Citigroup Lowers Calyxt (CLXT) Price Target to $13.00
Calyxt (NASDAQ:CLXT) had its price target lowered by investment analysts at Citigroup from $19.00 to $13.00 in a research report issued on Monday. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 10.64% from the stock’s previous close.
Several other research analysts have also commented on the company. Jefferies Financial Group restated a “buy” rating and set a $27.00 price target on shares of Calyxt in a research report on Thursday, November 15th. Zacks Investment Research upgraded Calyxt from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a report on Thursday, October 11th. Finally, Goldman Sachs Group assumed coverage on Calyxt in a report on Friday, September 7th. They issued a “neutral” rating and a $18.00 target price for the company. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $21.45.
CLXT opened at $11.75 on Monday. Calyxt has a 52 week low of $11.25 and a 52 week high of $27.23. The firm has a market cap of $390.22 million, a PE ratio of -10.49 and a beta of 3.44. The company has a quick ratio of 15.01, a current ratio of 15.01 and a debt-to-equity ratio of 0.17.
In related news, insider Manoj Sahoo sold 2,521 shares of Calyxt stock in a transaction on Monday, October 1st. The stock was sold at an average price of $14.84, for a total value of $37,411.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Daniel F. Voytas sold 4,083 shares of Calyxt stock in a transaction on Monday, September 10th. The shares were sold at an average price of $16.13, for a total value of $65,858.79. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,553 shares of company stock valued at $303,275. 2.80% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its holdings in Calyxt by 23.6% during the 1st quarter. Wells Fargo & Company MN now owns 38,048 shares of the company’s stock worth $500,000 after purchasing an additional 7,260 shares during the last quarter. Perkins Capital Management Inc. bought a new stake in shares of Calyxt in the 2nd quarter valued at $833,000. Granite Investment Partners LLC bought a new stake in shares of Calyxt in the 2nd quarter valued at $216,000. BlackRock Inc. increased its stake in shares of Calyxt by 21.8% in the 2nd quarter. BlackRock Inc. now owns 733,554 shares of the company’s stock valued at $13,696,000 after acquiring an additional 131,265 shares in the last quarter. Finally, PNC Financial Services Group Inc. bought a new stake in shares of Calyxt in the 2nd quarter valued at $186,000. Hedge funds and other institutional investors own 28.42% of the company’s stock.
Calyxt, Inc, a consumer-centric food- and agriculture-focused company, develops healthier specialty food ingredients and food crops using gene-editing technology for plants in the United States. It engages in the development of high oleic soybeans, high fiber wheat, herbicide tolerant wheat, powdery mildew resistant wheat, improved oil composition canola, herbicide tolerant canola, improved quality alfalfa and herbicide tolerant alfalfa, late blight resistant potatoes, cold storable/reduced browning potatoes, improved protein composition soybeans, drought tolerant soybeans, herbicide tolerant soybeans, and improved yield soybeans.
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