Senomyx (SNMX) : The conviction of the bears is waning as is visible by the drop in the short positions from Jul 29, 2016, to August 15, 2016. The total outstanding shorts decreased from 4,006,404 to 3,843,982 shares, with 20 days to go before the expiry. The short open interest has decreased by -4.1%, amounting to a reduction of -162,422 shares. Only a handful of traders believe that the stock has a large downside from current levels, as seen in the low short interest of 8.7% of the float of the company. The average daily volume of the stock is 190,338 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Senomyx (NASDAQ:SNMX): The stock opened at $3.85 on Wednesday but the bulls could not build on the opening and the stock topped out at $4.07 for the day. The stock traded down to $3.85 during the day, due to lack of any buying support eventually closed down at $3.91 with a loss of -0.26% for the day. The stock had closed at $3.92 on the previous day. The total traded volume was 121,096 shares.
Senomyx, Inc. is focused on using taste receptor technologies to discover, develop and commercialize flavor ingredients for the packaged food, beverage and ingredient supply industries to improve the nutritional profile of their products and generate cost of goods savings while maintaining or improving taste. The Company is engaged in the discovery, development and/or commercialization of flavor ingredients through five programs focused on sweet, savory, bitter, cooling and salt taste areas. It has developed taste receptor-based assays for use in its screening systems and to screen its compound libraries and identify potential flavor ingredients. It has identified S2383, a modifier of the sweetener sucralose; S6973 and S9632, two modifiers of sucrose, or common table sugar, and S617, a modifier of sucrose and high fructose corn syrup. It has also identified several sample classes of new cooling agents that demonstrate a taste proof-of-concept and display cooling properties.