Codexis, Inc. (NASDAQ:CDXS)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research report issued on Tuesday. They presently have a $8.50 target price on the biotechnology company’s stock. HC Wainwright’s price target indicates a potential upside of 45.30% from the company’s current price.
Several other analysts have also recently issued reports on CDXS. BidaskClub upgraded Codexis from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Zacks Investment Research cut Codexis from a “buy” rating to a “hold” rating in a report on Monday, August 14th. Jefferies Group LLC restated a “buy” rating and issued a $9.00 target price (up from $8.00) on shares of Codexis in a report on Monday, October 2nd. Finally, ValuEngine upgraded Codexis from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $7.50.
Shares of Codexis (NASDAQ CDXS) remained flat at $$5.85 during trading hours on Tuesday. 194,800 shares of the company’s stock were exchanged, compared to its average volume of 169,046. Codexis has a 12 month low of $3.60 and a 12 month high of $7.95.
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In other news, major shareholder Ventures Vii Affiliates F. Vivo sold 1,060,000 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $5.78, for a total transaction of $6,126,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 9.80% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CDXS. Bank of New York Mellon Corp boosted its holdings in Codexis by 10.4% during the 1st quarter. Bank of New York Mellon Corp now owns 136,053 shares of the biotechnology company’s stock valued at $653,000 after acquiring an additional 12,841 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in Codexis by 1.1% during the 1st quarter. TIAA CREF Investment Management LLC now owns 102,294 shares of the biotechnology company’s stock valued at $491,000 after acquiring an additional 1,099 shares during the period. Geode Capital Management LLC boosted its holdings in Codexis by 4.2% during the 1st quarter. Geode Capital Management LLC now owns 226,644 shares of the biotechnology company’s stock valued at $1,087,000 after acquiring an additional 9,191 shares during the period. Bank of America Corp DE boosted its holdings in Codexis by 2.9% during the 1st quarter. Bank of America Corp DE now owns 25,477 shares of the biotechnology company’s stock valued at $122,000 after acquiring an additional 717 shares during the period. Finally, Perkins Capital Management Inc. purchased a new position in Codexis during the 2nd quarter valued at about $164,000. Institutional investors own 63.65% of the company’s stock.
Codexis, Inc is a developer of biocatalysts for the pharmaceutical and fine chemicals markets. The Company’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.
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