CODEXIS INC (CDXS)
Health Care · biotechnology / life science tools · NASDAQ
Codexis uses its proprietary directed evolution technology to engineer enzymes that improve the manufacturing efficiency and sustainability of small molecule drugs and complex RNA therapeutics.
What CODEXIS INC does
Codexis is a life sciences company that provides proprietary directed evolution technology to develop high-performance enzymes and proteins for use in therapeutics manufacturing. The company operates two primary business segments: the ECO Synthesis manufacturing platform, which aims to provide a sustainable, scalable enzymatic alternative for RNA interference (RNAi) therapeutic production, and a pharma biocatalysis business that optimizes enzymes to improve efficiency in the production of small molecule drugs.
Recent developments
In July 2026, the company completed an equity capital raise of approximately $25 million in net proceeds. It is currently retrofitting a 34,000-square-foot facility to serve as its ECO GMP Manufacturing Center for early clinical-stage supply, with full production capability targeted for 2027. Additionally, the company is engaged in technology transfer with several CDMO partners to scale its enzymatic synthesis technology.
From CODEXIS INC's filing of 2026-08-11.
Themes: biocatalysis, RNAi therapeutics manufacturing, protein engineering, synthetic biology, sustainable manufacturing, enzymatic synthesis
Fundamentals
- Price$1.36 as of 2026-10-08 close
- Market cap$149M as of 2026-08-06 (share count; price 2026-10-08)
- 1-year return-48.7% 2025-10-08 close $2.65 → 2026-10-08 close $1.36
- P/En/a negative earnings
- Net margin-62.5% FY2025, SEC XBRL
- ROE-87.0% FY2025, SEC XBRL
- Debt / equity1.24 as of 2026-09-03
- Revenue growth (YoY)+35.9% as of 2026-09-03
- Revenue CAGR (3y)-20.2% SEC XBRL
- Beta1.80 as of 2026-09-03
- Last reported earnings2026-08-11 SEC EDGAR Form 8-K (Item 2.02)
How CDXS compares in its sector
- net profit marginmiddle range 430 covered Health Care peers, as of 2026-09-03
- operating marginmiddle range 417 covered Health Care peers, as of 2026-09-03
- return on equitybottom 25% 510 covered Health Care peers, as of 2026-09-03
- 3-year revenue CAGRbottom 10% 402 covered Health Care peers
- free cash flow (absolute dollars, latest fiscal year)middle range 494 covered Health Care peers, as of FY2025
Position among covered Health Care companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
How CODEXIS INC looks technically
CODEXIS INC (CDXS) is trading 25.9% below its 200-day average, the long-term trend line — a long-term downtrend. Its 50-day average crossed below its 200-day average about 26 trading days ago — a "death cross", a bearish long-term signal. A strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 30, with sellers in control. Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 43, neither overbought (above 70) nor oversold (below 30). It made a new 20-day low about 16 trading days ago. It is 54.4% below its highest point of the past year. Day-to-day price swings are unusually narrow versus its own recent history — a "Bollinger squeeze" (in the tightest 1% of the past ~6 months), which often precedes a bigger move.
