Codexis (NASDAQ:CDXS) Stock Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Codexis, Inc. (NASDAQ:CDXS - Get Free Report) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.69 and traded as high as $4.57. Codexis shares last traded at $4.52, with a volume of 727,423 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CDXS. Benchmark reissued a "hold" rating on shares of Codexis in a research note on Monday, November 4th. Cantor Fitzgerald reiterated an "overweight" rating and set a $11.00 target price on shares of Codexis in a research report on Friday, November 22nd.

Codexis Stock Up 0.2 %

The stock's fifty day moving average price is $4.74 and its 200-day moving average price is $3.69. 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 capitalization of $368.64 million, a price-to-earnings ratio of -5.21 and a beta of 2.13.

Codexis (NASDAQ:CDXS - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.25) by ($0.04). The company had revenue of $12.83 million during the quarter, compared to the consensus estimate of $11.64 million. Codexis had a negative net margin of 96.35% and a negative return on equity of 71.56%. During the same quarter in the prior year, the business earned ($0.26) earnings per share. On average, sell-side analysts predict that Codexis, Inc. will post -0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Codexis

A number of large investors have recently added to or reduced their stakes in CDXS. abrdn plc boosted its holdings in shares of Codexis by 62.5% during the third quarter. abrdn plc now owns 800,410 shares of the biotechnology company's stock worth $2,465,000 after acquiring an additional 307,762 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Codexis by 23.4% during the 3rd 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 during the last quarter. AQR Capital Management LLC boosted its stake in Codexis by 82.4% in the 2nd quarter. AQR Capital Management LLC now owns 237,272 shares of the biotechnology company's stock valued at $736,000 after purchasing an additional 107,205 shares during the period. Dimensional Fund Advisors LP grew its holdings in Codexis by 34.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 340,762 shares of the biotechnology company's stock valued at $1,056,000 after buying an additional 87,457 shares in the last quarter. Finally, Barclays PLC increased its position in Codexis by 51.1% during 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. 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.