Wall Street brokerages predict that Calyxt Inc (NASDAQ:CLXT) will post sales of $1.15 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Calyxt’s earnings, with the highest sales estimate coming in at $2.00 million and the lowest estimate coming in at $300,000.00. Calyxt posted sales of $190,000.00 during the same quarter last year, which would indicate a positive year over year growth rate of 505.3%. The business is scheduled to announce its next quarterly earnings report on Tuesday, March 12th.
According to Zacks, analysts expect that Calyxt will report full-year sales of $1.37 million for the current year, with estimates ranging from $500,000.00 to $2.23 million. For the next year, analysts expect that the firm will report sales of $12.43 million, with estimates ranging from $11.35 million to $13.50 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Calyxt.
Several research analysts have weighed in on CLXT shares. Citigroup lowered their price objective on Calyxt from $19.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, November 19th. Goldman Sachs Group upgraded Calyxt from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $9.25 to $18.00 in a research report on Sunday, December 16th. Zacks Investment Research cut Calyxt from a “buy” rating to a “hold” rating in a research report on Monday, December 17th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $27.00 price objective on shares of Calyxt in a research report on Thursday, November 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $17.75.
In other news, insider Daniel F. Voytas sold 8,170 shares of the business’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $13.00, for a total transaction of $106,210.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel F. Voytas sold 4,083 shares of the business’s stock in a transaction that occurred on Tuesday, December 18th. The shares were sold at an average price of $13.00, for a total value of $53,079.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,814 shares of company stock valued at $198,086. 2.80% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. increased its holdings in shares of Calyxt by 50.0% during the third quarter. Point72 Asset Management L.P. now owns 449,898 shares of the company’s stock valued at $6,870,000 after acquiring an additional 149,898 shares in the last quarter. Millennium Management LLC purchased a new position in shares of Calyxt during the 2nd quarter valued at $582,000. FMR LLC raised its stake in shares of Calyxt by 1.1% during the 3rd quarter. FMR LLC now owns 4,851,953 shares of the company’s stock valued at $74,089,000 after purchasing an additional 52,654 shares during the period. California Public Employees Retirement System bought a new stake in shares of Calyxt during the 2nd quarter valued at $187,000. Finally, Blair William & Co. IL increased its stake in Calyxt by 8.8% in the 3rd quarter. Blair William & Co. IL now owns 52,681 shares of the company’s stock worth $804,000 after acquiring an additional 4,280 shares during the last quarter. Hedge funds and other institutional investors own 28.60% of the company’s stock.
Calyxt, Inc, a consumer-centric food- and agriculture-focused company, develops healthier specialty food ingredients and food crops using gene-editing technology for plants in the United States. It engages in the development of high oleic soybeans, high fiber wheat, herbicide tolerant wheat, powdery mildew resistant wheat, improved oil composition canola, herbicide tolerant canola, improved quality alfalfa and herbicide tolerant alfalfa, late blight resistant potatoes, cold storable/reduced browning potatoes, improved protein composition soybeans, drought tolerant soybeans, herbicide tolerant soybeans, and improved yield soybeans.
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