Shares of Codexis, Inc. (NASDAQ:CDXS – Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.46 and traded as high as $5.72. Codexis shares last traded at $5.19, with a volume of 1,339,534 shares traded.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. Benchmark reiterated a “hold” rating on shares of Codexis in a research report on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price objective on shares of Codexis in a report on Friday, November 22nd.
Get Our Latest Stock Report on Codexis
Codexis Stock Performance
Codexis (NASDAQ:CDXS – Get Free Report) last released 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). Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. The firm had revenue of $12.83 million for the quarter, compared to analysts’ expectations of $11.64 million. During the same quarter last year, the firm posted ($0.26) earnings per share. On average, analysts forecast that Codexis, Inc. will post -0.77 earnings per share for the current year.
Insider Buying and Selling
In other Codexis news, major shareholder Opaleye Management Inc. acquired 45,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were acquired at an average cost of $2.94 per share, with a total value of $132,300.00. Following the completion of the acquisition, the insider now directly owns 8,435,000 shares in the company, valued at $24,798,900. This trade represents a 0.54 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.10% of the stock is currently owned by insiders.
Institutional Trading of Codexis
Institutional investors have recently modified their holdings of the business. Private Advisor Group LLC boosted its holdings in shares of Codexis by 1.3% in the third quarter. Private Advisor Group LLC now owns 278,699 shares of the biotechnology company’s stock worth $858,000 after acquiring an additional 3,458 shares during the period. Rhumbline Advisers increased its position in shares of Codexis by 3.8% during the second quarter. Rhumbline Advisers now owns 108,594 shares of the biotechnology company’s stock valued at $337,000 after buying an additional 4,017 shares during the period. Perkins Capital Management Inc. boosted its position in shares of Codexis by 2.8% in the third quarter. Perkins Capital Management Inc. now owns 164,100 shares of the biotechnology company’s stock valued at $505,000 after acquiring an additional 4,500 shares during the period. Algert Global LLC increased its holdings in Codexis by 17.1% during the 2nd quarter. Algert Global LLC now owns 41,556 shares of the biotechnology company’s stock worth $129,000 after acquiring an additional 6,069 shares during the period. Finally, Empire Financial Management Company LLC lifted its stake in Codexis by 4.7% in the 3rd quarter. Empire Financial Management Company LLC now owns 222,952 shares of the biotechnology company’s stock worth $687,000 after purchasing an additional 10,000 shares in the last quarter. 78.54% of the stock is currently owned by hedge funds and other institutional investors.
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.
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