Senomyx Inc (NASDAQ:SNMX) Signals ‘Overbought’ Based on Its RSI

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Senomyx Inc (NASDAQ:SNMX) is at overbought status with an RSI(14) at 88.72 .

The Relative Strength Index (RSI) is one of the most widely used technical indicators used to ascertain strengthening and weakening momentum in stock price. RSI levels above 70 are considered overbought while an RSI of under 30 is considered oversold. Overbought is a technical condition that occurs when price momentum is considered too high and susceptible to a decline.

Volatility

(NASDAQ:SNMX) currently has a beta of 1.07 meaning it is higher in volatility than the market as a whole that has a beta of 1. Stocks with beta’s lower than 1 are considered to be less risky while those with a higher beta are more risky than the market over the long haul.

The stock’s Average True Range (ATR) is 0.11. The ATR is a short term measure of volatility. It doesn’t indicate direction, just proclivity for motion.

(NASDAQ:SNMX) in recent headlines.

Senomyx Reports Third Quarter 2017 Financial Results
Senomyx Expands Cool Program Collaboration with Firmenich.

Short Interest

Investors are a little more bullish on shares of Senomyx Inc if you consider the downtick in short interest. The stock saw a fall in short interest between September 29, 2017 and October 13, 2017 of -4.53%. Short interest decreased from 1,027,110 to 980,569 over that period. Days to cover decreased from 12.0 to 3.0 and the percentage of shorted shares is 0.02% as of October 13.

Senomyx Inc’s P/E ratio is N/A and market capitalization is 66.90M. In the last earnings report the EPS was $-0.26 with 47.79M shares now outstanding.

Company Information

Senomyx, Inc., launched on September 16, 1998, is focused on using taste receptor technologies to discover, develop and commercialize flavor ingredients for the packaged food, beverage and ingredient supply industries. The Company operates through development and commercialization of flavor ingredients segment. The Company is involved in the discovery, development and/or commercialization of flavor ingredients through its approximately five programs focused on sweet, savory, bitter, cooling and salt taste areas. The Business’s taste receptor-based assays are used in its screening systems and for screening its compound libraries and identifying flavor ingredients..