Short Interest in Codexis, Inc. (NASDAQ:CDXS) Decreases By 11.7%

Codexis, Inc. (NASDAQ:CDXSGet Free Report) was the target of a significant drop in short interest during the month of May. As of May 31st, there was short interest totalling 2,030,000 shares, a drop of 11.7% from the May 15th total of 2,300,000 shares. Based on an average daily volume of 459,300 shares, the days-to-cover ratio is presently 4.4 days.

Codexis Trading Down 2.9 %

Shares of CDXS stock traded down $0.09 during trading hours on Friday, reaching $3.05. 159,452 shares of the company’s stock were exchanged, compared to its average volume of 351,997. Codexis has a 1 year low of $1.45 and a 1 year high of $4.91. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.71 and a quick ratio of 3.63. The stock’s fifty day moving average price is $3.25 and its two-hundred day moving average price is $3.11.

Codexis (NASDAQ:CDXSGet Free Report) last issued its earnings results on Thursday, May 2nd. The biotechnology company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. The firm had revenue of $17.07 million for the quarter, compared to analyst estimates of $14.06 million. Codexis had a negative return on equity of 41.76% and a negative net margin of 87.73%. As a group, equities research analysts expect that Codexis will post -0.63 EPS for the current year.

Analyst Ratings Changes

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

View Our Latest Analysis on CDXS

Institutional Investors Weigh In On Codexis

A number of large investors have recently bought and sold shares of the company. SG Americas Securities LLC boosted its position in Codexis by 19.1% in the fourth quarter. SG Americas Securities LLC now owns 31,442 shares of the biotechnology company’s stock valued at $96,000 after buying an additional 5,050 shares during the last quarter. Private Advisor Group LLC boosted its position in Codexis by 3.9% in the 4th quarter. Private Advisor Group LLC now owns 189,486 shares of the biotechnology company’s stock worth $578,000 after purchasing an additional 7,065 shares in the last quarter. Algert Global LLC boosted its position in Codexis by 8.9% in the 3rd quarter. Algert Global LLC now owns 107,080 shares of the biotechnology company’s stock worth $202,000 after purchasing an additional 8,720 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in Codexis by 57.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock worth $99,000 after purchasing an additional 10,395 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted 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 worth $46,000 after purchasing an additional 13,203 shares in the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.

About Codexis

(Get Free Report)

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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