Codexis, Inc. (NASDAQ:CDXS) Short Interest Update

Codexis, Inc. (NASDAQ:CDXS) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 2,230,000 shares, an increase of 9.9% from the May 31st total of 2,030,000 shares. Based on an average daily trading volume, of 418,200 shares, the days-to-cover ratio is currently 5.3 days.

Codexis Stock Performance

Shares of NASDAQ CDXS traded down $0.01 during trading on Wednesday, hitting $2.88. 227,715 shares of the company traded hands, compared to its average volume of 519,521. The business’s fifty day moving average is $3.25 and its 200 day moving average is $3.17. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.71 and a quick ratio of 3.63. Codexis has a fifty-two week low of $1.45 and a fifty-two week high of $4.91.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings data on Thursday, May 2nd. The biotechnology company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. Codexis had a negative return on equity of 41.76% and a negative net margin of 87.73%. The firm had revenue of $17.07 million during the quarter, compared to analysts’ expectations of $14.06 million. On average, equities research analysts forecast that Codexis will post -0.63 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC lifted its position in Codexis by 674.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,162 shares of the biotechnology company’s stock valued at $46,000 after acquiring an additional 13,203 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Codexis in the first quarter valued at approximately $97,000. State Board of Administration of Florida Retirement System boosted its position in shares of Codexis by 57.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock valued at $99,000 after buying an additional 10,395 shares during the last quarter. SG Americas Securities LLC grew its holdings in Codexis by 19.1% during the fourth quarter. SG Americas Securities LLC now owns 31,442 shares of the biotechnology company’s stock worth $96,000 after buying an additional 5,050 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new position in Codexis during the 3rd quarter valued at $70,000. 78.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CDXS shares. Jefferies Financial Group initiated coverage on Codexis in a research note on Monday, June 3rd. They issued a “buy” rating and a $5.00 price target for the company. Cantor Fitzgerald assumed coverage on Codexis in a research note on Thursday, May 30th. They set an “overweight” rating and a $11.00 price target on the stock. Benchmark restated a “buy” rating and set a $9.00 price target on shares of Codexis in a report on Friday, May 3rd. Finally, StockNews.com upgraded shares of Codexis to a “sell” rating in a report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.14.

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.