Short Interest in Calyxt Inc (NASDAQ:CLXT) Rises By 6.8%
Calyxt Inc (NASDAQ:CLXT) was the target of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 573,200 shares, a growth of 6.8% from the July 31st total of 536,700 shares. Based on an average daily volume of 75,100 shares, the days-to-cover ratio is presently 7.6 days. Currently, 5.8% of the shares of the stock are short sold.
A number of hedge funds and other institutional investors have recently modified their holdings of CLXT. Bank of America Corp DE lifted its stake in Calyxt by 14.8% during the fourth quarter. Bank of America Corp DE now owns 10,300 shares of the company’s stock valued at $106,000 after buying an additional 1,330 shares in the last quarter. River & Mercantile Asset Management LLP purchased a new stake in Calyxt during the second quarter valued at about $146,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in Calyxt during the first quarter valued at about $172,000. Swiss National Bank purchased a new stake in Calyxt during the second quarter valued at about $228,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in Calyxt by 56.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 21,848 shares of the company’s stock valued at $273,000 after buying an additional 7,887 shares in the last quarter. 28.05% of the stock is owned by institutional investors.
Several research firms recently weighed in on CLXT. Zacks Investment Research downgraded shares of Calyxt from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. National Securities reaffirmed a “buy” rating and issued a $28.00 price objective (down previously from $35.00) on shares of Calyxt in a report on Thursday, August 8th. Finally, BidaskClub raised shares of Calyxt from a “strong sell” rating to a “sell” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $20.00.
Calyxt (NASDAQ:CLXT) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.29) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.03. Calyxt had a negative net margin of 5,509.93% and a negative return on equity of 36.21%. The company had revenue of $0.41 million during the quarter, compared to the consensus estimate of $0.30 million. Equities research analysts anticipate that Calyxt will post -1.11 EPS for the current fiscal year.
Calyxt Company Profile
Calyxt, Inc, a consumer-centric food- and agriculture-focused company, develops healthier specialty food ingredients and food crops using gene-editing technology for agriculture in the United States. It engages in the development of high oleic and low linolenic soybean product candidates; high fiber wheat; improved quality alfalfa product candidates; and cold storable and reduced browning potatoes.
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