Calyxt (NASDAQ:CLXT) Raised to Buy at Zacks Investment Research

Calyxt (NASDAQ:CLXTGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “Calyxt is a plant-based synthetic biotechnology company. The Company leverages its proprietary PlantSpring (TM) technology platform to engineer innovative materials and products for its customers to help them meet their sustainability goals. Calyxt’s diversified offerings are primarily delivered through its proprietary BioFactory (TM) production system. “

Separately, Canaccord Genuity Group reduced their price target on shares of Calyxt from $6.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, March 4th.

Shares of CLXT traded down $0.04 during mid-day trading on Tuesday, hitting $0.29. The company had a trading volume of 1,170,101 shares, compared to its average volume of 415,616. The business’s 50-day simple moving average is $0.81 and its 200-day simple moving average is $1.79. The company has a quick ratio of 3.13, a current ratio of 3.13 and a debt-to-equity ratio of 1.24. Calyxt has a 1-year low of $0.28 and a 1-year high of $5.42. The stock has a market cap of $12.19 million, a PE ratio of -0.45 and a beta of 2.12.

Calyxt (NASDAQ:CLXTGet Rating) last released its earnings results on Thursday, May 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.03. Calyxt had a negative net margin of 114.68% and a negative return on equity of 174.13%. During the same period in the previous year, the firm earned ($0.24) EPS. On average, sell-side analysts expect that Calyxt will post -0.59 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Morgan Stanley raised its stake in shares of Calyxt by 30.7% during the first quarter. Morgan Stanley now owns 15,512 shares of the company’s stock valued at $93,000 after purchasing an additional 3,646 shares during the period. First Manhattan Co. increased its stake in shares of Calyxt by 100.0% in the third quarter. First Manhattan Co. now owns 16,000 shares of the company’s stock worth $53,000 after buying an additional 8,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Calyxt by 85.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 24,798 shares of the company’s stock worth $84,000 after buying an additional 11,396 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Calyxt by 99.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 24,980 shares of the company’s stock worth $53,000 after buying an additional 12,441 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Calyxt by 34.7% in the third quarter. Marshall Wace LLP now owns 63,479 shares of the company’s stock worth $215,000 after buying an additional 16,365 shares during the last quarter. Institutional investors own 22.98% of the company’s stock.

About Calyxt (Get Rating)

Calyxt, Inc, a synthetic biology company, engages in delivering plant-based solutions primarily to the agriculture end market in the United States. The company is involved in the development of improved digestibility alfalfa; hemp; and wheat with a higher fiber content. It has a commercialization agreement with S&W Seed Company for the exclusive license of an improved quality alfalfa seed in the United States and internationally.

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