Codexis (NASDAQ:CDXS) Price Target Lowered to $9.00 at HC Wainwright

Posted by on Feb 28th, 2023

Codexis (NASDAQ:CDXS – Get Rating) had its price target trimmed by HC Wainwright from $15.00 to $9.00 in a report released on Monday, The Fly reports.

CDXS has been the subject of a number of other reports. StockNews.com upgraded Codexis from a sell rating to a hold rating in a research report on Tuesday, January 31st. Piper Sandler raised their price target on shares of Codexis from $22.00 to $23.00 and gave the stock an overweight rating in a report on Thursday, January 19th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $18.83.

Codexis Price Performance

NASDAQ:CDXS opened at $4.63 on Monday. Codexis has a one year low of $4.21 and a one year high of $22.22. The company has a market cap of $304.14 million, a PE ratio of -9.08 and a beta of 1.56. The firm’s 50 day simple moving average is $5.63 and its 200 day simple moving average is $6.02.

Codexis (NASDAQ:CDXS – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The biotechnology company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. The company had revenue of $30.40 million for the quarter, compared to analyst estimates of $28.92 million. Codexis had a negative net margin of 24.24% and a negative return on equity of 21.34%. Codexis’s revenue was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.16) earnings per share. Equities research analysts expect that Codexis will post -0.85 EPS for the current year.

Insider Activity

In related news, Director John J. Nicols sold 39,785 shares of the stock in a transaction on Friday, December 9th. The shares were sold at an average price of $5.66, for a total transaction of $225,183.10. Following the transaction, the director now directly owns 863,535 shares of the company’s stock, valued at $4,887,608.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director John J. Nicols sold 35,714 shares of the business’s stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $6.42, for a total value of $229,283.88. Following the completion of the sale, the director now directly owns 823,750 shares of the company’s stock, valued at approximately $5,288,475. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John J. Nicols sold 39,785 shares of the stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $5.66, for a total value of $225,183.10. Following the completion of the transaction, the director now owns 863,535 shares in the company, valued at approximately $4,887,608.10. The disclosure for this sale can be found here. Insiders sold 146,927 shares of company stock worth $829,821 in the last quarter. 7.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Codexis

Institutional investors have recently modified their holdings of the company. Quantbot Technologies LP acquired a new stake in Codexis in the 1st quarter valued at $33,000. Tower Research Capital LLC TRC boosted its position in shares of Codexis by 133.4% during the third quarter. Tower Research Capital LLC TRC now owns 6,007 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 3,433 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Codexis by 156.6% in the 4th quarter. Wells Fargo & Company MN now owns 6,276 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 3,830 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Codexis in the second quarter valued at approximately $66,000. Finally, US Bancorp DE grew its stake in Codexis by 517.5% in the 1st quarter. US Bancorp DE now owns 8,380 shares of the biotechnology company’s stock valued at $172,000 after purchasing an additional 7,023 shares during the period. 93.41% of the stock is owned by institutional investors and hedge funds.

About Codexis

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Codexis, Inc is an enzyme engineering company, which engages in the development and sale of therapeutics. It operates through the Performance Enzymes and Novel Biotherapeutics segments. The Performance Enzymes segment commercializes CodeEvolver protein engineering technology platform and products in the pharmaceuticals market.

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