Arcadia Biosciences Inc (RKDA) Leaps Forward Towards Commercial Launch as Shares Shatter the Market Ceiling
Arcadia Biosciences Inc (NASDAQ:RKDA) is Smarter Analyst’s bull of the day after the agricultural technology company has managed to pull off not one, but two pivotal tech milestones.
With investors clearly loving the news of RKDA’s High Fiber Resistant Starch (RS) Wheat program’s impressive strides forward, shares have been sent blasting through the market stratosphere- racing up over 300%.
Up next? RKDA is eyeing a commercial launch, cheers president and CEO Raj Ketkar.
Thanks to advanced screening coupled with traditional breeding methods, RKDA has cultivated non-transgenic (non-GM) wheat varieties containing as much as 94% amylose. This is key, as these are the steepest levels possible thus far. Raised levels of amylose relate to tall resistant starch levels, and these carry a legacy of having been able to administer meaningful health advantages. Moreover, the very wheat varieties that offer such strong levels of resistant starch likewise dish out total dietary fiber so high it can even achieve the FDA’s mandated threshold for a “Good Source” of fiber or “High in Fiber” consumer packaging designation.
Ketkar believes his company’s new wheat varieties can enable consumers to relish their favorite foods without sacrificing the health advantages found in resistant starch and dietary fiber. All the while, RKDA fills the bill for consumers desiring clean-label and natural foods. The key technology milestones that have sent bulls clamoring to RKDA shares have Ketkar seeing his commercial launch plan marching nicely forward for the company’s non-GM wheat ingredients portfolio. As far as RKDA’s CEO sees it, his company offers standalone strengths that set Arcadia apart from other consumer packaged goods rivals.
Moving forward, RKDA is in the process of teaming up with other consumer packaged goods players, delving into new formulations of existing products even better for consumer health- formulations enriched and with whole wheat RS Wheat flour. The RKDA team is getting ready for the forthcoming domestic wheat growing season, which is set to see a boost in acres planted.
According to TipRanks, Brett Wong of Piper Jaffray is sidelined on this agricultural technology player, rating a Hold on RKDA stock with a $1 price target. (To watch Wong’s track record, click here)