Yield10 Bioscience Inc (NASDAQ:YTEN) shares are trading lower by 21% to $0.57 during Thursday’s session amid volatility after the company announced its focus on advancing its Omega-3 Camelina program towards commercialization in 2024. It completed contra season production of Omega-3 EPA8 Camelina in Chile, a variety crucial for aquafeed and human nutrition.
Yield10 aims to scale up seed production, secure partnerships and navigate regulatory processes. The company is collaborating with BioMar to establish a reliable source of EPA and DHA oils for aquafeed. They’re also working on deregulating Omega-3 Camelina in the US.
Yield10 is also awaiting a decision from the Nasdaq Hearings Panel regarding an appeal related to its listing status. It expects to receive the decision of that panel within the next month.
Additionally, Lake Street analyst Ben Klieve on Thursday downgraded Yield10 on from Buy to Hold and announced a $0.5 price target.
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According to data from Benzinga Pro, YTEN has a 52-week high of $3.95 and a 52-week low of $0.18.
