Codexis, Inc. (NASDAQ:CDXS) Short Interest Up 10.5% in December

Codexis, Inc. (NASDAQ:CDXS - Get Free Report) saw a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,900,000 shares, an increase of 10.5% from the November 30th total of 1,720,000 shares. Based on an average daily volume of 660,000 shares, the short-interest ratio is presently 2.9 days.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $11.00 price objective on shares of Codexis in a report on Friday, November 22nd. Benchmark reaffirmed a "hold" rating on shares of Codexis in a report on Monday, November 4th.

Codexis Price Performance

NASDAQ:CDXS traded up $0.10 during mid-day trading on Tuesday, hitting $4.77. 645,250 shares of the stock traded hands, compared to its average volume of 568,039. Codexis has a 12-month low of $2.53 and a 12-month high of $6.08. The company has a quick ratio of 3.15, a current ratio of 3.21 and a debt-to-equity ratio of 0.39. The company has a market cap of $388.17 million, a PE ratio of -5.48 and a beta of 2.15. The business's 50-day moving average price is $4.41 and its 200 day moving average price is $3.55.

Codexis (NASDAQ:CDXS - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $12.83 million for the quarter, compared to analysts' expectations of $11.64 million. During the same quarter last year, the firm earned ($0.26) earnings per share. On average, analysts expect that Codexis will post -0.77 EPS for the current fiscal year.

Institutional Trading of Codexis

Institutional investors and hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. grew its holdings in shares of Codexis by 23.4% during the third quarter. Assenagon Asset Management S.A. now owns 1,103,442 shares of the biotechnology company's stock worth $3,399,000 after purchasing an additional 209,207 shares in the last quarter. State Street Corp grew its stake in Codexis by 2.7% in the 3rd quarter. State Street Corp now owns 1,551,411 shares of the biotechnology company's stock worth $4,778,000 after buying an additional 41,480 shares in the last quarter. abrdn plc increased its holdings in shares of Codexis by 62.5% in the 3rd quarter. abrdn plc now owns 800,410 shares of the biotechnology company's stock worth $2,465,000 after buying an additional 307,762 shares during the last quarter. GSA Capital Partners LLP raised its position in shares of Codexis by 83.5% during the 3rd quarter. GSA Capital Partners LLP now owns 99,629 shares of the biotechnology company's stock valued at $307,000 after buying an additional 45,337 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Codexis by 12.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 284,166 shares of the biotechnology company's stock worth $881,000 after acquiring an additional 32,138 shares during the last quarter. Hedge funds and other institutional investors own 78.54% of the company's stock.

Codexis Company Profile

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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