Codexis (NASDAQ:CDXS) Stock Crosses Above Two Hundred Day Moving Average – What’s Next?

Codexis, Inc. (NASDAQ:CDXS) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.69 and traded as high as $4.57. Codexis shares last traded at $4.52, with a volume of 727,423 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CDXS shares. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 target price on shares of Codexis in a report on Friday, November 22nd. Benchmark reissued a “hold” rating on shares of Codexis in a research note on Monday, November 4th.

Codexis Price Performance

The stock has a market cap of $367.83 million, a P/E ratio of -5.20 and a beta of 2.13. The business has a 50 day simple moving average of $4.74 and a 200-day simple moving average of $3.69. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.15 and a current ratio of 3.21.

Codexis (NASDAQ:CDXS) last posted its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.04). The company had revenue of $12.83 million for the quarter, compared to analysts’ expectations of $11.64 million. Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. During the same quarter last year, the business posted ($0.26) EPS. On average, sell-side analysts forecast that Codexis, Inc. will post -0.77 EPS for the current year.

Institutional Investors Weigh In On Codexis

Large investors have recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new stake in Codexis during the 2nd quarter valued at $54,000. Intech Investment Management LLC bought a new stake in shares of Codexis during the 3rd quarter valued at $66,000. Marshall Wace LLP purchased a new stake in Codexis during the 2nd quarter worth about $89,000. Algert Global LLC boosted its stake in Codexis by 17.1% in the 2nd quarter. Algert Global LLC now owns 41,556 shares of the biotechnology company’s stock worth $129,000 after purchasing an additional 6,069 shares during the period. Finally, Squarepoint Ops LLC grew its holdings in Codexis by 113.8% during the 2nd quarter. Squarepoint Ops LLC now owns 74,531 shares of the biotechnology company’s stock valued at $231,000 after buying an additional 39,664 shares in the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.

About Codexis

Codexis, Inc discovers, develops, and sells enzymes and other proteins. The company operates through two segments, Performance Enzymes and Novel Biotherapeutics. It offers biocatalyst products and services. The company also provides biocatalyst screening and protein engineering services. In addition, it offers CodeEvolver, a technology platform, which helps in developing and delivering biocatalysts that perform chemical transformations and enhance the efficiency and productivity of manufacturing processes.