Codexis, Inc. (NASDAQ:CDXS) Sees Significant Rise in Short Interest in March

Codexis, Inc. (NASDAQ:CDXS) experienced a notable rise in short interest during the month of March. By March 15th, short interest had climbed to 4,570,000 shares, marking a 50.8% increase from the February 28th figure of 3,030,000 shares. This indicates that 5.7% of the company's stock is currently sold short. With an average trading volume of 843,500 shares, the days-to-cover ratio stands at 5.4 days.

Institutional Buying and Selling

Several institutional investors and hedge funds have recently engaged in buying and selling shares of Codexis. CenterBook Partners LP entered a new position in Codexis during the fourth quarter, which is estimated to be worth approximately $4,688,000. Similarly, Tallon Kerry Patrick acquired a new stake in Codexis valued at about $2,018,000 in the same quarter. Vanguard Group Inc. increased its holdings by 7.5% in the fourth quarter, now owning 4,463,801 shares worth around $21,292,000, after purchasing an additional 311,082 shares. Telemark Asset Management LLC also raised its holdings by 11.3% to hold 3,000,000 shares valued at $14,310,000, following their acquisition of 303,589 additional shares. Furthermore, Nuveen Asset Management LLC boosted its stake by 18.6%, now owning 1,812,345 shares worth $8,645,000 after obtaining an additional 283,760 shares. Overall, institutional investors and hedge funds control about 78.54% of Codexis stock.

Recent Performance of Codexis Stock

As of Friday, Codexis shares traded at $2.81. The stock has a 50-day simple moving average of $3.71 and a 200-day moving average of $3.94. Over the past year, the stock has reached a low of $2.43 and a high of $6.08. The company’s financial metrics include a debt-to-equity ratio of 0.39, a quick ratio of 3.15, and a current ratio of 3.21. Codexis has a market capitalization of $232.77 million with a price-to-earnings ratio of -3.23 and a beta value of 2.12.

On February 27th, Codexis reported its quarterly earnings. The biotechnology firm reported an earnings per share (EPS) of -$0.13, falling short of analysts' expectations of -$0.04 by $0.09. The company's revenue for the quarter was $21.46 million, compared to the consensus estimate of $27.41 million. Codexis reported negative net margins of 96.35% and a negative return on equity of 71.56%. Analysts are forecasting a projected EPS of -$0.77 for the current fiscal year.

About Codexis, Inc.

Codexis, Inc. is involved in the discovery, development, and sale of enzymes and other proteins. The company operates through two main segments: Performance Enzymes and Novel Biotherapeutics. It offers various biocatalyst products and services, including biocatalyst screening and protein engineering. Additionally, Codexis provides the CodeEvolver technology platform, which is designed to assist in developing and delivering biocatalysts that enhance chemical transformations and improve manufacturing process efficiency.

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