Codexis, Inc. (NASDAQ:CDXS) shares were down 10.2% during trading on Wednesday . The stock traded as low as $11.35 and last traded at $11.45. Approximately 707,600 shares changed hands during trading, an increase of 108% from the average daily volume of 339,622 shares. The stock had previously closed at $12.75.
Several research analysts have commented on CDXS shares. BidaskClub downgraded shares of Codexis from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Zacks Investment Research downgraded shares of Codexis from a “hold” rating to a “sell” rating in a research note on Friday, February 9th. Finally, HC Wainwright set a $12.00 price target on shares of Codexis and gave the stock a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Codexis currently has an average rating of “Buy” and a consensus target price of $9.75.
The stock has a market cap of $618.84, a P/E ratio of -22.90 and a beta of -1.60.
Codexis (NASDAQ:CDXS) last posted its quarterly earnings results on Thursday, March 8th. The biotechnology company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.03). Codexis had a negative return on equity of 107.12% and a negative net margin of 45.97%. The business had revenue of $21.70 million for the quarter, compared to analysts’ expectations of $22.97 million. During the same period last year, the business posted ($0.07) earnings per share. The company’s revenue was up 117.0% compared to the same quarter last year. research analysts forecast that Codexis, Inc. will post -0.18 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the company. Thompson Davis & CO. Inc. grew its holdings in shares of Codexis by 1,753.5% in the fourth quarter. Thompson Davis & CO. Inc. now owns 18,535 shares of the biotechnology company’s stock worth $155,000 after purchasing an additional 17,535 shares during the last quarter. Burney Co. bought a new position in shares of Codexis in the fourth quarter worth approximately $167,000. MetLife Investment Advisors LLC bought a new position in shares of Codexis in the fourth quarter worth approximately $179,000. Nationwide Fund Advisors grew its holdings in shares of Codexis by 15.7% in the second quarter. Nationwide Fund Advisors now owns 21,568 shares of the biotechnology company’s stock worth $118,000 after purchasing an additional 2,928 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Codexis in the fourth quarter worth approximately $202,000. Hedge funds and other institutional investors own 70.97% of the company’s stock.
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Codexis, Inc is a developer of biocatalysts for the pharmaceutical and fine chemicals markets. The Company’s CodeEvolver protein engineering technology platform, which introduces genetic mutations into genes in order to give rise to changes in the enzymes that they produce, overcomes many of the limitations, allowing customers to evolve and optimize biocatalysts to perform specific and desired chemical reactions at commercial scale.
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