StockNews.com Upgrades Codexis (NASDAQ:CDXS) to Hold

Codexis (NASDAQ:CDXSGet Rating) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

Separately, HC Wainwright decreased their target price on shares of Codexis from $25.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, November 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.67.

Codexis Stock Performance

NASDAQ:CDXS opened at $5.44 on Wednesday. The company has a market capitalization of $357.35 million, a PE ratio of -11.33 and a beta of 1.49. The company has a 50 day simple moving average of $5.82 and a two-hundred day simple moving average of $7.97. Codexis has a fifty-two week low of $4.81 and a fifty-two week high of $39.21.

Insider Transactions at Codexis

In other news, Director John J. Nicols sold 35,716 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $5.53, for a total transaction of $197,509.48. Following the completion of the sale, the director now owns 943,106 shares of the company’s stock, valued at approximately $5,215,376.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On Codexis

Large investors have recently modified their holdings of the company. Strs Ohio lifted its holdings in shares of Codexis by 65.2% in the 2nd quarter. Strs Ohio now owns 10,900 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 4,300 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Codexis by 44.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,018,847 shares of the biotechnology company’s stock worth $31,576,000 after purchasing an additional 926,159 shares in the last quarter. AlphaCrest Capital Management LLC lifted its stake in Codexis by 15.3% during the 1st quarter. AlphaCrest Capital Management LLC now owns 25,027 shares of the biotechnology company’s stock valued at $516,000 after acquiring an additional 3,321 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its stake in Codexis by 17.7% during the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 751,264 shares of the biotechnology company’s stock valued at $7,858,000 after acquiring an additional 113,235 shares in the last quarter. Finally, ARK Investment Management LLC lifted its stake in Codexis by 13.8% during the 2nd quarter. ARK Investment Management LLC now owns 4,486,573 shares of the biotechnology company’s stock valued at $47,917,000 after acquiring an additional 543,936 shares in the last quarter. 99.04% of the stock is currently owned by institutional investors.

Codexis Company Profile

(Get Rating)

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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