Codexis, Inc. (NASDAQ:CDXS) Short Interest Down 13.8% in November

Codexis, Inc. (NASDAQ:CDXS) was the recipient of a large drop in short interest during the month of November. As of November 15th, there was short interest totalling 1,680,000 shares, a drop of 13.8% from the October 31st total of 1,950,000 shares. Based on an average trading volume of 661,400 shares, the days-to-cover ratio is presently 2.5 days.

Codexis Stock Down 0.2 %

CDXS stock opened at $4.58 on Friday. The business’s 50-day moving average price is $3.56 and its 200-day moving average price is $3.30. The stock has a market cap of $372.72 million, a P/E ratio of -5.26 and a beta of 2.07. The company has a quick ratio of 3.15, a current ratio of 3.21 and a debt-to-equity ratio of 0.39. Codexis has a twelve month low of $1.85 and a twelve month high of $4.91.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.04). The firm had revenue of $12.83 million for the quarter, compared to analysts’ expectations of $11.64 million. Codexis had a negative net margin of 96.35% and a negative return on equity of 71.56%. During the same period in the prior year, the firm earned ($0.26) EPS. On average, equities research analysts forecast that Codexis will post -0.76 EPS for the current year.

Analyst Ratings Changes

CDXS has been the topic of a number of recent research reports. Benchmark reissued a “hold” rating on shares of Codexis in a report on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price objective on shares of Codexis in a report on Friday, November 22nd.

Insider Activity

In other news, major shareholder Opaleye Management Inc. purchased 1,055,000 shares of the stock in a transaction dated Friday, September 20th. The shares were purchased at an average cost of $3.01 per share, with a total value of $3,175,550.00. Following the acquisition, the insider now directly owns 8,390,000 shares of the company’s stock, valued at $25,253,900. This represents a 14.38 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased a total of 1,166,000 shares of company stock valued at $3,514,910 in the last 90 days. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Codexis

A number of institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC bought a new position in shares of Codexis in the second quarter worth about $54,000. Intech Investment Management LLC bought a new position in Codexis in the 3rd quarter worth approximately $66,000. Marshall Wace LLP purchased a new stake in Codexis during the 2nd quarter valued at approximately $89,000. SG Americas Securities LLC raised its position in shares of Codexis by 72.6% during the second quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company’s stock valued at $114,000 after buying an additional 15,425 shares during the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Codexis by 17.1% in the second quarter. Algert Global LLC now owns 41,556 shares of the biotechnology company’s stock worth $129,000 after buying an additional 6,069 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.