It is trading at $6.15 slightly below $6.59, the 50 day moving average and which is impressively higher than the 200 day moving average of $5.40. The 50 day moving average went down $-0.44 or -6.69% whereas the 200 day moving average was up $0.75 or +13.79%. Trading volume for Codexis, Inc. was 875K on Tuesday. Overall, volume was up 279.11% over the stocks normal daily volume.
Investors are more bullish on Codexis, Inc. if you pay attention to the downtick in short interest. The company realized a fall in short interest of -8.02% as of the latest report on October 13, 2017. Short interest fell 151,220 over that timeframe. The days to cover increased to 8.0 and the percentage of shorted shares was 0.04% on October 13.
The following firms have recently changed their position in CDXS. As of the end of the quarter Opaleye Management Inc. had bought 300,000 shares growing its position 25.6%. The value of the investment in (CDXS) went from $5,616,000 to $8,011,000 increasing 42.6% quarter over quarter. As of quarter end Baillie Gifford & Co had acquired a total of 16,684 shares growing its stake by 6.0%. The value of the investment in Codexis, Inc. increased from $1,506,000 to $1,948,000 a change of $442,000 quarter to quarter.
Strs Ohio trimmed its holdings by selling 13,300 shares a decrease of 10.6% as of 09/30/2017. Strs Ohio owns 111,900 shares worth $744,000. The total value of its holdings increased 9.1%. As of the end of the quarter Nationwide Fund Advisors had acquired a total of 2,714 shares growing its holdings by 12.6%. The value of the investment in CDXS went from $118,000 to $161,000 a change of 36.4% for the reporting period.
October 13 investment analysts at Jefferies held the stock rating at “Buy” but moved up the price target to $11.00 from $8.00.
In the last earnings report the EPS was $-0.41 and is projected to be $-0.42 for the current year with 48,324,000 shares now outstanding. Next quarter’s EPS is forecasted at $0.06 with next year’s EPS projected to be $-0.16.
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..