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

Codexis, Inc. (NASDAQ:CDXS)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.14 and traded as high as $3.42. Codexis shares last traded at $3.29, with a volume of 184,836 shares.

Analyst Ratings Changes

A number of research analysts recently issued reports on CDXS shares. Benchmark downgraded shares of Codexis from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price objective on shares of Codexis in a report on Friday, September 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $8.75.

Codexis Price Performance

The stock has a market capitalization of $232.14 million, a PE ratio of -3.54 and a beta of 2.08. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.99 and a quick ratio of 2.92. The stock’s fifty day moving average is $3.00 and its 200-day moving average is $3.14.

Codexis (NASDAQ:CDXS) last posted its earnings results on Thursday, August 8th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Codexis had a negative return on equity of 64.06% and a negative net margin of 125.41%. The firm had revenue of $7.98 million for the quarter, compared to analysts’ expectations of $7.64 million. During the same period in the previous year, the company earned ($0.17) earnings per share. As a group, equities analysts predict that Codexis, Inc. will post -0.75 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder Opaleye Management Inc. purchased 45,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was bought at an average price of $2.94 per share, with a total value of $132,300.00. Following the acquisition, the insider now owns 8,435,000 shares in the company, valued at $24,798,900. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 1,166,000 shares of company stock worth $3,514,910 in the last quarter. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Codexis

Hedge funds and other institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new position in Codexis in the 2nd quarter valued at $54,000. Marshall Wace LLP purchased a new stake in shares of Codexis during the second quarter worth $89,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Codexis in the first quarter valued at about $97,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Codexis by 57.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock worth $99,000 after buying an additional 10,395 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Codexis by 72.6% during the second quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company’s stock worth $114,000 after acquiring an additional 15,425 shares during the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.

Codexis Company Profile

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.