Senes Tech Inc (SNES) Stock gains Further Momentum: Now What?

The rodent fertility company Senes Tech Inc (NASDAQ:SNES) seems to be in focus among investors in premarket trading period and the stock has already jumped by 4% so far. While the gains in the stock may be eye catching, it should be pointed out that there has been no news about the inventor of the world’s only rat contraceptive today.

Back in May that company announced its financial results for the first fiscal quarter of 2021. The company not only reported a 138% year on year jump in revenues but in addition to that the operating expenses were also cut down by as much as 20% year on year.

The change in fortunes of the company is due to the fact that Senes Tech pivoted from being a science related research firm to a company that was more geared towards solutions. The company rebranded as an environmentally responsible organisation focussed on providing unique tools for pest management.

The company’s rat contraceptive ControlPest has actually emerged as one of the major successes for the company. Senes Tech conducted plenty of tests in commercial, agricultural and residential locations for the product over a period of five years. It is proactive and also a non-lethal way of controlling rat infestation.

Market Reaction:

On Friday, SNES stock gained 4.40% to $1.66 with more than 260K shares, compared to its average volume of 291k shares. The stock has moved within a range of $1.5700 – 1.6700 after opening the trade at $1.57. Over the past 52-week, the stock has been trading within a range of $1.3000 – 3.3600. The stock is up another 4% in pre-open session.