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

Codexis, Inc. (NASDAQ:CDXS - Get Free Report) saw a significant drop in short interest in November. As of November 15th, there was short interest totalling 1,680,000 shares, a drop of 13.8% from the October 31st total of 1,950,000 shares. Based on an average daily trading volume, of 661,400 shares, the short-interest ratio is presently 2.5 days.

Codexis Trading Down 0.2 %

Shares of Codexis stock traded down $0.01 during mid-day trading on Friday, hitting $4.58. 256,486 shares of the stock were exchanged, compared to its average volume of 706,814. The company has a 50-day simple moving average of $3.56 and a 200 day simple moving average of $3.29. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $372.72 million, a price-to-earnings ratio of -5.26 and a beta of 2.07. Codexis has a twelve month low of $1.85 and a twelve month high of $4.91.

Codexis (NASDAQ:CDXS - Get Free Report) last issued 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 net margin of 96.35% and a negative return on equity of 71.56%. The business had revenue of $12.83 million during the quarter, compared to analyst estimates of $11.64 million. During the same quarter last year, the firm posted ($0.26) earnings per share. Research analysts forecast that Codexis will post -0.76 EPS for the current year.

Analysts Set New Price Targets

CDXS has been the subject of a number of research reports. Cantor Fitzgerald restated an "overweight" rating and set a $11.00 target price on shares of Codexis in a research report on Friday, November 22nd. Benchmark reaffirmed a "hold" rating on shares of Codexis in a research note on Monday, November 4th.

Insider Buying and Selling at Codexis

In other news, major shareholder Opaleye Management Inc. purchased 45,000 shares of the business's stock in a transaction dated Monday, September 23rd. The stock was acquired at an average price of $2.94 per share, with a total value of $132,300.00. Following the purchase, the insider now directly owns 8,435,000 shares of the company's stock, valued at $24,798,900. This represents a 0.54 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders purchased 1,166,000 shares of company stock valued at $3,514,910. Corporate insiders own 2.10% of the company's stock.

Institutional Investors Weigh In On Codexis

Several hedge funds have recently modified their holdings of CDXS. Barclays PLC raised its position in shares of Codexis by 51.1% in the 3rd quarter. Barclays PLC now owns 207,628 shares of the biotechnology company's stock worth $640,000 after buying an additional 70,255 shares during the period. Empire Financial Management Company LLC increased its stake in Codexis by 4.7% during the third quarter. Empire Financial Management Company LLC now owns 222,952 shares of the biotechnology company's stock worth $687,000 after acquiring an additional 10,000 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Codexis by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,644,039 shares of the biotechnology company's stock worth $5,065,000 after purchasing an additional 11,082 shares during the period. State Street Corp lifted its stake in shares of Codexis by 2.7% in the 3rd quarter. State Street Corp now owns 1,551,411 shares of the biotechnology company's stock valued at $4,778,000 after purchasing an additional 41,480 shares in the last quarter. Finally, FMR LLC lifted its stake in shares of Codexis by 1.2% in the 3rd quarter. FMR LLC now owns 4,497,090 shares of the biotechnology company's stock valued at $13,851,000 after purchasing an additional 51,822 shares in the last quarter. 78.54% of the stock is owned by institutional investors and hedge funds.

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.