Codexis (NASDAQ:CDXS) Share Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• Codexis shares crossed above its 200-day moving average (200‑day MA $1.77), trading as high as $2.64 and last at $2.41 on ~1.39M shares, signaling a technical breakout that may attract momentum buyers.
• Analyst sentiment is mixed — Cantor Fitzgerald rates CDXS overweight while Weiss maintains a sell, leaving an average rating of Hold and an average target price of $5.00.
• Operationally the company beat the quarter (EPS $0.11 vs. $0.01 est.; revenue $38.92M vs. $35.83M) but remains unprofitable with a negative net margin (~62.5%) and negative return on equity, market cap about $219M.

Codexis, Inc. (NASDAQ:CDXS - Get Free Report) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $1.77 and traded as high as $2.64. Codexis shares last traded at $2.41, with a volume of 1,390,309 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CDXS. Cantor Fitzgerald restated an "overweight" rating on shares of Codexis in a research note on Thursday, March 12th. Wall Street Zen upgraded shares of Codexis from a "strong sell" rating to a "hold" rating in a research note on Saturday, March 14th. Weiss Ratings restated a "sell (e+)" rating on shares of Codexis in a research note on Wednesday, January 21st. Finally, Stifel Nicolaus set a $5.00 target price on shares of Codexis in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $5.00.

Codexis Stock Performance

The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.75 and a current ratio of 3.82. The company has a market capitalization of $219.00 million, a P/E ratio of -4.63 and a beta of 2.08. The business's fifty day simple moving average is $1.60 and its 200-day simple moving average is $1.77.

Codexis (NASDAQ:CDXS - Get Free Report) last announced its quarterly earnings results on Wednesday, March 11th. The biotechnology company reported $0.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.10. The company had revenue of $38.92 million for the quarter, compared to the consensus estimate of $35.83 million. Codexis had a negative net margin of 62.47% and a negative return on equity of 90.51%. As a group, equities analysts anticipate that Codexis, Inc. will post -0.35 earnings per share for the current fiscal year.

Institutional Trading of Codexis

A number of institutional investors and hedge funds have recently bought and sold shares of CDXS. Royal Bank of Canada increased its holdings in Codexis by 24.9% in the 1st quarter. Royal Bank of Canada now owns 437,126 shares of the biotechnology company's stock valued at $1,176,000 after acquiring an additional 87,044 shares during the last quarter. Geode Capital Management LLC increased its holdings in Codexis by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,977,869 shares of the biotechnology company's stock valued at $4,827,000 after acquiring an additional 52,588 shares during the last quarter. Rhumbline Advisers increased its holdings in Codexis by 25.9% in the 2nd quarter. Rhumbline Advisers now owns 135,556 shares of the biotechnology company's stock valued at $331,000 after acquiring an additional 27,897 shares during the last quarter. XTX Topco Ltd bought a new stake in Codexis in the 2nd quarter valued at $116,000. Finally, Invesco Ltd. increased its holdings in Codexis by 42.4% in the 2nd quarter. Invesco Ltd. now owns 96,078 shares of the biotechnology company's stock valued at $234,000 after acquiring an additional 28,631 shares during the last quarter. 78.54% of the stock is currently owned by institutional investors.

About Codexis

Codexis, Inc, headquartered in Redwood City, California, is a leading protein engineering company focused on the development of innovative enzyme solutions for pharmaceutical, food and beverage, and specialty chemical applications. The company's proprietary directed evolution platform, CodeEvolver®, enables the rapid identification and optimization of enzymes with enhanced activity, selectivity and stability. By leveraging this technology, Codexis provides custom biocatalysts designed to improve manufacturing efficiency and reduce environmental impact.

Since its founding in 2002, Codexis has expanded its capabilities from early-stage research to commercial-scale production.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.