Amyris (NASDAQ:AMRS) Downgraded by Jefferies Financial Group

Jefferies Financial Group lowered shares of Amyris (NASDAQ:AMRS – Get Rating) from a buy rating to a hold rating in a research note published on Thursday, The Fly reports. Jefferies Financial Group currently has $0.65 price target on the biotechnology company’s stock, down from their previous price target of $3.10.

AMRS has been the subject of a number of other research reports. StockNews.com initiated coverage on Amyris in a report on Friday, March 17th. They set a sell rating for the company. Canaccord Genuity Group assumed coverage on Amyris in a report on Friday, April 28th. They set a buy rating and a $1.50 price target for the company. HC Wainwright cut their price objective on shares of Amyris from $22.00 to $5.00 in a research report on Thursday, March 16th. Piper Sandler cut their price objective on shares of Amyris from $1.50 to $1.00 in a research report on Wednesday, April 26th. Finally, TD Cowen downgraded shares of Amyris from an outperform rating to a market perform rating and cut their price objective for the stock from $4.00 to $1.25 in a research report on Wednesday, May 10th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Amyris currently has a consensus rating of Hold and an average price target of $3.06.

Amyris Price Performance

Shares of NASDAQ AMRS opened at $0.58 on Thursday. The stock has a market capitalization of $214.43 million, a price-to-earnings ratio of -0.30 and a beta of 1.15. The business has a 50-day moving average of $1.02 and a 200-day moving average of $1.47. Amyris has a fifty-two week low of $0.55 and a fifty-two week high of $4.86.

Amyris (NASDAQ:AMRS – Get Rating) last posted its quarterly earnings results on Wednesday, March 15th. The biotechnology company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.33). The company had revenue of $75.80 million during the quarter, compared to analyst estimates of $104.10 million. On average, sell-side analysts expect that Amyris will post -0.65 EPS for the current year.

Insider Activity

In other news, COO Eduardo Alvarez sold 231,368 shares of Amyris stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $1.23, for a total value of $284,582.64. Following the completion of the sale, the chief operating officer now directly owns 612,546 shares in the company, valued at $753,431.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 36.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC raised its position in Amyris by 626.6% during the first quarter. Squarepoint Ops LLC now owns 91,677 shares of the biotechnology company’s stock valued at $125,000 after purchasing an additional 79,059 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Amyris by 6.9% during the first quarter. Geode Capital Management LLC now owns 4,350,776 shares of the biotechnology company’s stock worth $5,917,000 after buying an additional 280,187 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Amyris by 111.1% during the first quarter. Balyasny Asset Management L.P. now owns 111,667 shares of the biotechnology company’s stock worth $152,000 after buying an additional 58,771 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new stake in shares of Amyris during the first quarter worth $28,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Amyris during the first quarter worth $102,000. 43.08% of the stock is currently owned by institutional investors and hedge funds.

About Amyris

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Amyris, Inc engages in the provision of bioscience solutions. It offers its products to the health and wellness, clean beauty, and flavor and fragrance markets. The company was founded by Jack D. Newman, Kinkead Keith Reiling, and Neil Renninger on July 17, 2003 and is headquartered in Emeryville, CA.