Codexis (NASDAQ:CDXS) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Codexis, Inc. (NASDAQ:CDXS) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.98 and traded as high as $2.23. Codexis shares last traded at $2.21, with a volume of 495,022 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CDXS shares. Weiss Ratings downgraded Codexis from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 22nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Codexis in a research note on Wednesday, June 17th. Finally, Wall Street Zen lowered Codexis from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $5.00.

Codexis Stock Performance

The firm’s 50 day moving average price is $2.51 and its 200-day moving average price is $1.98. The firm has a market cap of $200.88 million, a price-to-earnings ratio of -5.97 and a beta of 2.50. The company has a debt-to-equity ratio of 0.94, a current ratio of 5.36 and a quick ratio of 5.23.

Codexis (NASDAQ:CDXS) last released 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. The firm had revenue of $15.25 million during the quarter, compared to analysts’ expectations of $14.53 million. Codexis had a negative net margin of 40.97% and a negative return on equity of 68.09%. On average, analysts anticipate that Codexis, Inc. will post -0.36 earnings per share for the current year.

Institutional Inflows and Outflows

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

About Codexis

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.