Codexis, Inc. (NASDAQ:CDXS – Get Rating) was the target of a significant drop in short interest during the month of January. As of January 15th, there was short interest totalling 5,070,000 shares, a drop of 7.0% from the December 31st total of 5,450,000 shares. Currently, 8.0% of the company's stock are sold short. Based on an average daily volume of 824,300 shares, the short-interest ratio is presently 6.2 days.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the company. HC Wainwright dropped their price target on Codexis from $25.00 to $15.00 and set a "buy" rating on the stock in a research report on Monday, November 7th. StockNews.com downgraded Codexis from a "hold" rating to a "sell" rating in a research note on Monday, January 16th. Finally, Piper Sandler upped their price objective on Codexis from $22.00 to $23.00 and gave the stock an "overweight" rating in a research note on Thursday, January 19th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Codexis currently has a consensus rating of "Moderate Buy" and a consensus target price of $19.83.
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Insider Transactions at Codexis
In other news, Director John J. Nicols sold 39,785 shares of the stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $5.66, for a total transaction of $225,183.10. Following the transaction, the director now owns 863,535 shares of the company's stock, valued at $4,887,608.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director John J. Nicols sold 35,714 shares of the stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $5.68, for a total transaction of $202,855.52. Following the transaction, the director now owns 863,535 shares of the company's stock, valued at $4,904,878.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John J. Nicols sold 39,785 shares of the firm's stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $5.66, for a total transaction of $225,183.10. Following the completion of the transaction, the director now directly owns 863,535 shares in the company, valued at approximately $4,887,608.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,213 shares of company stock valued at $657,323. Insiders own 7.00% of the company's stock.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Strs Ohio grew its stake in shares of Codexis by 65.2% in the second quarter. Strs Ohio now owns 10,900 shares of the biotechnology company's stock worth $114,000 after purchasing an additional 4,300 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Codexis by 44.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 3,018,847 shares of the biotechnology company's stock valued at $31,576,000 after buying an additional 926,159 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Codexis by 75.2% during the second quarter. NewEdge Advisors LLC now owns 73,727 shares of the biotechnology company's stock valued at $771,000 after buying an additional 31,647 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in Codexis by 17.7% during the second quarter. Kornitzer Capital Management Inc. KS now owns 751,264 shares of the biotechnology company's stock valued at $7,858,000 after buying an additional 113,235 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in Codexis by 9.4% during the second quarter. Private Advisor Group LLC now owns 77,930 shares of the biotechnology company's stock valued at $815,000 after buying an additional 6,700 shares in the last quarter. Institutional investors own 93.41% of the company's stock.
Codexis Trading Down 6.8 %
CDXS traded down $0.45 during trading on Monday, reaching $6.12. 845,165 shares of the company were exchanged, compared to its average volume of 783,088. The stock has a market cap of $402.02 million, a P/E ratio of -12.69 and a beta of 1.47. The firm has a 50 day moving average of $5.47 and a 200 day moving average of $6.32. Codexis has a 52 week low of $4.21 and a 52 week high of $22.22.
Codexis (NASDAQ:CDXS – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The biotechnology company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.03. Codexis had a negative return on equity of 19.59% and a negative net margin of 23.49%. The company had revenue of $34.47 million during the quarter, compared to analysts' expectations of $31.41 million. As a group, analysts forecast that Codexis will post -0.56 earnings per share for the current fiscal year.
Codexis Company Profile
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Codexis, Inc is an enzyme engineering company, which engages in the development and sale of therapeutics. It operates through the Performance Enzymes and Novel Biotherapeutics segments. The Performance Enzymes segment commercializes CodeEvolver protein engineering technology platform and products in the pharmaceuticals market.
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