Calyxt (CLXT) Lifted to Hold at Zacks Investment Research
Calyxt (NASDAQ:CLXT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Calyxt, Inc. is a consumer-centric, food- and agriculture-focused company. It researches and develops seeds and food ingredients for agricultural, feed, and food applications as well as offers fat saturation and gluten reduction in soybean oil and wheat. Calyxt, Inc. is based in New Brighton, United States. “
Several other analysts have also issued reports on CLXT. Citigroup lowered Calyxt from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 27th. Wells Fargo & Co boosted their target price on Calyxt from $17.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, September 29th. BMO Capital Markets started coverage on Calyxt in a research note on Monday, October 30th. They issued an “outperform” rating and a $32.00 target price on the stock. Jefferies Group boosted their target price on Calyxt to $27.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Finally, Ladenburg Thalmann Financial Services started coverage on Calyxt in a research note on Wednesday, December 20th. They issued a “buy” rating and a $34.25 target price on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $29.05.
Shares of Calyxt (NASDAQ CLXT) traded up $0.28 on Monday, hitting $23.37. The company’s stock had a trading volume of 40,200 shares, compared to its average volume of 67,550. The company has a market capitalization of $639.43 and a price-to-earnings ratio of -25.68. The company has a debt-to-equity ratio of 0.13, a quick ratio of 12.41 and a current ratio of 12.41. Calyxt has a 52-week low of $9.26 and a 52-week high of $31.89.
Several institutional investors and hedge funds have recently modified their holdings of the business. American International Group Inc. bought a new stake in shares of Calyxt in the third quarter valued at $133,000. California State Teachers Retirement System purchased a new position in shares of Calyxt in the third quarter valued at $323,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Calyxt in the third quarter valued at $358,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Calyxt in the third quarter valued at $542,000. Hedge funds and other institutional investors own 21.13% of the company’s stock.
Calyxt, Inc is a food and agriculture company. The Company is focused on delivering healthier specialty food ingredients, such as healthier oils and high fiber wheat, for consumers and agriculturally advantageous crop traits, such as herbicide tolerance to farmers. The Company also combines gene-editing technology and technical that enables to edit a plant genome to elicit the desired traits and characteristics.
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