Codexis, Inc. (CDXS) Reaches New 52-Week High at $7.85
Codexis, Inc. (NASDAQ:CDXS) shares reached a new 52-week high on Thursday . The company traded as high as $7.85 and last traded at $7.85, with a volume of 612,997 shares. The stock had previously closed at $6.70.
A number of research firms recently weighed in on CDXS. Jefferies Group LLC upped their price target on Codexis from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Friday. HC Wainwright upped their price target on Codexis from $8.00 to $8.50 and gave the stock a “buy” rating in a research note on Friday. Zacks Investment Research raised Codexis from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine raised Codexis from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Finally, BidaskClub raised Codexis from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $7.50.
The company has a 50 day moving average of $6.14 and a 200 day moving average of $5.20. The company’s market capitalization is $362.43 million.
Codexis (NASDAQ:CDXS) last announced its quarterly earnings data on Wednesday, August 9th. The biotechnology company reported ($0.13) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.13). Codexis had a negative net margin of 40.70% and a negative return on equity of 83.39%. The company had revenue of $10.30 million during the quarter, compared to analyst estimates of $9.61 million. During the same period in the previous year, the business earned $0.12 EPS. The firm’s revenue for the quarter was down 35.6% on a year-over-year basis. On average, analysts predict that Codexis, Inc. will post ($0.42) EPS for the current year.
In related news, major shareholder Ventures Vii Affiliates F. Vivo sold 1,060,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $5.78, for a total value of $6,126,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.80% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in CDXS. Tower Research Capital LLC TRC raised its holdings in 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 acquiring an additional 21,946 shares during the last quarter. Nationwide Fund Advisors raised its stake in Codexis by 15.7% during the 2nd quarter. Nationwide Fund Advisors now owns 21,568 shares of the biotechnology company’s stock valued at $118,000 after buying an additional 2,928 shares during the last quarter. Bank of America Corp DE raised its stake in Codexis by 2.9% during the 1st quarter. Bank of America Corp DE now owns 25,477 shares of the biotechnology company’s stock valued at $122,000 after buying an additional 717 shares during the last quarter. Perkins Capital Management Inc. purchased a new stake in Codexis during the 2nd quarter valued at $164,000. Finally, The Manufacturers Life Insurance Company raised its stake in Codexis by 30.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 35,264 shares of the biotechnology company’s stock valued at $192,000 after buying an additional 8,244 shares during the last quarter. Institutional investors own 63.62% of the company’s stock.
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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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