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Amyris (NASDAQ:AMRS) Shares Gap Down After Earnings Miss

Defense World · Aug 11, 2022 01:52

Amyris, Inc. (NASDAQ:AMRS – Get Rating) shares gapped down prior to trading on Wednesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $2.29, but opened at $2.22. Amyris shares last traded at $2.37, with a volume of 100,965 shares changing hands.

The biotechnology company reported ($0.34) earnings per share for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.06). The company had revenue of $65.20 million for the quarter, compared to analysts' expectations of $81.53 million. During the same period in the previous year, the business posted ($0.16) earnings per share. Amyris's revenue was up 24.7% compared to the same quarter last year.

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Analysts Set New Price Targets

AMRS has been the subject of a number of research reports. Piper Sandler initiated coverage on shares of Amyris in a research report on Wednesday, May 25th. They issued a "neutral" rating and a $2.50 price target for the company. JPMorgan Chase & Co. assumed coverage on shares of Amyris in a report on Friday, June 24th. They issued a "neutral" rating for the company. Finally, Roth Capital cut shares of Amyris from a "buy" rating to a "neutral" rating in a report on Wednesday.

Insider Activity

In other news, CFO Hermanus Kieftenbeld sold 34,905 shares of the business's stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $2.34, for a total transaction of $81,677.70. Following the transaction, the chief financial officer now directly owns 266,655 shares in the company, valued at $623,972.70. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO John Melo sold 55,576 shares of the business's stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $2.12, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Hermanus Kieftenbeld sold 34,905 shares of the business's stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $2.34, for a total transaction of $81,677.70. Following the transaction, the chief financial officer now owns 266,655 shares in the company, valued at $623,972.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 199,225 shares of company stock valued at $403,182. Insiders own 33.80% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Cerity Partners LLC increased its stake in shares of Amyris by 38.2% during the second quarter. Cerity Partners LLC now owns 33,579 shares of the biotechnology company's stock worth $63,000 after acquiring an additional 9,279 shares during the period. Walleye Capital LLC grew its position in Amyris by 65.4% during the second quarter. Walleye Capital LLC now owns 87,297 shares of the biotechnology company's stock worth $161,000 after buying an additional 34,513 shares during the period. Moors & Cabot Inc. grew its position in Amyris by 31.3% during the second quarter. Moors & Cabot Inc. now owns 81,750 shares of the biotechnology company's stock worth $151,000 after buying an additional 19,500 shares during the period. State of Michigan Retirement System grew its position in Amyris by 35.9% during the second quarter. State of Michigan Retirement System now owns 6,545,000 shares of the biotechnology company's stock worth $12,108,000 after buying an additional 1,730,000 shares during the period. Finally, Merit Financial Group LLC acquired a new position in Amyris during the second quarter worth about $451,000. 49.43% of the stock is currently owned by institutional investors and hedge funds.

Amyris Stock Up 41.9 %

The company has a debt-to-equity ratio of 1.26, a current ratio of 1.77 and a quick ratio of 1.46. The firm's 50-day simple moving average is $2.05 and its two-hundred day simple moving average is $3.27. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of -2.64 and a beta of 1.63.

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.