Codexis, Inc. (NASDAQ:CDXS) Sees Significant Decrease in Short Interest

Codexis, Inc. (NASDAQ:CDXS) was the target of a significant decrease in short interest in March. As of March 15th, there was short interest totalling 2,290,000 shares, a decrease of 9.8% from the February 29th total of 2,540,000 shares. Based on an average daily volume of 631,800 shares, the short-interest ratio is currently 3.6 days.

Analyst Ratings Changes

Several equities research analysts have weighed in on CDXS shares. Benchmark raised Codexis from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a report on Thursday, February 29th. StockNews.com raised Codexis to a “sell” rating in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.80.

Hedge Funds Weigh In On Codexis

A number of hedge funds have recently modified their holdings of the business. Quantbot Technologies LP acquired a new stake in Codexis during the 1st quarter worth $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 worth $37,000 after buying an additional 3,433 shares during the last quarter. Wells Fargo & Company MN increased its position in Codexis by 156.6% in the 4th quarter. Wells Fargo & Company MN now owns 6,276 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 3,830 shares during the period. US Bancorp DE raised its stake in Codexis by 517.5% during the 1st quarter. US Bancorp DE now owns 8,380 shares of the biotechnology company’s stock valued at $172,000 after acquiring an additional 7,023 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new stake in Codexis during the 2nd quarter worth approximately $29,000. 78.54% of the stock is currently owned by hedge funds and other institutional investors.

Codexis Price Performance

Shares of NASDAQ:CDXS traded down $0.15 during trading on Tuesday, hitting $3.33. 380,174 shares of the company were exchanged, compared to its average volume of 611,965. The firm’s 50 day moving average price is $3.26 and its 200-day moving average price is $2.59. Codexis has a 12-month low of $1.45 and a 12-month high of $4.91. The stock has a market capitalization of $234.10 million, a P/E ratio of -3.02 and a beta of 2.01.

Codexis (NASDAQ:CDXS) last announced its earnings results on Wednesday, February 28th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.18. The firm had revenue of $26.56 million during the quarter, compared to analysts’ expectations of $24.73 million. Codexis had a negative return on equity of 47.58% and a negative net margin of 108.69%. As a group, equities research analysts anticipate that Codexis will post -0.6 EPS for the current year.

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.