Calyxt (CLXT) Cut to “Hold” at Zacks Investment Research
Zacks Investment Research cut shares of Calyxt (NASDAQ:CLXT) from a buy rating to a hold rating in a research report released on Wednesday morning.
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. “
CLXT has been the topic of several other reports. Jefferies Financial Group reissued a buy rating and set a $27.00 price target on shares of Calyxt in a research note on Thursday, November 15th. Citigroup decreased their price target on shares of Calyxt from $19.00 to $13.00 and set a neutral rating on the stock in a research note on Monday, November 19th. Finally, Goldman Sachs Group assumed coverage on shares of Calyxt in a research note on Friday, September 7th. They set a neutral rating and a $18.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of Buy and a consensus price target of $21.05.
Calyxt (NASDAQ:CLXT) last released its quarterly earnings results on Wednesday, November 14th. The company reported ($0.23) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.06. Calyxt had a negative net margin of 6,256.67% and a negative return on equity of 33.08%. The business had revenue of $0.03 million for the quarter, compared to analysts’ expectations of $0.50 million. As a group, equities analysts anticipate that Calyxt will post -0.93 EPS for the current fiscal year.
In other news, insider Daniel F. Voytas sold 4,083 shares of the stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $16.13, for a total transaction of $65,858.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Manoj Sahoo sold 2,521 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $14.84, for a total transaction of $37,411.64. The disclosure for this sale can be found here. Insiders have sold 20,553 shares of company stock worth $303,275 over the last three months. 2.80% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its stake in Calyxt by 134.9% in the second quarter. Tower Research Capital LLC TRC now owns 6,583 shares of the company’s stock valued at $123,000 after acquiring an additional 3,781 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in Calyxt in the second quarter valued at approximately $186,000. California Public Employees Retirement System bought a new position in Calyxt in the second quarter valued at approximately $187,000. Granite Investment Partners LLC bought a new position in Calyxt in the second quarter valued at approximately $216,000. Finally, Essex Investment Management Co. LLC bought a new position in Calyxt in the third quarter valued at approximately $309,000. 28.30% of the stock is currently owned by institutional investors and hedge funds.
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 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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