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

Codexis, Inc. (NASDAQ:CDXS) saw a large increase in short interest in June. As of June 15th, there was short interest totalling 2,230,000 shares, an increase of 9.9% from the May 31st total of 2,030,000 shares. Based on an average trading volume of 418,200 shares, the days-to-cover ratio is currently 5.3 days.

Codexis Price Performance

CDXS traded down $0.01 on Wednesday, reaching $2.88. The company had a trading volume of 227,715 shares, compared to its average volume of 519,521. Codexis has a one year low of $1.45 and a one year high of $4.91. The company has a fifty day moving average of $3.25 and a 200-day moving average of $3.17. The company has a debt-to-equity ratio of 0.35, a quick ratio of 3.63 and a current ratio of 3.71.

Codexis (NASDAQ:CDXS) last announced its earnings results on Thursday, May 2nd. The biotechnology company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.01. The firm had revenue of $17.07 million for the quarter, compared to analysts’ expectations of $14.06 million. Codexis had a negative return on equity of 41.76% and a negative net margin of 87.73%. As a group, research analysts expect that Codexis will post -0.63 EPS for the current year.

Wall Street Analysts Forecast Growth

CDXS has been the subject of several research reports. Jefferies Financial Group initiated coverage on shares of Codexis in a report on Monday, June 3rd. They issued a “buy” rating and a $5.00 price target for the company. Cantor Fitzgerald assumed coverage on Codexis in a report on Thursday, May 30th. They issued an “overweight” rating and a $11.00 price target on the stock. Benchmark restated a “buy” rating and set a $9.00 price objective on shares of Codexis in a research note on Friday, May 3rd. Finally, StockNews.com upgraded Codexis to a “sell” rating in a research note on Tuesday, March 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.14.

Institutional Investors Weigh In On Codexis

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC raised its position in shares of Codexis by 19.1% during the fourth quarter. SG Americas Securities LLC now owns 31,442 shares of the biotechnology company’s stock worth $96,000 after purchasing an additional 5,050 shares during the period. Private Advisor Group LLC increased its position in shares of Codexis by 3.9% in the fourth quarter. Private Advisor Group LLC now owns 189,486 shares of the biotechnology company’s stock worth $578,000 after acquiring an additional 7,065 shares in the last quarter. Algert Global LLC raised its holdings in shares of Codexis by 8.9% during the third quarter. Algert Global LLC now owns 107,080 shares of the biotechnology company’s stock valued at $202,000 after acquiring an additional 8,720 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of Codexis by 57.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock valued at $99,000 after acquiring an additional 10,395 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Codexis by 674.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,162 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 13,203 shares during the period. 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.