Codexis (NASDAQ:CDXS) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

Codexis, Inc. (NASDAQ:CDXS) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.88 and traded as high as $2.64. Codexis shares last traded at $2.57, with a volume of 1,748,133 shares trading hands.

Wall Street Analysts Forecast Growth

CDXS has been the topic of several recent analyst reports. Stifel Nicolaus set a $5.00 target price on Codexis in a report on Thursday, March 12th. Weiss Ratings lowered Codexis from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 22nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Codexis in a research report on Wednesday. Finally, Wall Street Zen cut Codexis from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.00.

Codexis Stock Up 3.6%

The stock has a fifty day moving average of $2.56 and a 200-day moving average of $1.88. The firm has a market capitalization of $233.61 million, a price-to-earnings ratio of -6.95 and a beta of 2.48. The company has a current ratio of 5.36, a quick ratio of 5.23 and a debt-to-equity ratio of 0.94.

Codexis (NASDAQ:CDXS) last announced its earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. Codexis had a negative return on equity of 68.09% and a negative net margin of 40.97%.The business had revenue of $15.25 million during the quarter, compared to the consensus estimate of $14.53 million. As a group, sell-side analysts expect that Codexis, Inc. will post -0.36 EPS for the current year.

Institutional Trading of Codexis

Hedge funds have recently bought and sold shares of the company. Aberdeen Group plc raised its stake in Codexis by 94.7% during the 4th quarter. Aberdeen Group plc now owns 7,966,498 shares of the biotechnology company’s stock valued at $12,985,000 after purchasing an additional 3,874,436 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of Codexis in the third quarter worth $1,312,000. Assenagon Asset Management S.A. boosted its position in shares of Codexis by 142.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 566,547 shares of the biotechnology company’s stock worth $923,000 after buying an additional 332,594 shares during the period. Perkins Capital Management Inc. grew its holdings in shares of Codexis by 72.1% during the fourth quarter. Perkins Capital Management Inc. now owns 529,500 shares of the biotechnology company’s stock valued at $863,000 after buying an additional 221,800 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. grew its holdings in shares of Codexis by 304.1% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 2,568,359 shares of the biotechnology company’s stock valued at $4,186,000 after buying an additional 1,932,814 shares in the last quarter. 78.54% of the stock is owned by hedge funds and other institutional investors.

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.