Trend
8
| Distance from the 200-day | it is trading 25.9% below its 200-day average, the long-term trend line — a long-term downtrend | -25.9% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $1.47 | $1.47 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $1.84 | $1.84 |
| Swing structure | each recent peak has been lower than the one before it and each dip deeper — the pattern chart-watchers call a downtrend, which describes where price has already been and not where it goes next | lower highs and lower lows |
| Last swing turn | its last significant turn was a swing low 21 calendar days ago — the swings before that are what the structure reading is measured on | 21 sessions |
| Wave structure | its recent swings can be read as a completed five-part downward sequence — the pattern Elliott-wave chartists call an impulse — which on that reading would now be due a pullback rather than more of the same; the labelling fails if price closes below 1.27. It is the only labelling that fits, and it describes the swings already printed, not what comes next. | possible five-wave downward sequence, complete |
| Since the 50/200 cross | its 50-day average crossed below its 200-day average about 26 trading days ago — a "death cross", a bearish long-term signal | 26 sessions |
| Trend strength (14-day ADX) | a strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 30, with sellers in control | 29.5 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 43, neither overbought (above 70) nor oversold (below 30) | 43.3 |
|---|---|---|
| Position in its 14-day range | it is trading in the lower half of its 14-day range ($1.31 to $1.45) — its "stochastic" reading is 36 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been slipping within that range over the last few sessions. | 35.7 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, is in positive territory (momentum leaning bullish) | 13 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $2.98 | $2.98 |
|---|---|---|
| From the 52-week high | it is 54.4% below its 52-week high (its highest price of the past year) | -54.4% |
| Above the 52-week low | it is 41.9% above its 52-week low (its lowest price of the past year) | +41.9% |
| Below the 52-week high | it is 54.4% below its highest point of the past year | 54.4% |
| Since a 20-day breakout | it made a new 20-day low about 16 trading days ago | 16 sessions |
| Since a 55-day breakout | it made a new 55-day low about 16 trading days ago | 16 sessions |
| All-time high | its highest closing price on record is $42.01 (set on 2021-11-08) | $42.01 |
| Given back of the 52-week move | over the past year its closes ranged ($0.98 to $2.85), and it has given back well over two thirds of its rise from last year’s low — 80% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $1.63 to $1.69. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 79.7% |
| From the all-time high | it is 96.8% below its all-time high | -96.8% |
| Nearest price level | it is trading 16.9% below a resistance level at $1.59 — a price it turned at twice since 2025-12-17, most recently on 2026-01-02. Since 2024-10-08 it has 0 such levels below the current price and 15 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | +16.9% |
| All-time low | its lowest closing price on record is $0.9583 (set on 2026-03-04) | $0.9583 |
| Above the all-time low | it is 41.9% above its all-time low | +41.9% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are unusually narrow versus its own recent history — a "Bollinger squeeze" (in the tightest 1% of the past ~6 months), which often precedes a bigger move | 0th percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $0.0822 between its high and its low — about 6.1% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $0.0822 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $1.30 and $1.46 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $1.30 – $1.38 – $1.46 |
| Typical daily range (% of price) | its price moves about 6.1% in a typical session — more volatile than most companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 6.0% |
| Stretch from the 200-day average | it is trading 5.8 daily ranges below its 200-day average price (25.9% below it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 5.8 daily ranges below its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 1.08× |
|---|
Analyst
2
| Change in the average price target | analysts' average price target is unchanged from the prior reading | 0.0% |
|---|---|---|
| Change in the consensus rating | the analyst consensus rating is unchanged since the prior reading | unchanged |
Candlestick patterns
2
| Since a bullish engulfing | 1 session ago it opened below the previous session's close and finished above that session's open — a "bullish engulfing" pair, where one up day more than undid the down day before it | 1 session ago |
|---|---|---|
| Since a bearish engulfing | 2 sessions ago it opened above the previous session's close and finished below that session's open — a "bearish engulfing" pair, where one down day more than undid the up day before it | 2 sessions ago |
Price gaps
3
| Gap at the open | it opened on 2026-10-08 0.7% below the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and had not traded back through that level by the close | -0.7% |
|---|---|---|
| Open gap | it gapped 25.4% below the previous close 53 sessions ago and has not traded back through the level it left behind at 1.99 — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed | -25.4% |
| Gap filled | a 2.2% gap down opened on 2026-10-07 has been "filled" 1 session ago — price traded back through the level the gap left behind, and it closed again during the very session that opened it | 1 session ago |
Price streaks
1
| Closing streak | it closed lower in its latest session, after a session that did not close lower — a single down day rather than a run | 1 session down |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock lagged the market by 5.9 percentage points (the stock lost 4.9% while the market gained 1.0%) | -5.9% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock lagged the market by 51.5 percentage points (the stock lost 47.7% while the market gained 3.8%) | -51.5% |
