Codexis, Inc. (NASDAQ:CDXS) Sees Significant Increase in Short Interest

Codexis, Inc. (NASDAQ:CDXS) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 2,290,000 shares, an increase of 20.5% from the December 15th total of 1,900,000 shares. Based on an average daily trading volume, of 668,900 shares, the short-interest ratio is presently 3.4 days.

Codexis Stock Performance

Codexis stock traded up $0.08 during midday trading on Friday, hitting $5.00. The stock had a trading volume of 638,754 shares, compared to its average volume of 695,149. Codexis has a 52-week low of $2.53 and a 52-week high of $6.08. The company has a market capitalization of $406.90 million, a PE ratio of -5.75 and a beta of 2.13. The firm’s fifty day moving average is $4.80 and its two-hundred day moving average is $3.73. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.39.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.04). Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. The firm had revenue of $12.83 million during the quarter, compared to analysts’ expectations of $11.64 million. During the same period last year, the company earned ($0.26) earnings per share. On average, research analysts forecast that Codexis will post -0.77 EPS for the current year.

Institutional Trading of Codexis

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Codexis by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,644,039 shares of the biotechnology company’s stock valued at $5,065,000 after buying an additional 11,082 shares in the last quarter. State Street Corp boosted its stake in Codexis by 2.7% during the third quarter. State Street Corp now owns 1,551,411 shares of the biotechnology company’s stock valued at $4,778,000 after buying an additional 41,480 shares during the last quarter. Barclays PLC grew its holdings in Codexis by 51.1% during the 3rd quarter. Barclays PLC now owns 207,628 shares of the biotechnology company’s stock valued at $640,000 after buying an additional 70,255 shares in the last quarter. Assenagon Asset Management S.A. increased its stake 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 worth $3,399,000 after acquiring an additional 209,207 shares during the last quarter. Finally, Tallon Kerry Patrick purchased a new stake in shares of Codexis during the 4th quarter worth approximately $2,018,000. Institutional investors own 78.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on CDXS shares. Benchmark reissued a “hold” rating on shares of Codexis in a research report on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 target price on shares of Codexis in a research report on Friday, November 22nd.

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.