Fintel reports that on August 14, 2023, Stifel maintained coverage of Codexis (NASDAQ:CDXS) with a Buy recommendation.
Analyst Price Forecast Suggests 433.36% Upside
As of August 2, 2023, the average one-year price target for Codexis is 11.15. The forecasts range from a low of 6.06 to a high of $22.05. The average price target represents an increase of 433.36% from its latest reported closing price of 2.09.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Codexis is 94MM, a decrease of 5.38%. The projected annual non-GAAP EPS is -1.07.
What is the Fund Sentiment?
There are 322 funds or institutions reporting positions in Codexis. This is a decrease of 22 owner(s) or 6.40% in the last quarter. Average portfolio weight of all funds dedicated to CDXS is 0.06%, a decrease of 28.22%. Total shares owned by institutions decreased in the last three months by 3.68% to 70,290K shares. 
The put/call ratio of CDXS is 0.02, indicating a bullish outlook.
What are Other Shareholders Doing?
Baillie Gifford holds 6,140K shares representing 8.80% ownership of the company. In it's prior filing, the firm reported owning 6,107K shares, representing an increase of 0.54%. The firm decreased its portfolio allocation in CDXS by 35.94% over the last quarter.
Nantahala Capital Management holds 5,036K shares representing 7.21% ownership of the company. In it's prior filing, the firm reported owning 5,152K shares, representing a decrease of 2.30%. The firm decreased its portfolio allocation in CDXS by 16.57% over the last quarter.
ARKG - ARK Genomic Revolution ETF holds 4,168K shares representing 5.97% ownership of the company. In it's prior filing, the firm reported owning 4,317K shares, representing a decrease of 3.57%. The firm decreased its portfolio allocation in CDXS by 25.86% over the last quarter.
ARK Investment Management holds 4,124K shares representing 5.91% ownership of the company. In it's prior filing, the firm reported owning 4,296K shares, representing a decrease of 4.15%. The firm decreased its portfolio allocation in CDXS by 37.45% over the last quarter.
Telemark Asset Management holds 2,544K shares representing 3.65% ownership of the company. In it's prior filing, the firm reported owning 2,564K shares, representing a decrease of 0.79%. The firm decreased its portfolio allocation in CDXS by 37.55% over the last quarter.
Codexis Background Information
(This description is provided by the company.)
Codexis is a leading enzyme engineering company that applies its proprietary CodeEvolver® technology to develop proteins for a variety of applications, including as biocatalysts for the commercial manufacture of pharmaceuticals, fine chemicals and industrial enzymes, and enzymes as biotherapeutics and for use in molecular diagnostics. Codexis' proven technology enables improvements in protein performance, meeting customer needs for rapid, cost-effective and sustainable manufacturing in multiple commercial-scale implementations of biocatalytic processes.
Additional reading:
- Codexis Reports Second Quarter 2023 Financial Results Company Recently Announced Enhanced Strategic Focus and Portfolio Prioritization Anticipate Demonstrating Gram-Scale Synthesis of ECO Synthesis™ Technology for RNAi Therapeutics Production by End
- CERTIFICATE OF AMENDMENT TO NINTH AMENDED AND RESTATED CERTIFICATE OF INCORPORATION OF CODEXIS, INC. The undersigned duly authorized officer of Codexis, Inc., a Delaware corporation, hereby certifies the following:
- CODEXIS, INC. 2023 EMPLOYEE STOCK PURCHASE PLAN ARTICLE 1 PURPOSE
- AMENDMENT TO THE CODEXIS, INC. 2019 INCENTIVE AWARD PLAN
- Codexis Announces Enhanced Strategic Focus and Extends Projected Cash Runway to Mid-2026 Organization Streamlined to Focus on Continued Advancement and Commercialization of ECO Synthesis™ Platform for RNAi Therapeutics Production Codexis Expects its
This story originally appeared on Fintel.
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