Codexis (NASDAQ:CDXS) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Codexis, Inc. (NASDAQ:CDXS) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.69 and traded as high as $4.57. Codexis shares last traded at $4.52, with a volume of 727,423 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CDXS. Benchmark reiterated a “hold” rating on shares of Codexis in a report on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price objective on shares of Codexis in a research note on Friday, November 22nd.

Codexis Stock Performance

The company has a market capitalization of $396.31 million, a P/E ratio of -5.60 and a beta of 2.13. The stock’s fifty day moving average price is $4.75 and its 200-day moving average price is $3.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.15 and a current ratio of 3.21.

Codexis (NASDAQ:CDXS) last released its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.04). Codexis had a negative net margin of 96.35% and a negative return on equity of 71.56%. The business had revenue of $12.83 million during the quarter, compared to the consensus estimate of $11.64 million. During the same quarter in the prior year, the company earned ($0.26) EPS. As a group, research analysts anticipate that Codexis, Inc. will post -0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Codexis

Several hedge funds have recently added to or reduced their stakes in CDXS. Geode Capital Management LLC raised its position in shares of Codexis by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,644,039 shares of the biotechnology company’s stock valued at $5,065,000 after purchasing an additional 11,082 shares during the period. State Street Corp raised its holdings in Codexis by 2.7% in the 3rd quarter. State Street Corp now owns 1,551,411 shares of the biotechnology company’s stock valued at $4,778,000 after acquiring an additional 41,480 shares during the period. Assenagon Asset Management S.A. raised its holdings in Codexis by 23.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,103,442 shares of the biotechnology company’s stock valued at $3,399,000 after acquiring an additional 209,207 shares during the period. Barclays PLC lifted its position in Codexis by 51.1% during the third quarter. Barclays PLC now owns 207,628 shares of the biotechnology company’s stock worth $640,000 after acquiring an additional 70,255 shares during the last quarter. Finally, abrdn plc boosted its holdings in shares of Codexis by 62.5% during the third quarter. abrdn plc now owns 800,410 shares of the biotechnology company’s stock worth $2,465,000 after acquiring an additional 307,762 shares during the period. Institutional investors and hedge funds 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.