Codexis (NASDAQ:CDXS) Upgraded by Wall Street Zen to Hold Rating

Key Points

• Codexis was upgraded from a "strong sell" to a "hold" rating by Wall Street Zen, reflecting a shift in analyst sentiment about the company's stock.
• The company's stock has recently experienced a decline of 2.9%, opening at $3.01 with a market capitalization of $271.71 million.
• Despite reporting better-than-expected earnings and revenue in its last quarter, Codexis showed a negative net margin of 113.67% and a negative return on equity of 105.83%.

Codexis (NASDAQ:CDXS - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "strong sell" rating to a "hold" rating in a report released on Saturday.

Codexis Stock Down 2.9%

CDXS stock opened at $3.01 on Friday. The stock has a market capitalization of $271.71 million, a P/E ratio of -3.63 and a beta of 2.54. The company has a debt-to-equity ratio of 0.71, a quick ratio of 3.64 and a current ratio of 5.82. Codexis has a one year low of $1.90 and a one year high of $6.08. The company has a 50 day moving average price of $2.72 and a two-hundred day moving average price of $2.82.

Codexis (NASDAQ:CDXS - Get Free Report) last released its earnings results on Wednesday, August 13th. The biotechnology company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.01. The firm had revenue of $15.33 million during the quarter, compared to analysts' expectations of $14.18 million. Codexis had a negative net margin of 113.67% and a negative return on equity of 105.83%. As a group, sell-side analysts expect that Codexis will post -0.77 EPS for the current year.

Institutional Trading of Codexis

Several institutional investors have recently made changes to their positions in CDXS. Integrity Alliance LLC. purchased a new stake in shares of Codexis during the 1st quarter valued at $30,000. Summit Investment Advisors Inc. grew its stake in shares of Codexis by 81.4% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,428 shares of the biotechnology company's stock valued at $40,000 after buying an additional 3,783 shares during the period. US Bancorp DE grew its stake in shares of Codexis by 11,125.0% during the 1st quarter. US Bancorp DE now owns 17,960 shares of the biotechnology company's stock valued at $48,000 after buying an additional 17,800 shares during the period. Elmwood Wealth Management Inc. purchased a new stake in shares of Codexis during the 2nd quarter valued at $53,000. Finally, Wolverine Trading LLC purchased a new stake in shares of Codexis during the 4th quarter valued at $56,000. 78.54% of the stock is owned by hedge funds and other institutional investors.

Codexis Company Profile

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.

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