Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Codexis Inc. shares valued at $342,580 were sold by NICOLS JOHN J on Aug 15. At $8.78 per share, NICOLS JOHN J sold 39,000 shares. The insider’s holdings dropped to 1,022,679 shares worth approximately $6.33 million following the completion of this transaction.
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Also, NICOLS JOHN J sold 38,500 shares, netting a total of over 331,774 in proceeds. Following the sale of shares at $8.62 each, the insider now holds 1,022,679 shares.
Before that, NICOLS JOHN J had sold 38,500 shares from its account. In a trade valued at $397,121, the President and CEO traded Codexis Inc. shares for $10.31 each. Upon closing the transaction, the insider’s holdings decreased to 38,500 shares, worth approximately $6.33 million.
As of April 12, 2021, Piper Sandler has initiated its “an Overweight” rating for CDXS. Earlier on March 01, 2021, Stifel initiated its rating. Their recommendation was “a Buy” for CDXS stock.
Analyzing CDXS’s Price Performance
On Thursday, Codexis Inc. [NASDAQ: CDXS] plunged -7.06% to $6.19. The stock’s lowest price that day was $6.17, but it reached a high of $6.61 in the same session. During the last five days, there has been a drop of approximately -14.50%. Over the course of the year, Codexis Inc. shares have dropped approximately -80.20%. Shares of the company reached a 52-week high of $32.28 on 01/03/22 and a 52-week low of $6.15 on 07/15/22. A 50-day SMA is recorded $7.61, while a 200-day SMA reached $15.55. Nevertheless, trading volume fell to 1.29 million shares from 0.55 million shares the previous day.
Support And Resistance Levels for Codexis Inc. (CDXS)
According to the 24-hour chart, there is a support level at 6.04, which, if violated, would cause prices to drop to 5.88. In the upper region, resistance lies at 6.48. The next price resistance is at 6.76. RSI (Relative Strength Index) is 35.02 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.51, which suggests the price will decrease in the coming days. Percent R is at 98.88%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Codexis Inc. subject to short interest?
Stocks of Codexis Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.29 million shares to 5.53 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 5.24 million shares. A jump of 5.24% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 4.03 of the overall float, the days-to-cover ratio (short ratio) jumped to 4.03.
Which companies own the most shares of Codexis Inc. (CDXS)?
According to Baillie Gifford & Co. filings, the company currently owns 7,400,067 shares, which is about 11.30% of the total CDXS shares outstanding. The investor’s shares have appreciated by 13,439 from its previous 13-F filing of 7386628.0 shares. With the completion of the buy transaction, ARK Investment Management LLC’s stake is now worth $31,450,877. BlackRock Fund Advisors acquire a 5.02% interest valued at $30.65 million while Nantahala Capital Management LLC purchased a 737,049 stake. A total of -142,449 shares of Codexis Inc. were bought by The Vanguard Group, Inc. during the quarter, and 923,026 were bought by Allspring Global Investments LLC. In its current portfolio, Telemark Asset Management LLC holds 2,504,500 shares valued at $17.56 million.
In terms of Codexis Inc. share price expectations, FactSet research, analysts set an average price target of $18.38 in the next 12 months, up nearly 192.79% from the previous closing price of $6.66. Analysts anticipate Codexis Inc. stock to reach $25.00 by 2022, with the lowest price target being $13.00. In spite of this, 8 analysts ranked Codexis Inc. stock as a Buy at the end of 2022. On February 26, 2021, H.C. Wainwright assigned a price target of “a Buy” to the stock and reiterated coverage with a $26.