Arcadia Biosciences (RKDA) PT Set at $20.00 by Piper Jaffray Companies

Arcadia Biosciences (NASDAQ:RKDA) received a $20.00 price objective from analysts at Piper Jaffray Companies in a report issued on Wednesday. The firm currently has a “hold” rating on the basic materials company’s stock. Piper Jaffray Companies’ price objective suggests a potential downside of 58.32% from the stock’s current price.

Arcadia Biosciences (NASDAQ RKDA) traded up $36.32 during mid-day trading on Wednesday, reaching $47.99. The company had a trading volume of 13,860,000 shares, compared to its average volume of 248,985. Arcadia Biosciences has a 12 month low of $3.60 and a 12 month high of $54.99. The firm has a market cap of $102.42 and a PE ratio of -5.67.

A hedge fund recently raised its stake in Arcadia Biosciences stock. Renaissance Technologies LLC raised its position in Arcadia Biosciences Inc (NASDAQ:RKDA) by 294.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 552,600 shares of the basic materials company’s stock after buying an additional 412,400 shares during the period. Renaissance Technologies LLC owned about 25.94% of Arcadia Biosciences worth $152,000 at the end of the most recent reporting period. 36.07% of the stock is owned by institutional investors and hedge funds.

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About Arcadia Biosciences

Arcadia Biosciences, Inc is an agricultural biotechnology trait company. The Company develops a portfolio of yield and traits addressing multiple crops that supply the global food and feed markets. It has a pipeline of products in development incorporating its traits, including products that are in advanced stages of development or on the market.

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