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

Codexis, Inc. (NASDAQ:CDXS) was the target of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 4,570,000 shares, a growth of 50.8% from the February 28th total of 3,030,000 shares. Based on an average trading volume of 843,500 shares, the days-to-cover ratio is presently 5.4 days. Approximately 5.7% of the shares of the stock are sold short.

Institutional Investors Weigh In On Codexis

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CenterBook Partners LP purchased a new position in Codexis in the 4th quarter worth approximately $4,688,000. Tallon Kerry Patrick bought a new position in shares of Codexis in the fourth quarter worth approximately $2,018,000. Vanguard Group Inc. increased its stake in shares of Codexis by 7.5% in the fourth quarter. Vanguard Group Inc. now owns 4,463,801 shares of the biotechnology company’s stock worth $21,292,000 after buying an additional 311,082 shares during the period. Telemark Asset Management LLC raised its holdings in Codexis by 11.3% during the 4th quarter. Telemark Asset Management LLC now owns 3,000,000 shares of the biotechnology company’s stock valued at $14,310,000 after buying an additional 303,589 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in Codexis by 18.6% during the 4th quarter. Nuveen Asset Management LLC now owns 1,812,345 shares of the biotechnology company’s stock valued at $8,645,000 after buying an additional 283,760 shares during the last quarter. Institutional investors own 78.54% of the company’s stock.

Codexis Price Performance

Shares of Codexis stock traded down $0.12 on Monday, hitting $2.70. 506,852 shares of the company traded hands, compared to its average volume of 617,040. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.39. The firm’s 50-day simple moving average is $3.71 and its 200 day simple moving average is $3.95. Codexis has a 12-month low of $2.43 and a 12-month high of $6.08. The company has a market cap of $223.25 million, a P/E ratio of -3.11 and a beta of 2.12.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings data on Thursday, February 27th. The biotechnology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.09). The business had revenue of $21.46 million during the quarter, compared to the consensus estimate of $27.41 million. Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. Analysts expect that Codexis will post -0.77 earnings per share for the current fiscal year.

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.