Codexis (NASDAQ:CDXS) Stock Price Up 8.4%

Codexis, Inc. (NASDAQ:CDXSGet Rating) rose 8.4% on Friday . The company traded as high as $9.07 and last traded at $9.05. Approximately 17,087 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 768,985 shares. The stock had previously closed at $8.35.

A number of equities analysts have issued reports on the company. Cowen assumed coverage on Codexis in a research report on Wednesday, March 2nd. They issued a “buy” rating and a $39.00 target price on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $38.00 target price on shares of Codexis in a research report on Friday, February 25th. StockNews.com began coverage on Codexis in a research report on Thursday, March 31st. They set a “sell” rating on the stock. Finally, TheStreet lowered Codexis from a “c-” rating to a “d” rating in a research report on Thursday, February 24th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $34.20.

The firm has a market capitalization of $598.15 million, a PE ratio of -27.42 and a beta of 1.98. The firm has a fifty day moving average price of $12.16 and a 200 day moving average price of $19.66.

Codexis (NASDAQ:CDXSGet Rating) last posted its quarterly earnings results on Thursday, May 5th. The biotechnology company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.05. The company had revenue of $35.34 million during the quarter, compared to the consensus estimate of $28.58 million. Codexis had a negative return on equity of 12.56% and a negative net margin of 16.85%. The business’s quarterly revenue was up 96.0% on a year-over-year basis. During the same period last year, the business earned ($0.14) EPS. On average, research analysts predict that Codexis, Inc. will post -0.41 earnings per share for the current fiscal year.

In other Codexis news, Director Dennis P. Wolf sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 23rd. The stock was sold at an average price of $20.49, for a total value of $81,960.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John J. Nicols sold 38,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The shares were sold at an average price of $10.31, for a total value of $396,935.00. Following the completion of the sale, the chief executive officer now directly owns 1,022,679 shares in the company, valued at approximately $10,543,820.49. The disclosure for this sale can be found here. Corporate insiders own 7.50% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CDXS. Teacher Retirement System of Texas grew its holdings in shares of Codexis by 21.3% during the 4th quarter. Teacher Retirement System of Texas now owns 11,284 shares of the biotechnology company’s stock worth $353,000 after purchasing an additional 1,982 shares in the last quarter. Granite Point Capital Management L.P. acquired a new stake in shares of Codexis during the 4th quarter worth approximately $782,000. EAM Global Investors LLC acquired a new stake in shares of Codexis during the 4th quarter worth approximately $1,477,000. Brown Advisory Inc. acquired a new stake in shares of Codexis during the 4th quarter worth approximately $332,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Codexis during the 4th quarter worth approximately $3,093,000.

About Codexis (NASDAQ:CDXS)

Codexis, Inc discovers, develops, and sells enzymes and other proteins. It offers biocatalyst products and services; intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides biocatalyst screening and protein engineering services.

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