Calyxt (CLXT) Cut to Sell at Zacks Investment Research

Calyxt (NASDAQ:CLXT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Friday.

According to Zacks, “Calyxt, Inc. is a consumer-centric, food- and agriculture-focused company. It researches and develops seeds and food ingredients for agricultural, feed, and food applications as well as offers fat saturation and gluten reduction in soybean oil and wheat. Calyxt, Inc. is based in New Brighton, United States. “

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CLXT has been the subject of several other research reports. ValuEngine downgraded Calyxt from a “hold” rating to a “sell” rating in a research report on Wednesday, March 7th. Jefferies Group reissued a “buy” rating and set a $27.00 price target on shares of Calyxt in a research report on Thursday, March 1st. Finally, Ladenburg Thalmann Financial Services initiated coverage on Calyxt in a research report on Wednesday, December 20th. They set a “buy” rating and a $34.25 price target for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $29.05.

Calyxt (NASDAQ:CLXT) traded down $1.67 during trading on Friday, reaching $15.35. The company’s stock had a trading volume of 70,063 shares, compared to its average volume of 59,468. The company has a quick ratio of 13.52, a current ratio of 13.52 and a debt-to-equity ratio of 0.18. Calyxt has a one year low of $9.26 and a one year high of $31.89.

In other news, Director Michel Arbadji sold 3,500 shares of Calyxt stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $18.63, for a total value of $65,205.00. Following the completion of the sale, the director now owns 32,900 shares of the company’s stock, valued at $612,927. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Daniel F. Voytas sold 4,666 shares of Calyxt stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $17.91, for a total value of $83,568.06. Following the completion of the sale, the insider now directly owns 4,666 shares of the company’s stock, valued at approximately $83,568.06. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,496 shares of company stock valued at $2,045,928.

Several large investors have recently made changes to their positions in CLXT. BlackRock Inc. grew its position in shares of Calyxt by 102.8% in the fourth quarter. BlackRock Inc. now owns 740,010 shares of the company’s stock valued at $16,302,000 after purchasing an additional 375,137 shares during the period. Wells Fargo & Company MN grew its position in shares of Calyxt by 1,421.9% in the fourth quarter. Wells Fargo & Company MN now owns 30,788 shares of the company’s stock valued at $678,000 after purchasing an additional 28,765 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Calyxt in the third quarter valued at $542,000. Goldman Sachs Group Inc. purchased a new stake in shares of Calyxt in the fourth quarter valued at $330,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in shares of Calyxt in the third quarter valued at $358,000. 22.35% of the stock is owned by institutional investors and hedge funds.

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About Calyxt

Calyxt, Inc, a consumer-centric food- and agriculture-focused company, develops healthier specialty food ingredients and food crops using gene-editing technology for plants in the United States. It engages in the development of high oleic soybeans, high fiber wheat, herbicide tolerant wheat, powdery mildew resistant wheat, enhanced oil composition and herbicide tolerant canola, enhanced quality and herbicide tolerant alfalfa, late blight resistant potatoes, and cold storable/reduced browning potatoes, as well as enhanced protein composition, drought tolerant, herbicide tolerant, and enhanced yield soybeans.

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