Codexis (NASDAQ:CDXS) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of Codexis, Inc. (NASDAQ:CDXS) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.69 and traded as high as $4.57. Codexis shares last traded at $4.52, with a volume of 727,423 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price objective on shares of Codexis in a research note on Friday, November 22nd. Benchmark restated a “hold” rating on shares of Codexis in a research report on Monday, November 4th.

Codexis Stock Up 7.5 %

The company has a market cap of $396.31 million, a price-to-earnings ratio of -5.60 and a beta of 2.13. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.39. The firm’s fifty day moving average price is $4.75 and its 200-day moving average price is $3.70.

Codexis (NASDAQ:CDXS) last posted its earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.04). The business had revenue of $12.83 million during the quarter, compared to analyst estimates of $11.64 million. Codexis had a negative net margin of 96.35% and a negative return on equity of 71.56%. During the same period in the previous year, the firm posted ($0.26) earnings per share. Sell-side analysts predict that Codexis, Inc. will post -0.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CDXS. Bank of New York Mellon Corp lifted its holdings in shares of Codexis by 12.8% in the second quarter. Bank of New York Mellon Corp now owns 284,166 shares of the biotechnology company’s stock valued at $881,000 after purchasing an additional 32,138 shares in the last quarter. Rhumbline Advisers grew its stake in shares of Codexis by 3.8% during the 2nd quarter. Rhumbline Advisers now owns 108,594 shares of the biotechnology company’s stock worth $337,000 after acquiring an additional 4,017 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of Codexis by 19.0% in the second quarter. Private Advisor Group LLC now owns 275,241 shares of the biotechnology company’s stock valued at $853,000 after purchasing an additional 43,900 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Codexis in the second quarter worth $54,000. Finally, American Century Companies Inc. boosted its holdings in Codexis by 18.9% during the second quarter. American Century Companies Inc. now owns 100,734 shares of the biotechnology company’s stock worth $312,000 after purchasing an additional 16,019 shares during the last quarter. Institutional investors own 78.54% of the company’s stock.

Codexis Company Profile

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.