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

Codexis, Inc. (NASDAQ:CDXS)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.79 and traded as high as $2.79. Codexis shares last traded at $2.75, with a volume of 932,136 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Weiss Ratings lowered shares of Codexis from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 22nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Codexis in a research report on Thursday, March 12th. Stifel Nicolaus set a $5.00 target price on shares of Codexis in a research report on Thursday, March 12th. Finally, Wall Street Zen downgraded shares of Codexis from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Codexis has a consensus rating of “Hold” and a consensus target price of $5.00.

Codexis Stock Performance

The business’s 50-day moving average price is $2.32 and its 200-day moving average price is $1.80. The company has a current ratio of 5.36, a quick ratio of 5.23 and a debt-to-equity ratio of 0.94. The stock has a market cap of $251.78 million, a PE ratio of -7.49 and a beta of 2.52.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. Codexis had a negative net margin of 40.97% and a negative return on equity of 68.09%. The firm had revenue of $15.25 million for the quarter, compared to the consensus estimate of $14.53 million. As a group, equities research analysts expect that Codexis, Inc. will post -0.39 earnings per share for the current fiscal year.

Institutional Trading of Codexis

Several large investors have recently bought and sold shares of CDXS. Royal Bank of Canada grew its position in Codexis by 24.9% during the 1st quarter. Royal Bank of Canada now owns 437,126 shares of the biotechnology company’s stock worth $1,176,000 after purchasing an additional 87,044 shares during the last quarter. Geode Capital Management LLC grew its position in Codexis by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 1,977,869 shares of the biotechnology company’s stock worth $4,827,000 after purchasing an additional 52,588 shares during the last quarter. Rhumbline Advisers grew its position in Codexis by 25.9% during the 2nd quarter. Rhumbline Advisers now owns 135,556 shares of the biotechnology company’s stock worth $331,000 after purchasing an additional 27,897 shares during the last quarter. XTX Topco Ltd purchased a new stake in Codexis during the 2nd quarter worth approximately $116,000. Finally, Invesco Ltd. grew its position in Codexis by 42.4% during the 2nd quarter. Invesco Ltd. now owns 96,078 shares of the biotechnology company’s stock worth $234,000 after purchasing an additional 28,631 shares during the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.

Codexis Company Profile

Codexis, Inc, headquartered in Redwood City, California, is a leading protein engineering company focused on the development of innovative enzyme solutions for pharmaceutical, food and beverage, and specialty chemical applications. The company’s proprietary directed evolution platform, CodeEvolver®, enables the rapid identification and optimization of enzymes with enhanced activity, selectivity and stability. By leveraging this technology, Codexis provides custom biocatalysts designed to improve manufacturing efficiency and reduce environmental impact.

Since its founding in 2002, Codexis has expanded its capabilities from early-stage research to commercial-scale production.