Codexis, Inc. (NASDAQ:CDXS) Short Interest Down 16.6% in August

Codexis, Inc. (NASDAQ:CDXS) saw a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 2,360,000 shares, a drop of 16.6% from the August 15th total of 2,830,000 shares. Based on an average trading volume of 990,400 shares, the short-interest ratio is currently 2.4 days.

Codexis Stock Down 6.7 %

Shares of NASDAQ:CDXS traded down $0.13 during trading on Monday, reaching $1.81. 683,854 shares of the company’s stock traded hands, compared to its average volume of 878,233. Codexis has a fifty-two week low of $1.58 and a fifty-two week high of $6.98. The firm has a market cap of $126.34 million, a PE ratio of -2.13 and a beta of 1.79. The company has a 50-day simple moving average of $2.42 and a 200-day simple moving average of $3.06.

Codexis (NASDAQ:CDXS) last posted its quarterly earnings data on Thursday, August 3rd. The biotechnology company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.04. Codexis had a negative return on equity of 41.33% and a negative net margin of 57.22%. The company had revenue of $21.32 million for the quarter, compared to analysts’ expectations of $19.83 million. During the same period in the previous year, the firm posted ($0.04) EPS. Codexis’s revenue was down 44.5% compared to the same quarter last year. On average, equities research analysts forecast that Codexis will post -0.95 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CDXS. TD Cowen lowered Codexis from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $21.00 to $4.00 in a research note on Monday, August 7th. Stifel Nicolaus cut their price target on Codexis from $9.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, August 14th. Stephens reaffirmed an “overweight” rating and set a $6.00 price target on shares of Codexis in a research report on Friday, July 21st. Benchmark reaffirmed a “buy” rating and set a $9.00 price target on shares of Codexis in a research report on Friday, September 1st. Finally, StockNews.com raised Codexis from a “sell” rating to a “hold” rating in a research report on Monday, September 11th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $7.83.

Institutional Investors Weigh In On Codexis

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in Codexis by 9.1% in the 2nd quarter. BlackRock Inc. now owns 6,603,102 shares of the biotechnology company’s stock worth $18,489,000 after buying an additional 553,346 shares during the last quarter. Baillie Gifford & Co. lifted its stake in Codexis by 0.5% in the 2nd quarter. Baillie Gifford & Co. now owns 6,140,498 shares of the biotechnology company’s stock worth $17,193,000 after purchasing an additional 33,079 shares in the last quarter. ARK Investment Management LLC lifted its stake in Codexis by 9.0% in the 1st quarter. ARK Investment Management LLC now owns 4,295,586 shares of the biotechnology company’s stock worth $17,784,000 after purchasing an additional 353,601 shares in the last quarter. Vanguard Group Inc. lifted its stake in Codexis by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 3,632,362 shares of the biotechnology company’s stock worth $74,899,000 after purchasing an additional 231,872 shares in the last quarter. Finally, Nantahala Capital Management LLC lifted its stake in Codexis by 5.3% in the 1st quarter. Nantahala Capital Management LLC now owns 3,383,049 shares of the biotechnology company’s stock worth $69,758,000 after purchasing an additional 168,952 shares in the last quarter. 87.94% of the stock is currently owned by institutional investors and hedge funds.

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