Codexis (CDXS) Upgraded by BidaskClub to “Hold”

BidaskClub upgraded shares of Codexis (NASDAQ:CDXS) from a sell rating to a hold rating in a report issued on Saturday.

Other equities analysts have also issued reports about the company. HC Wainwright set a $8.00 price target on Codexis and gave the company a buy rating in a research note on Friday, August 11th. Zacks Investment Research downgraded Codexis from a buy rating to a hold rating in a research report on Monday, August 14th. Jefferies Group upped their price objective on Codexis from $9.00 to $11.00 and gave the company a buy rating in a research report on Friday, October 13th. Finally, ValuEngine upgraded Codexis from a sell rating to a hold rating in a research report on Friday, September 1st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Codexis currently has an average rating of Hold and an average price target of $7.50.

Shares of Codexis (NASDAQ:CDXS) traded up $0.02 during trading on Friday, reaching $6.93. The company had a trading volume of 252,679 shares, compared to its average volume of 194,505. Codexis has a 52 week low of $3.60 and a 52 week high of $7.95.

In other Codexis news, major shareholder Ventures Vii Affiliates F. Vivo sold 1,060,000 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 9.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Nationwide Fund Advisors raised its holdings in shares of Codexis by 15.7% in the second quarter. Nationwide Fund Advisors now owns 21,568 shares of the biotechnology company’s stock worth $118,000 after buying an additional 2,928 shares during the period. Bank of America Corp DE raised its holdings in shares of Codexis by 2.9% in the first quarter. Bank of America Corp DE now owns 25,477 shares of the biotechnology company’s stock worth $122,000 after buying an additional 717 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Codexis by 30.5% in the second quarter. The Manufacturers Life Insurance Company now owns 35,264 shares of the biotechnology company’s stock worth $192,000 after buying an additional 8,244 shares during the period. Rhumbline Advisers raised its holdings in shares of Codexis by 23.3% in the second quarter. Rhumbline Advisers now owns 42,872 shares of the biotechnology company’s stock worth $234,000 after buying an additional 8,095 shares during the period. Finally, White Pine Capital LLC purchased a new stake in shares of Codexis in the second quarter worth approximately $277,000. Hedge funds and other institutional investors own 65.71% of the company’s stock.

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About Codexis

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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