Short Interest in Codexis, Inc. (NASDAQ:CDXS) Decreases By 11.7%

Codexis, Inc. (NASDAQ:CDXS) saw a significant decline in short interest in May. As of May 31st, there was short interest totalling 2,030,000 shares, a decline of 11.7% from the May 15th total of 2,300,000 shares. Based on an average trading volume of 459,300 shares, the short-interest ratio is currently 4.4 days.

Codexis Stock Down 2.9 %

Shares of Codexis stock traded down $0.09 during trading on Friday, reaching $3.05. The company’s stock had a trading volume of 159,452 shares, compared to its average volume of 351,997. Codexis has a 52-week low of $1.45 and a 52-week high of $4.91. The firm’s 50-day moving average is $3.25 and its two-hundred day moving average is $3.11. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.71 and a quick ratio of 3.63.

Codexis (NASDAQ:CDXS) last posted its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. Codexis had a negative net margin of 87.73% and a negative return on equity of 41.76%. The company had revenue of $17.07 million during the quarter, compared to analyst estimates of $14.06 million. As a group, research analysts predict that Codexis will post -0.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Benchmark reaffirmed a “buy” rating and set a $9.00 price objective on shares of Codexis in a research note on Friday, May 3rd. Cantor Fitzgerald assumed coverage on shares of Codexis in a research note on Thursday, May 30th. They issued an “overweight” rating and a $11.00 price target for the company. Jefferies Financial Group assumed coverage on shares of Codexis in a research note on Monday, June 3rd. They issued a “buy” rating and a $5.00 price target for the company. Finally, StockNews.com raised shares of Codexis to a “sell” rating in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $7.14.

Institutional Investors Weigh In On Codexis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC raised its holdings in Codexis by 153.7% during the 3rd quarter. FMR LLC now owns 4,335,580 shares of the biotechnology company’s stock valued at $8,194,000 after buying an additional 2,626,400 shares during the last quarter. Vanguard Group Inc. raised its holdings in Codexis by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 4,258,201 shares of the biotechnology company’s stock worth $14,861,000 after purchasing an additional 129,773 shares in the last quarter. Baillie Gifford & Co. raised its holdings in Codexis by 0.8% in the 1st quarter. Baillie Gifford & Co. now owns 3,445,309 shares of the biotechnology company’s stock worth $12,024,000 after purchasing an additional 26,216 shares in the last quarter. Opaleye Management Inc. raised its holdings in Codexis by 2.4% in the 1st quarter. Opaleye Management Inc. now owns 3,120,000 shares of the biotechnology company’s stock worth $10,889,000 after purchasing an additional 74,475 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Codexis by 25.8% in the 3rd quarter. Acadian Asset Management LLC now owns 949,916 shares of the biotechnology company’s stock worth $1,793,000 after purchasing an additional 194,898 shares in the last quarter. 78.54% of the stock is currently owned by institutional investors.

Codexis Company Profile

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.