Codexis, Inc. (NASDAQ:CDXS) Sees Significant Growth in Short Interest

Codexis, Inc. (NASDAQ:CDXS) was the target of a large growth in short interest in December. As of December 15th, there was short interest totalling 1,900,000 shares, a growth of 10.5% from the November 30th total of 1,720,000 shares. Based on an average trading volume of 660,000 shares, the short-interest ratio is presently 2.9 days.

Codexis Stock Up 2.1 %

Codexis stock traded up $0.10 during midday trading on Wednesday, hitting $4.77. 645,250 shares of the company’s stock were exchanged, compared to its average volume of 568,039. Codexis has a 12 month low of $2.53 and a 12 month high of $6.08. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.15 and a current ratio of 3.21. The company has a market cap of $388.17 million, a PE ratio of -5.48 and a beta of 2.15. The firm has a 50-day moving average of $4.47 and a two-hundred day moving average of $3.57.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.04). The business had revenue of $12.83 million for the quarter, compared to analysts’ expectations of $11.64 million. Codexis had a negative net margin of 96.35% and a negative return on equity of 71.56%. During the same period in the previous year, the business earned ($0.26) earnings per share. As a group, analysts expect that Codexis will post -0.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 target price on shares of Codexis in a research report on Friday, November 22nd. Benchmark restated a “hold” rating on shares of Codexis in a report on Monday, November 4th.

Institutional Investors Weigh In On Codexis

A number of hedge funds have recently made changes to their positions in CDXS. Los Angeles Capital Management LLC purchased a new position in Codexis in the second quarter valued at about $54,000. Intech Investment Management LLC purchased a new position in shares of Codexis in the 3rd quarter worth approximately $66,000. Marshall Wace LLP bought a new position in shares of Codexis during the 2nd quarter worth approximately $89,000. Algert Global LLC lifted its position in Codexis by 17.1% during the second quarter. Algert Global LLC now owns 41,556 shares of the biotechnology company’s stock valued at $129,000 after acquiring an additional 6,069 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in Codexis by 113.8% in the second quarter. Squarepoint Ops LLC now owns 74,531 shares of the biotechnology company’s stock valued at $231,000 after acquiring an additional 39,664 shares in the last quarter. 78.54% of the stock is currently 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.