Codexis (NASDAQ:CDXS) Shares Pass Above Two Hundred Day Moving Average of $2.70

Codexis, Inc. (NASDAQ:CDXS) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.70 and traded as high as $2.90. Codexis shares last traded at $2.80, with a volume of 615,947 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. StockNews.com upgraded Codexis to a “sell” rating in a research report on Tuesday, March 5th. Benchmark upgraded shares of Codexis from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $6.80.

Codexis Stock Up 1.4 %

The stock’s 50 day moving average price is $3.33 and its 200-day moving average price is $2.70. The stock has a market capitalization of $196.84 million, a PE ratio of -2.52 and a beta of 2.01.

Codexis (NASDAQ:CDXS) last released its quarterly earnings data on Wednesday, February 28th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.18. The company had revenue of $26.56 million during the quarter, compared to analysts’ expectations of $24.73 million. Codexis had a negative net margin of 108.69% and a negative return on equity of 47.58%. As a group, sell-side analysts predict that Codexis, Inc. will post -0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Codexis

Institutional investors and hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN raised its holdings 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 in the last quarter. Captrust Financial Advisors purchased a new position in Codexis during the second quarter valued at approximately $29,000. Quantbot Technologies LP bought a new position in Codexis in the first quarter worth approximately $33,000. Sei Investments Co. purchased a new stake in Codexis during the fourth quarter worth $34,000. Finally, Wolverine Trading LLC bought a new stake in Codexis during the 4th quarter valued at $36,000. 78.54% of the stock is owned by 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.