Codexis (NASDAQ:CDXS) Earns Hold Rating from Benchmark

Codexis (NASDAQ:CDXS - Get Free Report)'s stock had its "hold" rating restated by equities researchers at Benchmark in a research report issued to clients and investors on Monday, Benzinga reports.

Separately, Cantor Fitzgerald reissued an "overweight" rating and issued a $11.00 price objective on shares of Codexis in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Codexis currently has an average rating of "Hold" and a consensus price target of $8.75.

Codexis Stock Performance

Codexis stock traded down $0.01 during mid-day trading on Monday, hitting $3.49. 747,906 shares of the company's stock traded hands, compared to its average volume of 530,824. Codexis has a one year low of $1.51 and a one year high of $4.91. The company has a market cap of $247.55 million, a PE ratio of -4.01 and a beta of 2.07. The firm has a 50 day moving average price of $3.05 and a 200 day moving average price of $3.16. The company has a quick ratio of 2.92, a current ratio of 2.99 and a debt-to-equity ratio of 0.46.

Codexis (NASDAQ:CDXS - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $12.83 million during the quarter, compared to analyst estimates of $11.64 million. Codexis had a negative return on equity of 71.00% and a negative net margin of 96.35%. During the same period in the previous year, the company earned ($0.26) EPS. On average, equities analysts forecast that Codexis will post -0.75 EPS for the current year.

Insider Buying and Selling at Codexis

In related news, major shareholder Opaleye Management Inc. acquired 45,000 shares of Codexis stock in a transaction dated Monday, September 23rd. The stock was acquired at an average cost 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 in the company, valued at $24,798,900. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have purchased 1,166,000 shares of company stock valued at $3,514,910. Corporate insiders own 2.10% of the company's stock.

Institutional Trading of Codexis

Hedge funds have recently bought and sold shares of the company. Kent Lake Capital LLC purchased a new stake in shares of Codexis in the 1st quarter valued at approximately $2,197,000. abrdn plc boosted its position in shares of Codexis by 62.5% in the third 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 period. Platinum Investment Management Ltd. purchased a new position in shares of Codexis during the first quarter valued at $802,000. Assenagon Asset Management S.A. raised its position in 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 valued at $3,399,000 after buying an additional 209,207 shares during the period. Finally, Vanguard Group Inc. raised its position in Codexis by 3.1% during the first quarter. Vanguard Group Inc. now owns 4,258,201 shares of the biotechnology company's stock valued at $14,861,000 after buying an additional 129,773 shares during the period. 78.54% of the stock is owned by hedge funds and other institutional investors.

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.