Codexis (NASDAQ:CDXS) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Codexis, Inc. (NASDAQ:CDXS)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.77 and traded as high as $2.64. Codexis shares last traded at $2.41, with a volume of 1,390,309 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CDXS shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Codexis in a report on Wednesday, January 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Codexis in a research report on Thursday, March 12th. Stifel Nicolaus set a $5.00 price target on Codexis in a report on Thursday, March 12th. Finally, Wall Street Zen upgraded Codexis from a “strong sell” rating to a “hold” rating in a report on Saturday, March 14th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.00.

Codexis Price Performance

The firm’s 50-day moving average is $1.65 and its two-hundred day moving average is $1.78. The company has a market cap of $228.99 million, a P/E ratio of -4.85 and a beta of 2.08. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.82 and a quick ratio of 3.75.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings results on Wednesday, March 11th. The biotechnology company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.10. Codexis had a negative net margin of 62.47% and a negative return on equity of 90.51%. The company had revenue of $38.92 million for the quarter, compared to analysts’ expectations of $35.83 million. Analysts anticipate that Codexis, Inc. will post -0.35 earnings per share for the current year.

Institutional Investors Weigh In On Codexis

Several large investors have recently bought and sold shares of CDXS. Victory Capital Management Inc. purchased a new stake in shares of Codexis during the third quarter valued at $25,000. State of Wyoming purchased a new stake in Codexis in the second quarter worth about $25,000. CIBC Bancorp USA Inc. purchased a new stake in Codexis in the third quarter worth about $26,000. Crux Wealth Advisors purchased a new stake in Codexis in the third quarter worth about $33,000. Finally, Navalign LLC purchased a new stake in Codexis in the fourth quarter worth about $25,000. Institutional investors own 78.54% of the company’s stock.

Codexis Company Profile

Codexis, Inc, headquartered in Redwood City, California, is a leading protein engineering company focused on the development of innovative enzyme solutions for pharmaceutical, food and beverage, and specialty chemical applications. The company’s proprietary directed evolution platform, CodeEvolver®, enables the rapid identification and optimization of enzymes with enhanced activity, selectivity and stability. By leveraging this technology, Codexis provides custom biocatalysts designed to improve manufacturing efficiency and reduce environmental impact.

Since its founding in 2002, Codexis has expanded its capabilities from early-stage research to commercial-scale production.