Zacks Investment Research cut shares of Codexis (NASDAQ:CDXS) from a hold rating to a sell rating in a research note released on Friday.

According to Zacks, “Codexis, Inc. is a leading protein engineering company that applies its technology to the development of biocatalysts for the commercial manufacture of pharmaceuticals and fine chemicals. Codexis’ proven technology enables implementation of biocatalytic solutions to meet customer needs for rapid, cost-effective and sustainable manufacturing. “

CDXS has been the topic of a number of other reports. BidaskClub raised shares of Codexis from a hold rating to a buy rating in a report on Friday, December 15th. HC Wainwright reissued a buy rating and issued a $8.50 price target on shares of Codexis in a report on Tuesday, November 21st. Finally, Jefferies Group boosted their price target on shares of Codexis from $9.00 to $11.00 and gave the stock a buy rating in a report on Friday, October 13th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $8.58.

Codexis (CDXS) opened at $8.30 on Friday. The firm has a market cap of $410.95, a PE ratio of -12.77 and a beta of -1.61. Codexis has a fifty-two week low of $3.60 and a fifty-two week high of $9.45.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nationwide Fund Advisors lifted its holdings in Codexis by 15.7% during the second quarter. Nationwide Fund Advisors now owns 21,568 shares of the biotechnology company’s stock valued at $118,000 after purchasing an additional 2,928 shares during the last quarter. Thompson Davis & CO. Inc. lifted its holdings in Codexis by 1,753.5% during the fourth quarter. Thompson Davis & CO. Inc. now owns 18,535 shares of the biotechnology company’s stock valued at $155,000 after purchasing an additional 17,535 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Codexis by 30.5% during the second quarter. The Manufacturers Life Insurance Company now owns 35,264 shares of the biotechnology company’s stock valued at $192,000 after purchasing an additional 8,244 shares during the last quarter. Virtu Financial LLC purchased a new stake in Codexis during the fourth quarter valued at about $202,000. Finally, Rhumbline Advisers lifted its holdings in Codexis by 23.3% during the second quarter. Rhumbline Advisers now owns 42,872 shares of the biotechnology company’s stock valued at $234,000 after purchasing an additional 8,095 shares during the last quarter. 66.00% of the stock is currently owned by institutional investors and hedge funds.

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Codexis Company Profile

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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