Codexis (NASDAQ:CDXS) Stock Passes Above Two Hundred Day Moving Average - Should You Sell?

Codexis, Inc. (NASDAQ:CDXS - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.14 and traded as high as $3.42. Codexis shares last traded at $3.29, with a volume of 184,836 shares.

Analyst Ratings Changes

CDXS has been the topic of several recent research reports. Benchmark cut shares of Codexis from a "buy" rating to a "hold" rating in a research note on Monday, August 19th. Cantor Fitzgerald reissued an "overweight" rating and set a $11.00 price target on shares of Codexis in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $8.75.

Codexis Stock Performance

The stock has a market capitalization of $232.84 million, a PE ratio of -3.55 and a beta of 2.08. The firm's fifty day moving average is $3.01 and its 200-day moving average is $3.14. The company has a current ratio of 2.99, a quick ratio of 2.92 and a debt-to-equity ratio of 0.46.

Codexis (NASDAQ:CDXS - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.06). The business had revenue of $7.98 million for the quarter, compared to analysts' expectations of $7.64 million. Codexis had a negative return on equity of 64.06% and a negative net margin of 125.41%. During the same quarter last year, the company earned ($0.17) earnings per share. As a group, research analysts anticipate that Codexis, Inc. will post -0.75 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Opaleye Management Inc. acquired 1,055,000 shares of the stock in a transaction dated Friday, September 20th. The stock was acquired at an average cost of $3.01 per share, with a total value of $3,175,550.00. Following the completion of the transaction, the insider now owns 8,390,000 shares in the company, valued at $25,253,900. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired 1,166,000 shares of company stock worth $3,514,910 over the last three months. Company insiders own 2.10% of the company's stock.

Hedge Funds Weigh In On Codexis

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDXS. Kent Lake Capital LLC acquired a new position in Codexis in the first quarter valued at approximately $2,197,000. Platinum Investment Management Ltd. acquired a new stake in shares of Codexis in the first quarter valued at approximately $802,000. Vanguard Group Inc. boosted its holdings in shares of Codexis by 3.1% in the first quarter. Vanguard Group Inc. now owns 4,258,201 shares of the biotechnology company's stock valued at $14,861,000 after acquiring an additional 129,773 shares during the period. Perkins Capital Management Inc. boosted its holdings in shares of Codexis by 242.5% in the first quarter. Perkins Capital Management Inc. now owns 159,600 shares of the biotechnology company's stock valued at $557,000 after acquiring an additional 113,000 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Codexis by 82.4% in the second quarter. AQR Capital Management LLC now owns 237,272 shares of the biotechnology company's stock valued at $736,000 after acquiring an additional 107,205 shares during the period. 78.54% of the stock is owned by institutional investors and hedge funds.

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.