Codexis (NASDAQ:CDXS) Shares Cross Above 200 Day Moving Average of $2.70

Codexis, Inc. (NASDAQ:CDXS)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.70 and traded as high as $2.90. Codexis shares last traded at $2.80, with a volume of 615,947 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on CDXS shares. StockNews.com raised shares of Codexis to a “sell” rating in a research report on Tuesday, March 5th. Benchmark upgraded Codexis from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $6.80.

Codexis Stock Up 1.4 %

The business has a 50-day moving average price of $3.33 and a 200-day moving average price of $2.70. The firm has a market capitalization of $196.84 million, a P/E ratio of -2.52 and a beta of 2.01.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.18. The firm had revenue of $26.56 million for the quarter, compared to analyst estimates of $24.73 million. Codexis had a negative net margin of 108.69% and a negative return on equity of 47.58%. As a group, sell-side analysts forecast that Codexis, Inc. will post -0.6 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDXS. FMR LLC grew its stake in shares of Codexis by 153.7% in the 3rd quarter. FMR LLC now owns 4,335,580 shares of the biotechnology company’s stock valued at $8,194,000 after purchasing an additional 2,626,400 shares during the period. Opaleye Management Inc. grew its position in Codexis by 172.2% in the fourth quarter. Opaleye Management Inc. now owns 3,045,525 shares of the biotechnology company’s stock valued at $9,289,000 after acquiring an additional 1,926,625 shares during the period. Ameriprise Financial Inc. increased its position in shares of Codexis by 153.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,787,642 shares of the biotechnology company’s stock worth $3,379,000 after purchasing an additional 1,081,197 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Codexis by 156.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,753,443 shares of the biotechnology company’s stock valued at $3,314,000 after buying an additional 1,071,002 shares in the last quarter. Finally, Millennium Management LLC bought a new stake in Codexis during the second quarter worth about $9,661,000. Institutional investors own 78.54% of the company’s stock.

About Codexis

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.