Codexis (NASDAQ:CDXS) Rating Lowered to “Strong Sell” at Wall Street Zen

Codexis (NASDAQ:CDXS) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “strong sell” rating in a research report issued on Saturday.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Codexis in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.00.

Codexis Trading Down 17.2%

Shares of CDXS stock traded down $0.35 during trading hours on Friday, reaching $1.69. The company’s stock had a trading volume of 4,982,308 shares, compared to its average volume of 875,516. The firm’s fifty day simple moving average is $2.48 and its 200 day simple moving average is $2.56. Codexis has a one year low of $1.61 and a one year high of $6.08. The stock has a market capitalization of $152.55 million, a P/E ratio of -2.04 and a beta of 2.57. The company has a current ratio of 5.82, a quick ratio of 5.70 and a debt-to-equity ratio of 0.71.

Codexis (NASDAQ:CDXS) last released its quarterly earnings results on Thursday, November 6th. The biotechnology company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.07). Codexis had a negative return on equity of 105.83% and a negative net margin of 113.67%.The company had revenue of $8.60 million during the quarter, compared to the consensus estimate of $18.52 million. Equities research analysts expect that Codexis will post -0.77 EPS for the current year.

Hedge Funds Weigh In On Codexis

A number of hedge funds have recently modified their holdings of CDXS. Jacobs Levy Equity Management Inc. lifted its position in shares of Codexis by 24.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,070,253 shares of the biotechnology company’s stock worth $2,879,000 after buying an additional 209,298 shares in the last quarter. Pier Capital LLC raised its holdings in shares of Codexis by 14.7% during the 2nd quarter. Pier Capital LLC now owns 1,915,160 shares of the biotechnology company’s stock worth $4,673,000 after acquiring an additional 245,956 shares in the last quarter. Strs Ohio bought a new position in shares of Codexis during the 1st quarter valued at approximately $288,000. US Bancorp DE grew its holdings in shares of Codexis by 11,125.0% in the first quarter. US Bancorp DE now owns 17,960 shares of the biotechnology company’s stock valued at $48,000 after purchasing an additional 17,800 shares in the last quarter. Finally, Inspire Investing LLC increased its position in Codexis by 48.4% in the first quarter. Inspire Investing LLC now owns 126,103 shares of the biotechnology company’s stock worth $339,000 after purchasing an additional 41,115 shares during the last quarter. 78.54% of the stock is currently owned by institutional investors.

About Codexis

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.