Short Interest in Codexis, Inc. (NASDAQ:CDXS) Increases By 17.3%

Codexis, Inc. (NASDAQ:CDXS) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 2,300,000 shares, an increase of 17.3% from the August 15th total of 1,960,000 shares. Based on an average trading volume of 378,100 shares, the short-interest ratio is presently 6.1 days.

Codexis Price Performance

CDXS stock traded up $0.31 during trading on Tuesday, hitting $3.16. 4,238,403 shares of the company’s stock traded hands, compared to its average volume of 496,103. The business has a fifty day simple moving average of $3.11 and a 200 day simple moving average of $3.21. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.92 and a current ratio of 2.99. The stock has a market capitalization of $222.96 million, a price-to-earnings ratio of -3.40 and a beta of 2.07. Codexis has a 52 week low of $1.45 and a 52 week high of $4.91.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The company had revenue of $7.98 million for the quarter, compared to the consensus estimate of $7.64 million. Codexis had a negative return on equity of 64.06% and a negative net margin of 125.41%. During the same period in the previous year, the firm earned ($0.17) earnings per share. As a group, research analysts expect that Codexis will post -0.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CDXS has been the topic of several recent analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 target price on shares of Codexis in a research note on Thursday, August 29th. Jefferies Financial Group assumed coverage on shares of Codexis in a report on Monday, June 3rd. They issued a “buy” rating and a $5.00 target price on the stock. Finally, Benchmark cut shares of Codexis from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Codexis has an average rating of “Hold” and a consensus price target of $8.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CDXS. GSA Capital Partners LLP grew its holdings in Codexis by 101.2% during the 4th quarter. GSA Capital Partners LLP now owns 837,036 shares of the biotechnology company’s stock valued at $2,553,000 after purchasing an additional 420,977 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Codexis by 3.9% in the fourth quarter. Private Advisor Group LLC now owns 189,486 shares of the biotechnology company’s stock worth $578,000 after buying an additional 7,065 shares during the period. Opaleye Management Inc. lifted its stake in shares of Codexis by 172.2% during the 4th quarter. Opaleye Management Inc. now owns 3,045,525 shares of the biotechnology company’s stock worth $9,289,000 after acquiring an additional 1,926,625 shares during the last quarter. Baillie Gifford & Co. grew its position in Codexis by 0.8% in the 1st quarter. Baillie Gifford & Co. now owns 3,445,309 shares of the biotechnology company’s stock valued at $12,024,000 after acquiring an additional 26,216 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Codexis in the 1st quarter valued at $97,000. 78.54% of the stock is owned by hedge funds and other institutional investors.

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.