Codexis (NASDAQ:CDXS) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Codexis, Inc. (NASDAQ:CDXS) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.91 and traded as high as $2.41. Codexis shares last traded at $2.39, with a volume of 2,385,947 shares traded.

Analyst Ratings Changes

A number of equities analysts recently issued reports on CDXS shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Codexis in a report on Wednesday, June 17th. Wall Street Zen cut shares of Codexis from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Weiss Ratings downgraded shares of Codexis from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, May 22nd. Finally, Stifel Nicolaus set a $5.00 target price on shares of Codexis in a report on Thursday, March 12th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Codexis has a consensus rating of “Hold” and a consensus target price of $5.00.

Codexis Price Performance

The stock has a 50-day moving average price of $2.56 and a 200 day moving average price of $1.91. The company has a debt-to-equity ratio of 0.94, a current ratio of 5.36 and a quick ratio of 5.23. The firm has a market cap of $217.25 million, a price-to-earnings ratio of -6.46 and a beta of 2.48.

Codexis (NASDAQ:CDXS) last posted its earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.01. The business had revenue of $15.25 million during the quarter, compared to the consensus estimate of $14.53 million. Codexis had a negative return on equity of 68.09% and a negative net margin of 40.97%. As a group, equities research analysts forecast that Codexis, Inc. will post -0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Codexis

Several large investors have recently modified their holdings of the company. Opaleye Management Inc. grew its position in shares of Codexis by 32.6% during the second quarter. Opaleye Management Inc. now owns 12,600,000 shares of the biotechnology company’s stock worth $30,744,000 after acquiring an additional 3,100,000 shares during the last quarter. Aberdeen Group plc boosted its stake in Codexis by 94.7% during the 4th quarter. Aberdeen Group plc now owns 7,966,498 shares of the biotechnology company’s stock worth $12,985,000 after purchasing an additional 3,874,436 shares during the period. Vanguard Group Inc. grew its position in Codexis by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 4,669,815 shares of the biotechnology company’s stock worth $11,394,000 after purchasing an additional 80,602 shares during the last quarter. Millennium Management LLC grew its position in Codexis by 3,376.5% during the 3rd quarter. Millennium Management LLC now owns 4,067,559 shares of the biotechnology company’s stock worth $9,925,000 after purchasing an additional 3,950,557 shares during the last quarter. Finally, Nantahala Capital Management LLC increased its stake in Codexis by 42.4% in the second quarter. Nantahala Capital Management LLC now owns 4,030,619 shares of the biotechnology company’s stock valued at $9,835,000 after purchasing an additional 1,200,000 shares during the period. 78.54% of the stock is owned by institutional investors and hedge funds.

About Codexis

Codexis, Inc, headquartered in Redwood City, California, is a leading protein engineering company focused on the development of innovative enzyme solutions for pharmaceutical, food and beverage, and specialty chemical applications. The company’s proprietary directed evolution platform, CodeEvolver®, enables the rapid identification and optimization of enzymes with enhanced activity, selectivity and stability. By leveraging this technology, Codexis provides custom biocatalysts designed to improve manufacturing efficiency and reduce environmental impact.

Since its founding in 2002, Codexis has expanded its capabilities from early-stage research to commercial-scale production.