Codexis, Inc. (NASDAQ:CDXS) Short Interest Update

Codexis, Inc. (NASDAQ:CDXS) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 2,000,000 shares, a decrease of 11.5% from the September 30th total of 2,260,000 shares. Based on an average trading volume of 552,700 shares, the short-interest ratio is presently 3.6 days.

Codexis Trading Up 0.3 %

NASDAQ CDXS traded up $0.01 during trading on Tuesday, reaching $3.19. 363,437 shares of the stock traded hands, compared to its average volume of 526,122. Codexis has a fifty-two week low of $1.51 and a fifty-two week high of $4.91. The company has a quick ratio of 2.92, a current ratio of 2.99 and a debt-to-equity ratio of 0.46. The firm has a market cap of $225.08 million, a price-to-earnings ratio of -3.43 and a beta of 2.08. The stock’s 50-day moving average price is $3.03 and its 200 day moving average price is $3.14.

Codexis (NASDAQ:CDXS) last released its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). The business had revenue of $7.98 million for the quarter, compared to analyst estimates of $7.64 million. Codexis had a negative return on equity of 64.06% and a negative net margin of 125.41%. During the same period in the prior year, the business earned ($0.17) EPS. Analysts predict that Codexis will post -0.75 EPS for the current year.

Insider Buying and Selling at Codexis

In related news, major shareholder Opaleye Management Inc. bought 1,055,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were acquired at an average price of $3.01 per share, with a total value of $3,175,550.00. Following the completion of the transaction, the insider now owns 8,390,000 shares of the company’s stock, valued at $25,253,900. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 1,166,000 shares of company stock worth $3,514,910 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Codexis

A number of institutional investors have recently added to or reduced their stakes in CDXS. Private Advisor Group LLC boosted its stake in shares of Codexis by 22.1% during the 1st quarter. Private Advisor Group LLC now owns 231,341 shares of the biotechnology company’s stock worth $807,000 after acquiring an additional 41,855 shares during the period. Baillie Gifford & Co. increased its holdings in shares of Codexis by 0.8% in the first quarter. Baillie Gifford & Co. now owns 3,445,309 shares of the biotechnology company’s stock valued at $12,024,000 after purchasing an additional 26,216 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Codexis in the first quarter valued at about $97,000. BNP Paribas Financial Markets lifted its stake in shares of Codexis by 455.1% during the 1st quarter. BNP Paribas Financial Markets now owns 101,771 shares of the biotechnology company’s stock worth $355,000 after buying an additional 83,436 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in Codexis by 57.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock valued at $99,000 after buying an additional 10,395 shares during the last quarter. 78.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CDXS has been the subject of a number of recent research reports. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 target price on shares of Codexis in a research note on Friday, September 20th. Benchmark downgraded shares of Codexis from a “buy” rating to a “hold” rating in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.75.

Codexis Company Profile

Codexis, Inc discovers, develops, and sells enzymes and other proteins. The company operates through two segments, Performance Enzymes and Novel Biotherapeutics. It offers biocatalyst products and services. The company also provides biocatalyst screening and protein engineering services. In addition, it offers CodeEvolver, a technology platform, which helps in developing and delivering biocatalysts that perform chemical transformations and enhance the efficiency and productivity of manufacturing processes.