Codexis, Inc. (NASDAQ:CDXS – Get Rating)’s share price was down 6.2% during mid-day trading on Monday after HC Wainwright lowered their price target on the stock from $27.00 to $25.00. HC Wainwright currently has a buy rating on the stock. Codexis traded as low as $8.19 and last traded at $8.21. Approximately 71,000 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 964,664 shares. The stock had previously closed at $8.75.
Several other analysts also recently issued reports on the company. Cowen reduced their price target on Codexis from $39.00 to $21.00 and set an “outperform” rating for the company in a research note on Friday, July 15th. Benchmark set a $20.00 price target on Codexis in a research note on Tuesday, July 19th. Piper Sandler dropped their price objective on Codexis from $35.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. Cowen dropped their price objective on Codexis from $39.00 to $21.00 in a report on Friday, July 15th. Finally, Craig Hallum dropped their price objective on Codexis from $42.00 to $19.00 in a report on Friday, July 15th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $21.33.
Insider Buying and Selling
In related news, CEO John J. Nicols sold 38,500 shares of the firm’s stock in a transaction dated Thursday, May 12th. The stock was sold at an average price of $10.31, for a total value of $396,935.00. Following the sale, the chief executive officer now directly owns 1,022,679 shares of the company’s stock, valued at $10,543,820.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.00% of the stock is owned by insiders.
Institutional Trading of Codexis
Several large investors have recently bought and sold shares of the company. ProShare Advisors LLC boosted its position in Codexis by 3.6% during the 4th quarter. ProShare Advisors LLC now owns 22,288 shares of the biotechnology company’s stock valued at $697,000 after acquiring an additional 768 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Codexis by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 220,879 shares of the biotechnology company’s stock worth $4,554,000 after purchasing an additional 1,618 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Codexis in the 1st quarter worth approximately $33,000. Taylor Frigon Capital Management LLC boosted its position in shares of Codexis by 0.9% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 201,598 shares of the biotechnology company’s stock worth $4,157,000 after purchasing an additional 1,730 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Codexis by 10.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 20,400 shares of the biotechnology company’s stock worth $418,000 after purchasing an additional 1,900 shares in the last quarter.
Codexis Stock Performance
The business has a 50-day moving average price of $9.56 and a 200 day moving average price of $14.44. The stock has a market capitalization of $532.88 million, a P/E ratio of -27.73 and a beta of 1.62.
Codexis (NASDAQ:CDXS – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The biotechnology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.08. Codexis had a negative return on equity of 11.55% and a negative net margin of 14.03%. The firm had revenue of $38.41 million for the quarter, compared to analysts’ expectations of $37.86 million. During the same period in the previous year, the firm posted ($0.07) EPS. The business’s revenue for the quarter was up 50.9% compared to the same quarter last year. As a group, research analysts forecast that Codexis, Inc. will post -0.23 earnings per share for the current fiscal year.
About Codexis
Codexis, Inc discovers, develops, and sells enzymes and other proteins. It offers biocatalyst products and services; intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides biocatalyst screening and protein engineering services.