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Should You Add SenesTech (SNES) to Your Portfolio?

Soumya Eswaran
·2 min read

Long Cast Advisers, an investment management firm, released its first quarter 2024 investor letter. A copy of the letter can be downloaded here. Long Cast Advisers follows fundamental analysis to evaluate the companies and invest in small companies barely included in any indexes. In the first quarter, the cumulative net returns of the fund improved by 9%. The fund returned a cumulative 188% net of fees, or 13% CAGR since inception in November 2015 through quarter end 1Q24. Please check the top 5 holdings of the fund for a better understanding of their best picks for 2024.

Long Cast Advisers featured stocks like SenesTech, Inc. (NASDAQ:SNES) in the first quarter 2024 investor letter. Incorporated in 2004, SenesTech, Inc. (NASDAQ:SNES) is a technology developer for managing animal pest populations through fertility control. On May 17, 2024, SenesTech, Inc. (NASDAQ:SNES) stock closed at $0.69 per share. One-month return of SenesTech, Inc. (NASDAQ:SNES) was -7.17%, and its shares lost 95.71% of their value over the last 52 weeks. SenesTech, Inc. (NASDAQ:SNES) has a market capitalization of $3.55 million.

Long Cast Advisers stated the following regarding SenesTech, Inc. (NASDAQ:SNES) in its first quarter 2024 investor letter:

"Finally, I’ve reestablished a small position in SenesTech, Inc. (NASDAQ:SNES at about $0.75 after selling it last year for tax loss harvesting in the split adjusted $4 range. This NYT article came across my desk (shared by my 17-year-old son; he’s paying attention!) indicating that the NYC City Council would vote on a 10-block pilot study of rat contraceptives. The Bill is now in Committee (can be read here) and may be brought to a vote as soon as June. The pilot could provide real world evidence on the market acceptance and product effectiveness of the new “Evolve” soft bait, which is easier and cheaper to deploy than the legacy ContraPest product."

A veterinarian examining a pet in a well-equipped animal clinic.

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SenesTech, Inc. (NASDAQ:SNES) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 1 hedge fund portfolios held SenesTech, Inc. (NASDAQ:SNES) at the end of the fourth quarter which was 1 in the previous quarter. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.

Joel Fruendt, Chief Executive Officer, SenesTech, Inc. (NASDAQ:SNES), shared in the SenesTech, Inc. (NASDAQ:SNES) Q1 2024 Earnings Call Transcript: the company recorded $415,000 revenue in the first quarter, an increase of 78% compared to the first quarter of last year.

 

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Disclosure: None. This article is originally published at Insider Monkey.