Codexis, Inc. (NASDAQ:CDXS) Short Interest Down 5.7% in September

Codexis, Inc. (NASDAQ:CDXS) saw a large drop in short interest in September. As of September 15th, there was short interest totalling 2,170,000 shares, a drop of 5.7% from the August 31st total of 2,300,000 shares. Based on an average trading volume of 564,200 shares, the days-to-cover ratio is currently 3.8 days.

Codexis Trading Down 1.3 %

Codexis stock opened at $3.04 on Wednesday. Codexis has a 52-week low of $1.51 and a 52-week high of $4.91. The company has a quick ratio of 2.92, a current ratio of 2.99 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $214.50 million, a price-to-earnings ratio of -3.27 and a beta of 2.07. The firm has a 50-day moving average price of $3.04 and a two-hundred day moving average price of $3.16.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Codexis had a negative return on equity of 64.06% and a negative net margin of 125.41%. The business had revenue of $7.98 million for the quarter, compared to analyst estimates of $7.64 million. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. Sell-side analysts expect that Codexis will post -0.75 earnings per share for the current year.

Insider Transactions at Codexis

In other news, major shareholder Opaleye Management Inc. purchased 45,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were acquired at an average cost of $2.94 per share, with a total value of $132,300.00. Following the transaction, the insider now owns 8,435,000 shares in the company, valued at approximately $24,798,900. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders bought 1,166,000 shares of company stock worth $3,514,910. 2.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Algert Global LLC increased its holdings in shares of Codexis by 17.1% during the second quarter. Algert Global LLC now owns 41,556 shares of the biotechnology company’s stock valued at $129,000 after purchasing an additional 6,069 shares during the period. AQR Capital Management LLC increased its stake in Codexis by 82.4% during the 2nd quarter. AQR Capital Management LLC now owns 237,272 shares of the biotechnology company’s stock valued at $736,000 after buying an additional 107,205 shares during the period. Squarepoint Ops LLC increased its stake in Codexis by 113.8% during the 2nd quarter. Squarepoint Ops LLC now owns 74,531 shares of the biotechnology company’s stock valued at $231,000 after buying an additional 39,664 shares during the period. Marshall Wace LLP bought a new stake in shares of Codexis during the 2nd quarter worth about $89,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Codexis by 34.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 340,762 shares of the biotechnology company’s stock worth $1,056,000 after acquiring an additional 87,457 shares during the period. Institutional investors and hedge funds own 78.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CDXS shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price objective on shares of Codexis in a research note on Friday, September 20th. Benchmark downgraded Codexis from a “buy” rating to a “hold” rating in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.75.

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.