Codexis (NASDAQ:CDXS) Share Price Passes Above Two Hundred Day Moving Average of $2.70

Shares of Codexis, Inc. (NASDAQ:CDXS) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.70 and traded as high as $2.90. Codexis shares last traded at $2.80, with a volume of 615,947 shares traded.

Analysts Set New Price Targets

Several equities analysts recently commented on CDXS shares. StockNews.com raised shares of Codexis to a “sell” rating in a research report on Tuesday, March 5th. Benchmark raised shares of Codexis from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research report on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $6.80.

Codexis Stock Up 1.1 %

The firm’s 50-day moving average price is $3.32 and its 200-day moving average price is $2.70.

Codexis (NASDAQ:CDXS) last posted its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.18. Codexis had a negative net margin of 108.69% and a negative return on equity of 47.58%. The company had revenue of $26.56 million for the quarter, compared to the consensus estimate of $24.73 million. Research analysts forecast that Codexis, Inc. will post -0.6 EPS for the current fiscal year.

Hedge Funds Weigh In On Codexis

Hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new stake in shares of Codexis during the third quarter valued at approximately $786,000. Assenagon Asset Management S.A. grew its position in Codexis by 156.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,753,443 shares of the biotechnology company’s stock worth $3,314,000 after acquiring an additional 1,071,002 shares in the last quarter. FMR LLC grew its position in Codexis by 153.7% in the third quarter. FMR LLC now owns 4,335,580 shares of the biotechnology company’s stock worth $8,194,000 after acquiring an additional 2,626,400 shares in the last quarter. Algert Global LLC grew its position in Codexis by 8.9% in the third quarter. Algert Global LLC now owns 107,080 shares of the biotechnology company’s stock worth $202,000 after acquiring an additional 8,720 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of Codexis by 262.6% in the third quarter. Barclays PLC now owns 155,055 shares of the biotechnology company’s stock worth $294,000 after buying an additional 112,289 shares during the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.

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.