Fmr LLC raised its position in shares of BioAmber Inc. (NYSE:BIOA) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,360,000 shares of the biotechnology company’s stock after acquiring an additional 25,000 shares during the quarter. Fmr LLC owned about 3.67% of BioAmber worth $3,495,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in BioAmber by 9.9% during the second quarter. Vanguard Group Inc. now owns 303,360 shares of the biotechnology company’s stock valued at $780,000 after acquiring an additional 27,278 shares during the last quarter. Bank of New York Mellon Corp boosted its position in BioAmber by 336.2% during the second quarter. Bank of New York Mellon Corp now owns 54,106 shares of the biotechnology company’s stock valued at $139,000 after acquiring an additional 41,701 shares during the last quarter. TD Asset Management Inc. bought a new stake in BioAmber during the second quarter valued at $977,000. Finally, NN Investment Partners Holdings N.V. boosted its position in BioAmber by 160.7% during the second quarter. NN Investment Partners Holdings N.V. now owns 2,864,155 shares of the biotechnology company’s stock valued at $7,362,000 after acquiring an additional 1,765,579 shares during the last quarter. 36.28% of the stock is currently owned by institutional investors and hedge funds.
BioAmber Inc. (NYSE:BIOA) opened at $0.53 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.50 and a quick ratio of 1.03.
BioAmber (NYSE:BIOA) last released its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.03). The company had revenue of $4.12 million for the quarter, compared to the consensus estimate of $4.09 million. BioAmber had a negative return on equity of 56.55% and a negative net margin of 221.82%.
A number of analysts have commented on the stock. Cowen and Company set a $3.00 price target on shares of BioAmber and gave the company a “hold” rating in a research report on Monday, July 17th. Zacks Investment Research cut shares of BioAmber from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, ValuEngine cut shares of BioAmber from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 8th.
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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