Shares of BioAmber Inc. (NYSE:BIOA) gapped up prior to trading on Tuesday . The stock had previously closed at $0.39, but opened at $0.43. BioAmber shares last traded at $0.46, with a volume of 2511000 shares changing hands.
Several analysts have recently commented on the stock. ValuEngine lowered shares of BioAmber from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Cowen and Company reiterated a “hold” rating and issued a $1.00 price target on shares of BioAmber in a research report on Friday. Zacks Investment Research upgraded shares of BioAmber from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th. Finally, HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of BioAmber in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $6.50.
The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.75 and a current ratio of 1.08.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of BioAmber by 336.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 54,106 shares of the biotechnology company’s stock worth $139,000 after purchasing an additional 41,701 shares during the last quarter. Robecosam AG increased its position in shares of BioAmber by 82.9% in the 3rd quarter. Robecosam AG now owns 1,478,000 shares of the biotechnology company’s stock worth $741,000 after purchasing an additional 670,000 shares during the last quarter. Vanguard Group Inc. increased its position in shares of BioAmber by 9.9% in the 2nd quarter. Vanguard Group Inc. now owns 303,360 shares of the biotechnology company’s stock worth $780,000 after purchasing an additional 27,278 shares during the last quarter. TD Asset Management Inc. bought a new stake in shares of BioAmber in the 2nd quarter worth about $977,000. Finally, FMR LLC increased its position in shares of BioAmber by 18.7% in the 1st quarter. FMR LLC now owns 1,335,000 shares of the biotechnology company’s stock worth $3,097,000 after purchasing an additional 210,000 shares during the last quarter. 36.27% of the stock is owned by institutional investors.
BioAmber Inc (BioAmber), formerly DNP Green Technology, Inc, is an industrial biotechnology company, which produces sustainable chemicals. The Company’s technology platform combines industrial biotechnology and chemical catalysis to convert renewable feedstocks into sustainable chemicals that are replacements for petroleum-derived chemicals, which are used in a range of everyday products, including plastics, food additives and personal care products.
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