A number of firms have modified their ratings and price targets on shares of Codexis (NASDAQ: CDXS) recently:
- 5/16/2023 – Codexis was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
- 5/9/2023 – Codexis was downgraded by analysts at HC Wainwright from a “buy” rating to a “neutral” rating.
- 5/9/2023 – Codexis had its price target lowered by analysts at Benchmark Co. from $15.00 to $9.00.
- 5/8/2023 – Codexis was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
- 4/17/2023 – Codexis had its price target lowered by analysts at Piper Sandler from $21.00 to $14.00. They now have an “overweight” rating on the stock.
Codexis Stock Performance
Shares of CDXS stock opened at $2.47 on Monday. The company has a market capitalization of $164.92 million, a price-to-earnings ratio of -3.43 and a beta of 1.65. The company has a 50-day simple moving average of $3.65 and a 200-day simple moving average of $4.81. Codexis, Inc. has a 52 week low of $2.41 and a 52 week high of $13.03.
Codexis (NASDAQ:CDXS – Get Rating) last announced its earnings results on Thursday, May 4th. The biotechnology company reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.05). The company had revenue of $12.98 million for the quarter, compared to the consensus estimate of $14.09 million. Codexis had a negative return on equity of 32.75% and a negative net margin of 41.17%. The business’s quarterly revenue was down 63.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.13) EPS. Sell-side analysts forecast that Codexis, Inc. will post -0.91 EPS for the current year.
Insider Buying and Selling
In other Codexis news, COO Kevin Norrett sold 8,596 shares of the business’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $4.60, for a total value of $39,541.60. Following the completion of the sale, the chief operating officer now owns 97,360 shares of the company’s stock, valued at approximately $447,856. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Kevin Norrett sold 8,596 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $4.60, for a total transaction of $39,541.60. Following the completion of the sale, the chief operating officer now owns 97,360 shares of the company’s stock, valued at approximately $447,856. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen George Dilly sold 28,088 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $4.60, for a total transaction of $129,204.80. Following the transaction, the insider now owns 407,386 shares of the company’s stock, valued at $1,873,975.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 108,112 shares of company stock valued at $462,673. Company insiders own 7.00% of the company’s stock.
Hedge Funds Weigh In On Codexis
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN grew its holdings in Codexis by 156.6% in the fourth quarter. Wells Fargo & Company MN now owns 6,276 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 3,830 shares during the period. Quantbot Technologies LP acquired a new position in shares of Codexis during the first quarter valued at about $33,000. Tower Research Capital LLC TRC grew its holdings in shares of Codexis by 133.4% during the third quarter. Tower Research Capital LLC TRC now owns 6,007 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 3,433 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Codexis during the first quarter valued at about $50,000. Finally, Point72 Middle East FZE acquired a new position in shares of Codexis during the fourth quarter valued at about $52,000. 93.41% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading
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