Short Interest in Codexis, Inc. (NASDAQ:CDXS) Grows By 26.2%

Codexis, Inc. (NASDAQ:CDXS) was the target of a significant growth in short interest in February. As of February 27th, there was short interest totaling 9,161,843 shares, a growth of 26.2% from the February 12th total of 7,258,793 shares. Approximately 10.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,071,941 shares, the days-to-cover ratio is presently 8.5 days. Based on an average daily trading volume, of 1,071,941 shares, the days-to-cover ratio is presently 8.5 days. Approximately 10.3% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Codexis from a “strong sell” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus set a $5.00 price objective on Codexis in a research note on Thursday. Weiss Ratings reissued a “sell (e+)” rating on shares of Codexis in a report on Wednesday, January 21st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Codexis in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $5.00.

Codexis Trading Down 5.8%

CDXS opened at $1.61 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 4.12 and a quick ratio of 4.02. The company’s 50 day simple moving average is $1.38 and its two-hundred day simple moving average is $1.88. Codexis has a 1-year low of $0.96 and a 1-year high of $3.87. The firm has a market capitalization of $145.42 million, a price-to-earnings ratio of -3.10 and a beta of 2.49.

Codexis (NASDAQ:CDXS) last posted 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. Codexis had a negative return on equity of 91.74% and a negative net margin of 62.47%.The business had revenue of $38.92 million during the quarter, compared to analyst estimates of $35.83 million. Analysts expect that Codexis will post -0.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CDXS. Assenagon Asset Management S.A. grew its holdings in shares of Codexis by 1.9% in the third quarter. Assenagon Asset Management S.A. now owns 233,953 shares of the biotechnology company’s stock valued at $571,000 after purchasing an additional 4,256 shares during the period. Bridgeway Capital Management LLC increased its position in Codexis by 6.7% during the second quarter. Bridgeway Capital Management LLC now owns 100,908 shares of the biotechnology company’s stock worth $246,000 after purchasing an additional 6,300 shares during the last quarter. Brevan Howard Capital Management LP raised its stake in Codexis by 16.0% during the third quarter. Brevan Howard Capital Management LP now owns 48,734 shares of the biotechnology company’s stock worth $119,000 after purchasing an additional 6,705 shares during the period. BNP Paribas Financial Markets boosted its holdings in Codexis by 93.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 16,608 shares of the biotechnology company’s stock valued at $41,000 after purchasing an additional 8,038 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in Codexis in the 3rd quarter valued at about $25,000. Hedge funds and other institutional investors own 78.54% of the company’s stock.

Codexis Company Profile

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.