Codexis (NASDAQ:CDXS) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Codexis, Inc. (NASDAQ:CDXS) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.91 and traded as high as $2.41. Codexis shares last traded at $2.39, with a volume of 2,385,947 shares.

Wall Street Analyst Weigh In

Several research firms have recently commented on CDXS. Cantor Fitzgerald restated an “overweight” rating on shares of Codexis in a report on Wednesday, June 17th. Wall Street Zen lowered Codexis from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Weiss Ratings lowered Codexis from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, May 22nd. Finally, Stifel Nicolaus set a $5.00 price objective on Codexis in a research report on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.00.

Codexis Price Performance

The company’s 50-day simple moving average is $2.56 and its 200 day simple moving average is $1.91. The company has a quick ratio of 5.23, a current ratio of 5.36 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $217.24 million, a price-to-earnings ratio of -6.46 and a beta of 2.48.

Codexis (NASDAQ:CDXS) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.01. The company had revenue of $15.25 million during the quarter, compared to the consensus estimate of $14.53 million. Codexis had a negative return on equity of 68.09% and a negative net margin of 40.97%. Equities research analysts forecast that Codexis, Inc. will post -0.36 EPS for the current year.

Hedge Funds Weigh In On Codexis

A number of institutional investors have recently modified their holdings of the company. Navalign LLC acquired a new stake in shares of Codexis in the fourth quarter worth $25,000. Victory Capital Management Inc. acquired a new position in Codexis in the 3rd quarter valued at $25,000. State of Wyoming acquired a new position in Codexis in the 2nd quarter valued at $25,000. CIBC Bancorp USA Inc. acquired a new position in Codexis in the 3rd quarter valued at $26,000. Finally, Crux Wealth Advisors bought a new position in Codexis in the 3rd quarter worth $33,000. Institutional investors own 78.54% of the company’s stock.

Codexis Company Profile

Codexis, Inc, headquartered in Redwood City, California, is a leading protein engineering company focused on the development of innovative enzyme solutions for pharmaceutical, food and beverage, and specialty chemical applications. The company’s proprietary directed evolution platform, CodeEvolver®, enables the rapid identification and optimization of enzymes with enhanced activity, selectivity and stability. By leveraging this technology, Codexis provides custom biocatalysts designed to improve manufacturing efficiency and reduce environmental impact.

Since its founding in 2002, Codexis has expanded its capabilities from early-stage research to commercial-scale production.