Amyris (NASDAQ:AMRS) Stock Price Down 7%

Posted by Casey Walker on Dec 9th, 2022

Amyris, Inc. (NASDAQ:AMRS – Get Rating) fell 7% during mid-day trading on Wednesday . The company traded as low as $1.66 and last traded at $1.67. 70,380 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 7,841,757 shares. The stock had previously closed at $1.79.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AMRS. Piper Sandler raised their price objective on shares of Amyris from $2.50 to $4.00 and gave the company a “neutral” rating in a report on Monday, September 19th. Cowen lowered their price target on shares of Amyris from $13.00 to $6.00 in a report on Thursday, November 10th. Oppenheimer lowered shares of Amyris from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 9th. JPMorgan Chase & Co. lowered shares of Amyris from an “overweight” rating to a “neutral” rating in a report on Thursday, November 10th. Finally, Cowen lowered their price target on shares of Amyris from $13.00 to $6.00 in a report on Thursday, November 10th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.33.

Amyris Trading Up 3.6 %

The company has a market cap of $566.50 million, a price-to-earnings ratio of -1.00 and a beta of 1.08. The firm’s 50-day moving average price is $2.37 and its 200 day moving average price is $2.48.

Insider Transactions at Amyris

In other news, Director Frank Kung sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $3.50, for a total transaction of $700,000.00. Following the completion of the sale, the director now owns 80,000 shares of the company’s stock, valued at approximately $280,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold a total of 2,665,676 shares of company stock valued at $10,623,569 in the last quarter. 33.80% of the stock is currently owned by company insiders.

Institutional Trading of Amyris

Several hedge funds have recently bought and sold shares of the business. Teacher Retirement System of Texas grew its position in Amyris by 10.9% in the 1st quarter. Teacher Retirement System of Texas now owns 35,431 shares of the biotechnology company’s stock valued at $154,000 after purchasing an additional 3,471 shares during the period. American International Group Inc. grew its position in Amyris by 5.0% in the 2nd quarter. American International Group Inc. now owns 92,152 shares of the biotechnology company’s stock valued at $170,000 after purchasing an additional 4,349 shares during the period. Price T Rowe Associates Inc. MD grew its position in Amyris by 3.2% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 148,975 shares of the biotechnology company’s stock valued at $436,000 after purchasing an additional 4,678 shares during the period. Legal & General Group Plc grew its position in Amyris by 3.6% in the 2nd quarter. Legal & General Group Plc now owns 142,454 shares of the biotechnology company’s stock valued at $263,000 after purchasing an additional 4,956 shares during the period. Finally, Metropolitan Life Insurance Co NY grew its position in Amyris by 109.5% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 11,936 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 6,238 shares during the period. Institutional investors and hedge funds own 43.08% of the company’s stock.

About Amyris

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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.