| vs market, 6 months | over the past 6 months this stock lagged the market by 45.5 percentage points (the stock lost 28.0% while the market gained 17.5%) | -45.5% |
| vs market, 12 months | over the past 12 months this stock lagged the market by 63.7 percentage points (the stock lost 48.7% while the market gained 15.0%) | -63.7% |
Signal agreement
2
| Bullish technical signals | 1 of the 9 technical signals we can compute for it is currently in a bullish state: MACD momentum is positive — these describe past price behaviour, not a forecast | 1 of 9 |
|---|---|---|
| Bearish technical signals | 5 of the 9 technical signals we can compute for it are currently in a bearish state: a "death cross" — its 50-day average is below its 200-day, trading below its 200-day average, a strong downtrend, with sellers in control, lagging the market over 6 months, trading below the Ichimoku cloud — these describe past price behaviour, not a forecast | 5 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 15% below the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-09-01 and projected forward over today's price, the side traders read as an established downtrend, with the band above acting as the level that would have to be cleared. The band itself is thick, spanning 32.2% of the share price, which is taken to mean a barrier that has held for a while and takes effort to cross. | -15.0% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 23% below the average price paid so far this year, so the typical buyer over that stretch is under water. That average is $1.77 — a volume-weighted average of daily closes over 190 sessions, not a true tick-by-tick VWAP. | -23.0% |
|---|---|---|
| Vs the average paid since it last reported | the price is 9% below the average price paid since it last reported on 2026-07-23 (its 8-K), so the typical buyer over that stretch is under water. That average is $1.49 — a volume-weighted average of daily closes over 55 sessions, not a true tick-by-tick VWAP. | -8.9% |
Price levels it has turned at before
CDXS last closed at $1.36 on 2026-10-08. Since 2024-10-08 it has turned at 0 prices below its last close and 15 above; the 3 nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $1.59 | Resistance | 16.9% above the last close | turned there twice · 2025-12-17 to 2026-01-02 |
| $1.75 | Resistance | 29.0% above the last close | turned there twice · 2025-12-22 to 2026-08-24 |
| $1.89 | Resistance | 39.1% above the last close | turned there twice · 2025-04-07 to 2026-01-23 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
Its recent swings can be read as a five-part downward sequence — what Elliott-wave chartists call an impulse — now complete.
This labelling fails — stops being a possible reading at all — if it closes below $1.27.
It is the only labelling that fits these swings, though its proportions are not the textbook ones. It was chosen from 3 labellings that survived the rules, counting shorter readings of the same bars.
This reading has stood for 11 trading days, since 2026-09-24.
Read from daily closes as of 2026-10-08.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading below the 200-day moving average · Recent death cross (50-day crossed below 200-day) · Pulled back from the 12-month high · in a Bollinger Band volatility squeeze · lagging the market · Most volatile (6%+ typical daily range) | Learn: moving average · golden cross · adx · rsi · breakout · fifty two week high low · bollinger bands
Based on daily closing prices as of 2026-10-08. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingBuy (1.63 mean, 1=Strong Buy…5=Strong Sell) — 7 analysts
- Mean price target$6.14 range $2.00 – $11.00; median $5.00
Analyst estimates, as of 2026-10-07. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for CDXS
- Consensus EPS estimate-$0.095 next reporting period, as of 2026-10-07
- Estimate change, 30 days+$0.025 from -$0.12, on 2026-09-02, 35-day window
- Readings revised upward14% of 7 comparable readings
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["History of significant net losses and accumulated deficit.","Unproven nature of the novel enzymatic nucleic acid synthesis platform.","Dependency on a limited number of customers for revenues."]
What changed in the latest 10-Q
AI-assisted comparison of CDXS's 10-Q filed 2026-08-11 against the prior one filed 2026-05-07.
Management's Discussion & Analysis (MD&A)
- Added:
- Newer filing adds reference to Section 27A of the Securities Act of 1933 in the forward-looking statements disclaimer.
- Newer filing adds a statement that technology transfer to several CDMO partners has been conducted in 2026 for further evaluation.
- Newer filing adds a paragraph about signing a lease for a 34,000-square-foot GMP manufacturing facility in Hayward, California (ECO GMP Manufacturing Center) in November 2025, including design intent, building permit application in Q2 2026, and expected retrofit construction start in H2 2026.
- Newer filing adds explanation that the ECO GMP Manufacturing Center and CDMO partnerships are complementary, with the Center serving early clinical-stage supply and CDMO partners providing large-scale commercial manufacturing capacity.
- Removed:
- Older filing states that under each CDMO agreement the company was in the feasibility testing stage and expected to advance at least one partnership, including initiating a technology transfer, in 2026.
- Reworded:
- Newer filing changes the CDMO partnership description from being in feasibility testing with expectation to advance at least one partnership to having conducted technology transfer to several partners in 2026.
- Notes:
- The newer filing text appears truncated after the 'Results of' heading and does not include the full Results of Operations section.
- The older filing text is truncated mid-sentence after 'Our revenues consisted of product revenue'.
