuesday, August 9th. The biotechnology company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.06). The firm had revenue of $65.20 million for the quarter, compared to analyst estimates of $81.53 million. The business’s quarterly revenue was up 24.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.16) EPS. Equities analysts expect that Amyris, Inc. will post -1.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Amyris

Hedge funds and other institutional investors have recently modified their holdings of the stock. Daiwa Securities Group Inc. raised its position in shares of Amyris by 11.1% in the 1st quarter. Daiwa Securities Group Inc. now owns 250,000 shares of the biotechnology company’s stock valued at $1,090,000 after purchasing an additional 25,000 shares during the last quarter. Farallon Capital Management LLC raised its position in shares of Amyris by 55.9% in the 1st quarter. Farallon Capital Management LLC now owns 16,931,427 shares of the biotechnology company’s stock valued at $73,821,000 after purchasing an additional 6,071,616 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Amyris in the 1st quarter valued at approximately $1,643,000. Nicholas Hoffman & Company LLC. raised its position in shares of Amyris by 25.0% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 100,000 shares of the biotechnology company’s stock valued at $436,000 after purchasing an additional 20,000 shares during the last quarter. Finally, Essex Investment Management Co. LLC raised its position in shares of Amyris by 37.8% in the 1st quarter. Essex Investment Management Co. LLC now owns 359,073 shares of the biotechnology company’s stock valued at $1,566,000 after purchasing an additional 98,549 shares during the last quarter. 43.08% of the stock is owned by hedge funds and other institutional investors.

Amyris Company Profile

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Amyris, Inc, a synthetic biotechnology company, operates in the clean health and beauty, and flavors and fragrance markets in Europe, North America, Asia, and South America. The company manufactures and sells clean beauty, personal care, and health and wellness consumer products, as well as ingredients to the flavor and fragrance, nutrition, food and beverage, and clean beauty and personal care end markets.

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