Zacks Investment Research lowered shares of Calyxt (NASDAQ:CLXT) from a buy rating to a hold rating in a research note issued to investors on Wednesday.
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. “
CLXT has been the subject of a number of other research reports. Goldman Sachs Group initiated coverage on Calyxt in a research note on Friday, September 7th. They set a neutral rating and a $18.00 price objective for the company. Citigroup lowered their price objective on Calyxt from $19.00 to $13.00 and set a neutral rating for the company in a research note on Monday, November 19th. Finally, Jefferies Financial Group reiterated a buy rating and set a $27.00 price objective on shares of Calyxt in a research note on Thursday, November 15th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Calyxt has an average rating of Buy and an average target price of $20.85.
CLXT opened at $10.37 on Wednesday. The company has a quick ratio of 15.01, a current ratio of 15.01 and a debt-to-equity ratio of 0.17. Calyxt has a 52 week low of $10.21 and a 52 week high of $27.23.
Calyxt (NASDAQ:CLXT) last released its earnings results on Wednesday, November 14th. The company reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.29) by $0.06. The company had revenue of $0.03 million during the quarter, compared to analysts’ expectations of $0.50 million. Calyxt had a negative return on equity of 33.08% and a negative net margin of 6,256.67%. As a group, sell-side analysts anticipate that Calyxt will post -0.93 EPS for the current year.
In other Calyxt news, insider Daniel F. Voytas sold 4,666 shares of Calyxt stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $16.00, for a total transaction of $74,656.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Manoj Sahoo sold 2,521 shares of Calyxt stock in a transaction on Monday, October 1st. The shares were sold at an average price of $14.84, for a total value of $37,411.64. The disclosure for this sale can be found here. Insiders have sold 20,553 shares of company stock valued at $303,275 in the last quarter. 2.80% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its holdings in shares of Calyxt by 134.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,583 shares of the company’s stock worth $123,000 after purchasing an additional 3,781 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in shares of Calyxt in the 2nd quarter worth $186,000. California Public Employees Retirement System bought a new stake in shares of Calyxt in the 2nd quarter worth $187,000. Granite Investment Partners LLC bought a new stake in shares of Calyxt in the 2nd quarter worth $216,000. Finally, Essex Investment Management Co. LLC bought a new stake in shares of Calyxt in the 3rd quarter worth $309,000. Institutional investors and hedge funds 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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