Codexis (NASDAQ:CDXS) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Codexis, Inc. (NASDAQ:CDXS) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.88 and traded as high as $2.64. Codexis shares last traded at $2.57, with a volume of 1,748,133 shares traded.

Analyst Ratings Changes

A number of analysts have recently issued reports on CDXS shares. Wall Street Zen cut Codexis from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Weiss Ratings cut Codexis from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Codexis in a research report on Wednesday. Finally, Stifel Nicolaus set a $5.00 price target on shares of Codexis in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.00.

Codexis Stock Performance

The company’s fifty day moving average price is $2.57 and its two-hundred day moving average price is $1.89. The company has a quick ratio of 5.23, a current ratio of 5.36 and a debt-to-equity ratio of 0.94. The company has a market cap of $233.61 million, a price-to-earnings ratio of -6.95 and a beta of 2.48.

Codexis (NASDAQ:CDXS) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.01. The business had revenue of $15.25 million for the quarter, compared to the consensus estimate of $14.53 million. Codexis had a negative return on equity of 68.09% and a negative net margin of 40.97%. Research analysts expect that Codexis, Inc. will post -0.36 earnings per share for the current year.

Institutional Trading of Codexis

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its stake in shares of Codexis by 2.4% during the first quarter. Bank of New York Mellon Corp now owns 209,645 shares of the biotechnology company’s stock worth $342,000 after purchasing an additional 4,896 shares during the period. Krilogy Financial LLC increased its holdings in Codexis by 20.5% in the first quarter. Krilogy Financial LLC now owns 36,257 shares of the biotechnology company’s stock valued at $59,000 after purchasing an additional 6,156 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in Codexis by 6.7% in the second quarter. Bridgeway Capital Management LLC now owns 100,908 shares of the biotechnology company’s stock valued at $246,000 after buying an additional 6,300 shares during the period. Brevan Howard Capital Management LP lifted its stake in Codexis by 16.0% in the third quarter. Brevan Howard Capital Management LP now owns 48,734 shares of the biotechnology company’s stock valued at $119,000 after buying an additional 6,705 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in Codexis by 93.8% during the third quarter. BNP Paribas Financial Markets now owns 16,608 shares of the biotechnology company’s stock worth $41,000 after buying an additional 8,038 shares during the last quarter. 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.