Codexis (NASDAQ:CDXS) Stock Passes Above 200 Day Moving Average – Here’s Why

Shares of Codexis, Inc. (NASDAQ:CDXS) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.95 and traded as high as $4.30. Codexis shares last traded at $4.16, with a volume of 487,277 shares changing hands.

Analysts Set New Price Targets

CDXS has been the topic of a number of recent analyst reports. Benchmark reissued a “hold” rating on shares of Codexis in a research note on Monday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 target price on shares of Codexis in a research note on Friday, November 22nd.

Codexis Stock Up 3.7 %

The company has a market capitalization of $338.53 million, a P/E ratio of -4.78 and a beta of 2.12. The stock has a 50 day moving average price of $4.63 and a 200 day moving average price of $3.95. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.15 and a current ratio of 3.21.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. CenterBook Partners LP purchased a new stake in shares of Codexis during the 4th quarter valued at approximately $4,688,000. Tallon Kerry Patrick purchased a new stake in Codexis during the 4th quarter worth about $2,018,000. Vanguard Group Inc. boosted its stake in Codexis by 7.5% in the 4th quarter. Vanguard Group Inc. now owns 4,463,801 shares of the biotechnology company’s stock worth $21,292,000 after purchasing an additional 311,082 shares during the period. abrdn plc grew its holdings in Codexis by 62.5% during the 3rd quarter. abrdn plc now owns 800,410 shares of the biotechnology company’s stock valued at $2,465,000 after buying an additional 307,762 shares in the last quarter. Finally, Telemark Asset Management LLC increased its position in shares of Codexis by 11.3% during the fourth quarter. Telemark Asset Management LLC now owns 3,000,000 shares of the biotechnology company’s stock valued at $14,310,000 after buying an additional 303,589 shares during the period. Institutional investors own 78.54% of the company’s stock.

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.