It is currently trading at $5.45 a bit higher than the 50 day moving average which is $4.67 and barely above the 200 day moving average of $4.59. The 50 day moving average went up $0.78 or +16.74% and the 200 day average went up by +18.73%. Trading volume for Codexis, Inc. was 100K on Thursday. Volume was down 7.81% under the stocks average daily volume.
Traders are a little more bearish on shares of the company of late looking at the rise in short interest. The company had a rise in short interest of 0.81% as of May 31, 2017 from the last reporting period. Short interest grew from 1,364,053 to 1,375,071 over that timeframe. Days to cover decreased from 12.5 to 7.8 and the short interest percentage is 0.03% as of May 31.
There has been some buying and selling insider activity on Codexis, Inc. (NASDAQ:CDXS) recently. Patrick Y. Yang, Director disclosed the purchase of 10,000 shares of CDXS stock. The shares were bought on November 15th for an average price of $4.83. The Director now owns $1,547,242 of the stock per the Form 4 SEC filing. Dennis P. Wolf, Director disclosed the sale of 18,000 shares of (CDXS). The shares sold for $4.22. Wolf now owns $520,579 of the stock according to the SEC filing.
Bernard J. Kelley, Director reported the sale of 12,643 shares. The shares were sold on August 24th for an average price of $4.26. The Director now owns $946,840 of the stock per the Form 4 SEC filing.
The following firms have also recently changed their position in CDXS. As of the end of the quarter Morgan Stanley had acquired a total of 5,920 shares growing its position 592.0%. The value of the investment in (CDXS) increased from $5,000 to $33,000 increasing 560.0% since the last quarter. Tower Research Capital LLC (trc) added to its stake by buying 2,331 shares an increase of 769.3% from 12/31/2016 to 03/31/2017. Tower Research Capital LLC (trc) owns 2,634 shares with a value of $13,000. The total value of its holdings increased 1,200.0%.
Goldman Sachs Group Inc divested its investment by selling 1,083 shares a decrease of 5.8% as of 03/31/2017. Goldman Sachs Group Inc claims 17,493 shares valued at $84,000. The value of the position overall is down by 1.2%. Nantahala Capital Management, LLC bolstered its position by buying 396,281 shares an increase of 7.1%. Nantahala Capital Management, LLC now holds 5,998,322 shares worth $28,792,000. The total value of its holdings increased 11.7%.
Jefferies starting coverage on CDXS with a rating of “Buy”. On January 6, 2016 H.C. Wainwright began coverage of the stock setting a rating of “Buy” and a price target of $6.00.
On March 4 the stock rating was downgraded from “Buy” to “Neutral” in a report from Ladenburg Thalmann.
The company is trading up since yesterday’s close of $5.3. As of the latest earnings report the EPS was $-0.22 and is estimated to be $-0.28 for the current year with 48,169,000 shares now outstanding. Next quarter’s EPS is forecasted to be $-0.07 and the next full year EPS is anticipated to be $-0.11.
Codexis, Inc., launched on January 31, 2002, is a developer of biocatalysts for the pharmaceutical and fine chemicals markets. The Business’s technologies enable scale-up and implementation of biocatalytic solutions for process development, from research to manufacturing. The Business’s CodeEvolver protein engineering technology platform, which introduces genetic mutations into genes in order to give rise to changes in the enzymes that they produce, overcomes many of the limitations, allowing customers to evolve and optimize biocatalysts to perform specific and desired chemical reactions at commercial scale. The Company have commercialized its technology and products in the pharmaceuticals market, which is its primary business focus. Its pharmaceutical customers, including several of the global pharmaceutical companies, use its technology, products and services in their manufacturing processes and process development..