Codexis, Inc. (CDXS) Trading Up NaN on Analyst Upgrade
Shares of Codexis, Inc. (NASDAQ:CDXS) were up NaN on Friday after Jefferies Group raised their price target on the stock from $9.00 to $11.00. Jefferies Group currently has a buy rating on the stock. Codexis traded as high as $7.90 and last traded at $0.00. Approximately 613,900 shares changed hands during trading, an increase of Infinity from the average daily volume of 0 shares.
Other analysts also recently issued research reports about the company. HC Wainwright lifted their target price on Codexis from $8.00 to $8.50 and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research raised Codexis from a “hold” rating to a “buy” rating and set a $6.25 price objective on the stock in a research note on Wednesday, July 19th. BidaskClub raised Codexis from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. Finally, ValuEngine raised Codexis from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Codexis presently has an average rating of “Hold” and a consensus target price of $7.50.
In other news, major shareholder Ventures Vii Affiliates F. Vivo sold 1,060,000 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $5.78, for a total value of $6,126,800.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 9.80% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Nationwide Fund Advisors raised its stake in shares of Codexis by 15.7% in the 2nd quarter. Nationwide Fund Advisors now owns 21,568 shares of the biotechnology company’s stock worth $118,000 after buying an additional 2,928 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Codexis by 7,242.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 22,249 shares of the biotechnology company’s stock worth $107,000 after buying an additional 21,946 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Codexis by 2.9% in the 1st quarter. Bank of America Corp DE now owns 25,477 shares of the biotechnology company’s stock worth $122,000 after acquiring an additional 717 shares during the last quarter. Perkins Capital Management Inc. acquired a new position in shares of Codexis in the 2nd quarter worth $164,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Codexis by 30.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,264 shares of the biotechnology company’s stock worth $192,000 after acquiring an additional 8,244 shares during the last quarter. 63.62% of the stock is currently owned by institutional investors.
The company’s market cap is $362.43 million. The stock has a 50-day moving average price of $6.17 and a 200 day moving average price of $5.20.
Codexis (NASDAQ:CDXS) last posted its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.13) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.13). The company had revenue of $10.30 million for the quarter, compared to the consensus estimate of $9.61 million. Codexis had a negative return on equity of 83.39% and a negative net margin of 40.70%. The firm’s quarterly revenue was down 35.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.12 EPS. On average, equities analysts anticipate that Codexis, Inc. will post ($0.42) earnings per share for the current fiscal year.
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Codexis, Inc is a developer of biocatalysts for the pharmaceutical and fine chemicals markets. The Company’s CodeEvolver protein engineering technology platform, which introduces genetic mutations into genes in order to give rise to changes in the enzymes that they produce, overcomes many of the limitations, allowing customers to evolve and optimize biocatalysts to perform specific and desired chemical reactions at commercial scale.
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