CDXS Stock Summary and Trading Ideas (Codexis | NASDAQ:CDXS)

Codexis Inc is involved in the business of providing enzyme optimization services, commercialization of proteins, and developing biocatalyst products, leveraging its proprietary CodeEvolver directed evolution technology platform. The firm's products and services include Biocatalysts and Enzymes. The company generates majority of its revenue through product sales and also licenses its technology platform CodeEvolver to pharmaceutical companies enabling them to use this technology, in-house, to engineer enzymes for their own businesses. Geographically, it derives revenue from the United States, Ireland, Switzerland, China and other markets.

Codexis trades on the NASDAQ stock market under the symbol CDXS.

As of April 24, 2024, CDXS stock price declined to $2.80 with 206,384 million shares trading.

CDXS has a beta of 4.76, meaning it tends to be more sensitive to market movements. CDXS has a correlation of 0.30 to the broad based SPY ETF.

CDXS has a market cap of $195.45 million. This is considered a Micro Cap stock.

Last quarter Codexis reported $27 million in Revenue and -$.10 earnings per share. This beat revenue expectation by $7 million and exceeded earnings estimates by $.02.

In the last 3 years, CDXS stock traded as high as $42.01 and as low as $1.45.

The top ETF exchange traded funds that CDXS belongs to (by Net Assets): VTI, IWM, VXF, IWN, VTWO.

CDXS has underperformed the market in the last year with a price return of -32.9% while the SPY ETF gained +24.1%. CDXS has also underperformed the stock market ETF in the last 3 month and 2 week periods returning +3.9% and -10.5%, respectively, while the SPY returned +4.5% and -1.7%, respectively.

CDXS support price is $2.78 and resistance is $3.02 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CDXS stock will trade within this expected range on the day.