- Because both texts are truncated, changes beyond the Business Overview section cannot be assessed.
Risk Factors
- Reworded:
- In the newer filing (2026-08-11), the first risk factor under 'Risks Related to Our Business and Strategy' states net losses of '$20.7 million and $34.0 million for the six months ended June 30, 2026 and 2025, respectively.' In the older filing (2026-05-07), the same risk factor states net losses of '$8.7 million and $20.7 million for the three months ended March 31, 2026 and 2025, respectively.'
- In the newer filing (2026-08-11), this risk factor states 'As of June 30, 2026 and December 31, 2025, we had an accumulated deficit of $627.5 million and $606.8 million, respectively.' In the older filing (2026-05-07), the same risk factor states 'As of March 31, 2026 and December 31, 2025, we had an accumulated deficit of $615.5 million and $606.8 million, respectively.'
- In the newer filing (2026-08-11), the sentence about expanding business reads: 'This includes our ability to expand our business through new or expanded collaborations or other products and services.' In the older filing (2026-05-07), the corresponding sentence reads: '...or otherwise expand our business, whether through new or expanded collaborations or other products and services, our net losses may increase and we may never achieve profitability.'
- Notes:
- The newer filing text is truncated mid-sentence after 'Novar', and the older filing text is truncated mid-sentence after 'Nestlé Health', so any changes beyond those points cannot be compared.
- Only the first risk factor under 'Risks Related to Our Business and Strategy' is included in both texts, so no other risk factors could be compared.
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
No open-market insider purchases or sales recorded in the last 90 days, of which we have read Form 4 filings through 2026-10-04. The 5 days since 2026-10-04 have not been checked yet.
- Last 180 days · read to 2026-10-040 buys · 1 sell ($6174) — 1 selling insider
Most recent open-market transaction: 2026-06-11. Based on Form 4 filings read through 2026-10-04; anything filed since is not yet included.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about CDXS's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Institutional ownership (13F)
5 institutional 13F filers reported holding CDXS as of 2026-06-30 (quarter-end position, filed within 45 days).
- Distinct 13F filers 5
- Reported shares held 9,975,909
- Reported value $22,545,554
reported quarterly holdings change (2026-03-31 → 2026-06-30): 0 new, 4 increased, 1 decreased, 0 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Ask about CDXS's institutional holders → See what each manager we track holds →
Short interest (FINRA)
CDXS had 4,025,042 shares of reported short interest as of the 2026-09-15 FINRA settlement date (delayed, bi-monthly; not real-time).
CDXS had 3.68% of its shares outstanding sold short as of the 2026-09-15 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 5.74 days to cover at the same settlement.
- Reported short interest (shares) 4,025,042
- Short interest (% of shares outstanding) 3.68%
- Prior settlement (shares) 3,848,350
- Reported change 4.59%
- Days to cover (reported) 5.74
Reported to FINRA as of the 2026-09-15 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- Bachem (BCHG)
- Agilent Technologies (A)
- Thermo Fisher Scientific (TMO)
- Lonza (LONN)
- Catalent (CTLT)
- Cytiva (Danaher)
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
Compare CDXS vs…
Frequently asked questions
What does CODEXIS INC (CDXS) do?
Codexis is a life sciences company that provides proprietary directed evolution technology to develop high-performance enzymes and proteins for use in therapeutics manufacturing. The company operates two primary business segments: the ECO Synthesis manufacturing platform, which aims to provide a sustainable, scalable enzymatic alternative for RNA interference (RNAi) therapeutic production, and a pharma biocatalysis business that optimizes enzymes to improve efficiency in the production of small…
What sector is CODEXIS INC (CDXS) in?
CODEXIS INC (CDXS) is classified in the Health Care sector. Its industry is biotechnology / life science tools. It trades on NASDAQ.
Who are CODEXIS INC's (CDXS) competitors?
Notable peers of CODEXIS INC (CDXS) include Bachem, Agilent Technologies, Thermo Fisher Scientific, Lonza and Catalent. This peer set is informational only — not financial advice.
Is CODEXIS INC (CDXS) overbought or oversold right now?
CODEXIS INC (CDXS) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 43, in the neutral middle (as of 2026-10-08). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on CDXS come from?
Fundamentals come from SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-03 for the rest; prices are market data, as of 2026-09-03; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-03 for the rest. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-10-08.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.