Kurt W. Briner Buys 10,000 Shares of BioAmber Inc. (BIOA) Stock
BioAmber Inc. (NYSE:BIOA) Director Kurt W. Briner acquired 10,000 shares of BioAmber stock in a transaction that occurred on Tuesday, November 8th. The shares were purchased at an average price of $3.84 per share, for a total transaction of $38,400.00. Following the transaction, the director now directly owns 152,645 shares in the company, valued at $586,156.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of BioAmber Inc. (NYSE:BIOA) opened at 4.57 on Monday. The company’s market cap is $131.78 million. The company’s 50-day moving average price is $4.41 and its 200-day moving average price is $3.78. BioAmber Inc. has a 12 month low of $2.86 and a 12 month high of $8.73.
Several institutional investors have recently bought and sold shares of BIOA. Essex Investment Management Co. LLC raised its position in BioAmber by 21.0% in the third quarter. Essex Investment Management Co. LLC now owns 122,619 shares of the company’s stock worth $520,000 after buying an additional 21,257 shares during the last quarter. Wells Fargo & Company MN raised its position in BioAmber by 47.6% in the third quarter. Wells Fargo & Company MN now owns 58,393 shares of the company’s stock worth $247,000 after buying an additional 18,844 shares during the last quarter. Finally, Robecosam AG bought a new position in BioAmber during the first quarter worth approximately $1,688,000. 42.24% of the stock is owned by hedge funds and other institutional investors.
BIOA has been the topic of a number of research reports. Canaccord Genuity restated a “buy” rating and set a $5.50 price objective on shares of BioAmber in a research report on Sunday, August 7th. Zacks Investment Research upgraded BioAmber from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a research report on Tuesday, November 8th. Five analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average price target of $12.55.
BioAmber Company Profile
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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