Codexis (NASDAQ:CDXS) Share Price Passes Above 200 Day Moving Average – Time to Sell?

by · The Markets Daily

Shares of Codexis, Inc. (NASDAQ:CDXS – Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.00 and traded as high as $2.06. Codexis shares last traded at $1.99, with a volume of 786,069 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Weiss Ratings raised Codexis from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Wall Street Zen downgraded shares of Codexis from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Codexis in a report on Wednesday, June 17th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $5.00.

Read Our Latest Report on Codexis

Codexis Price Performance

The company has a market cap of $134.53 million, a PE ratio of -4.00 and a beta of 2.50. The business has a 50 day moving average of $2.43 and a 200 day moving average of $2.00. The company has a debt-to-equity ratio of 0.94, a current ratio of 5.36 and a quick ratio of 5.23.

Codexis (NASDAQ:CDXS – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, beating 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 business had revenue of $15.25 million for the quarter, compared to the consensus estimate of $14.53 million. As a group, research analysts predict that Codexis, Inc. will post -0.39 EPS for the current year.

Hedge Funds Weigh In On Codexis

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its holdings in Codexis by 2.4% in the first quarter. Bank of New York Mellon Corp now owns 209,645 shares of the biotechnology company’s stock worth $342,000 after buying an additional 4,896 shares during the period. Krilogy Financial LLC boosted its position in Codexis by 20.5% during the 1st quarter. Krilogy Financial LLC now owns 36,257 shares of the biotechnology company’s stock valued at $59,000 after acquiring an additional 6,156 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Codexis by 6.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 100,908 shares of the biotechnology company’s stock worth $246,000 after acquiring an additional 6,300 shares during the period. Brevan Howard Capital Management LP grew its holdings in shares of Codexis by 16.0% during the 3rd quarter. Brevan Howard Capital Management LP now owns 48,734 shares of the biotechnology company’s stock worth $119,000 after acquiring an additional 6,705 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in shares of Codexis by 93.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 16,608 shares of the biotechnology company’s stock worth $41,000 after acquiring an additional 8,038 shares during the period. Hedge funds and other institutional investors own 78.54% of the company’s stock.

Codexis Company Profile

(Get Free Report)

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.

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