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

Codexis, Inc. (NASDAQ:CDXS) was the target of a large decline in short interest during the month of 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 daily trading volume, of 459,300 shares, the days-to-cover ratio is presently 4.4 days.

Codexis Trading Down 8.4 %

Codexis stock traded down $0.25 during trading on Tuesday, reaching $2.73. The company had a trading volume of 398,019 shares, compared to its average volume of 524,541. Codexis has a 12-month low of $1.45 and a 12-month high of $4.91. The stock’s 50 day moving average price is $3.24 and its two-hundred day moving average price is $3.12. The firm has a market capitalization of $192.63 million, a price-to-earnings ratio of -2.95 and a beta of 2.10. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.63 and a current ratio of 3.71.

Codexis (NASDAQ:CDXS) last released its earnings results on Thursday, May 2nd. The biotechnology company reported ($0.16) earnings per share (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 firm had revenue of $17.07 million during the quarter, compared to the consensus estimate of $14.06 million. As a group, equities analysts expect that Codexis will post -0.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Codexis

Institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its stake in Codexis by 674.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,162 shares of the biotechnology company’s stock worth $46,000 after buying an additional 13,203 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in Codexis during the third quarter worth approximately $70,000. SG Americas Securities LLC grew its stake in Codexis by 19.1% during the fourth quarter. SG Americas Securities LLC now owns 31,442 shares of the biotechnology company’s stock worth $96,000 after buying an additional 5,050 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Codexis during the first quarter worth approximately $97,000. Finally, State Board of Administration of Florida Retirement System grew its stake in Codexis by 57.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock worth $99,000 after buying an additional 10,395 shares during the period. 78.54% of the stock is currently owned by hedge funds and other institutional investors.

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.