Calyxt (NASDAQ:CLXT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage presently has a $12.00 target price on the stock. Zacks Investment Research‘s target price indicates a potential upside of 9.19% from the stock’s previous close.
According to Zacks, “Calyxt, Inc. is a consumer-centric, food- and agriculture-focused company. It researches and develops seeds and food ingredients for agricultural, feed, and food applications as well as offers fat saturation and gluten reduction in soybean oil and wheat. Calyxt, Inc. is based in New Brighton, United States. “
Several other equities research analysts also recently commented on the stock. Citigroup cut their target price on shares of Calyxt from $19.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, November 19th. Jefferies Financial Group reiterated a “buy” rating and set a $27.00 target price on shares of Calyxt in a research report on Thursday, November 15th. Finally, Goldman Sachs Group began coverage on shares of Calyxt in a research report on Friday, September 7th. They set a “neutral” rating and a $18.00 target price on the stock. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $20.85.
NASDAQ:CLXT traded down $0.08 during mid-day trading on Thursday, hitting $10.99. 73,349 shares of the company’s stock were exchanged, compared to its average volume of 78,761. The company has a debt-to-equity ratio of 0.17, a current ratio of 15.01 and a quick ratio of 15.01. Calyxt has a fifty-two week low of $10.68 and a fifty-two week high of $27.23. The company has a market cap of $360.58 million, a PE ratio of -9.81 and a beta of 3.34.
Calyxt (NASDAQ:CLXT) last posted its earnings results on Wednesday, November 14th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.06. Calyxt had a negative net margin of 6,256.67% and a negative return on equity of 33.08%. The business had revenue of $0.03 million for the quarter, compared to the consensus estimate of $0.50 million. Equities research analysts expect that Calyxt will post -0.93 EPS for the current year.
In other news, insider Daniel F. Voytas sold 4,083 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $16.13, for a total value of $65,858.79. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Manoj Sahoo sold 2,521 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $14.84, for a total transaction of $37,411.64. The disclosure for this sale can be found here. Insiders sold a total of 20,553 shares of company stock worth $303,275 in the last 90 days. Corporate insiders own 2.80% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Calyxt by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 377,640 shares of the company’s stock worth $5,766,000 after purchasing an additional 7,246 shares during the period. Point72 Asset Management L.P. lifted its position in shares of Calyxt by 50.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 449,898 shares of the company’s stock worth $6,870,000 after purchasing an additional 149,898 shares during the period. Columbus Hill Capital Management L.P. lifted its position in shares of Calyxt by 84.6% in the 3rd quarter. Columbus Hill Capital Management L.P. now owns 308,942 shares of the company’s stock worth $4,718,000 after purchasing an additional 141,618 shares during the period. Blair William & Co. IL lifted its position in shares of 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 purchasing an additional 4,280 shares during the period. Finally, FMR LLC lifted its position in shares of Calyxt by 1.1% in the 3rd quarter. FMR LLC now owns 4,851,953 shares of the company’s stock worth $74,089,000 after purchasing an additional 52,654 shares during the period. Hedge funds and other institutional investors own 28.30% 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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