Codexis (NASDAQ:CDXS) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Codexis, Inc. (NASDAQ:CDXS)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.14 and traded as high as $3.42. Codexis shares last traded at $3.29, with a volume of 184,836 shares traded.

Wall Street Analyst Weigh In

CDXS has been the subject of several analyst reports. Benchmark cut Codexis from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price objective on shares of Codexis in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Codexis has a consensus rating of “Hold” and a consensus price target of $8.75.

Codexis Trading Down 3.5 %

The business’s 50-day simple moving average is $3.00 and its two-hundred day simple moving average is $3.14. The firm has a market capitalization of $232.14 million, a price-to-earnings ratio of -3.54 and a beta of 2.08. The company has a quick ratio of 2.92, a current ratio of 2.99 and a debt-to-equity ratio of 0.46.

Codexis (NASDAQ:CDXS) last posted its earnings results on Thursday, August 8th. The biotechnology company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Codexis had a negative net margin of 125.41% and a negative return on equity of 64.06%. The company had revenue of $7.98 million during the quarter, compared to analyst estimates of $7.64 million. During the same quarter last year, the business posted ($0.17) EPS. Equities analysts forecast that Codexis, Inc. will post -0.75 earnings per share for the current year.

Insider Activity at Codexis

In other news, major shareholder Opaleye Management Inc. bought 1,055,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was bought at an average cost of $3.01 per share, for a total transaction of $3,175,550.00. Following the acquisition, the insider now directly owns 8,390,000 shares of the company’s stock, valued at $25,253,900. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have bought 1,166,000 shares of company stock worth $3,514,910. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Codexis

A number of hedge funds have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC acquired a new position in shares of Codexis in the second quarter worth $54,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Codexis in the first quarter valued at $97,000. State Board of Administration of Florida Retirement System boosted its holdings in Codexis by 57.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock valued at $99,000 after purchasing an additional 10,395 shares during the period. Marshall Wace LLP acquired a new position in Codexis during the 2nd quarter worth $89,000. Finally, SG Americas Securities LLC increased its holdings in Codexis by 72.6% during the 2nd quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 15,425 shares during the period. 78.54% of the stock is currently owned by institutional investors and hedge funds.

Codexis Company Profile

Codexis, Inc discovers, develops, and sells enzymes and other proteins. The company operates through two segments, Performance Enzymes and Novel Biotherapeutics. It offers biocatalyst products and services. The company also provides biocatalyst screening and protein engineering services. In addition, it offers CodeEvolver, a technology platform, which helps in developing and delivering biocatalysts that perform chemical transformations and enhance the efficiency and productivity of manufacturing processes.