Codexis (NASDAQ:CDXS) Share Price Passes Above Two Hundred Day Moving Average of $2.70

Shares of Codexis, Inc. (NASDAQ:CDXS) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Wall Street Analyst Weigh In

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

Codexis Price Performance

The firm has a 50-day moving average of $3.32 and a 200-day moving average of $2.70.

Codexis (NASDAQ:CDXS) last released its 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 the consensus estimate of $24.73 million. Codexis had a negative return on equity of 47.58% and a negative net margin of 108.69%. Research analysts predict that Codexis, Inc. will post -0.6 earnings per share for the current year.

Institutional Investors Weigh In On Codexis

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDXS. FMR LLC grew its position in Codexis by 153.7% during the 3rd quarter. FMR LLC now owns 4,335,580 shares of the biotechnology company’s stock worth $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% during the 4th quarter. Opaleye Management Inc. now owns 3,045,525 shares of the biotechnology company’s stock worth $9,289,000 after purchasing an additional 1,926,625 shares during the period. Ameriprise Financial Inc. grew its position in 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 during the period. Assenagon Asset Management S.A. boosted its stake in shares of Codexis by 156.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,753,443 shares of the biotechnology company’s stock worth $3,314,000 after acquiring an additional 1,071,002 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Codexis during the 2nd quarter worth about $9,661,000. 78.54% of the stock is owned by institutional investors and hedge funds.

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.