Codexis (NASDAQ:CDXS) Downgraded to “Hold” at Benchmark

Benchmark cut shares of Codexis (NASDAQ:CDXS) from a buy rating to a hold rating in a research note published on Tuesday, Marketbeat.com reports.

Several other brokerages also recently commented on CDXS. Stifel Nicolaus dropped their price objective on shares of Codexis from $9.00 to $5.00 and set a buy rating for the company in a research note on Monday, August 14th. Stephens reissued an overweight rating and set a $6.00 price objective on shares of Codexis in a report on Friday, July 21st. StockNews.com cut Codexis from a hold rating to a sell rating in a report on Monday. Piper Sandler dropped their target price on Codexis from $14.00 to $10.00 and set an overweight rating for the company in a research report on Monday. Finally, TD Cowen cut Codexis from an outperform rating to a market perform rating and reduced their price target for the stock from $21.00 to $4.00 in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Codexis has a consensus rating of Hold and an average price target of $7.17.

Codexis Price Performance

NASDAQ CDXS opened at $1.74 on Tuesday. The business has a fifty day moving average price of $1.80 and a two-hundred day moving average price of $2.46. The stock has a market capitalization of $121.45 million, a PE ratio of -2.05 and a beta of 1.75. Codexis has a fifty-two week low of $1.45 and a fifty-two week high of $6.98.

Institutional Investors Weigh In On Codexis

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new stake in Codexis in the first quarter valued at approximately $33,000. Tower Research Capital LLC TRC lifted its position in shares of Codexis by 133.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,007 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 3,433 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Codexis by 156.6% in the 4th quarter. Wells Fargo & Company MN now owns 6,276 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 3,830 shares during the last quarter. US Bancorp DE increased its position in shares of Codexis by 517.5% during the first quarter. US Bancorp DE now owns 8,380 shares of the biotechnology company’s stock worth $172,000 after buying an additional 7,023 shares during the period. Finally, Captrust Financial Advisors bought a new position in Codexis during the second quarter worth $29,000. Institutional investors and hedge funds own 87.94% of the company’s stock.

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; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides biocatalyst screening and protein engineering services.