Calyxt Inc (NASDAQ:CLXT) Sees Significant Decrease in Short Interest

Calyxt Inc (NASDAQ:CLXT) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 501,900 shares, a decrease of 15.6% from the September 30th total of 594,600 shares. Based on an average daily volume of 70,500 shares, the days-to-cover ratio is presently 7.1 days. Currently, 5.0% of the shares of the stock are sold short.

Several research firms have issued reports on CLXT. BMO Capital Markets lowered their target price on shares of Calyxt to $15.00 and set an “outperform” rating on the stock in a research note on Friday, November 8th. Zacks Investment Research cut shares of Calyxt from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. National Securities reissued a “buy” rating and issued a $28.00 price target (down previously from $35.00) on shares of Calyxt in a report on Thursday, August 8th. Finally, BidaskClub raised shares of Calyxt from a “strong sell” rating to a “sell” rating in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $16.50.

Several large investors have recently bought and sold shares of the company. River & Mercantile Asset Management LLP purchased a new position in Calyxt during the 2nd quarter valued at about $146,000. Swiss National Bank purchased a new position in Calyxt during the 2nd quarter valued at about $228,000. Charles Schwab Investment Management Inc. lifted its position in Calyxt by 56.5% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 21,848 shares of the company’s stock valued at $273,000 after acquiring an additional 7,887 shares during the period. Essex Investment Management Co. LLC lifted its position in Calyxt by 91.4% during the 3rd quarter. Essex Investment Management Co. LLC now owns 22,436 shares of the company’s stock valued at $127,000 after acquiring an additional 10,716 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Calyxt by 52.3% during the 2nd quarter. Wells Fargo & Company MN now owns 24,679 shares of the company’s stock valued at $309,000 after acquiring an additional 8,475 shares during the period. 28.32% of the stock is owned by hedge funds and other institutional investors.

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Shares of NASDAQ:CLXT traded down $0.09 during trading on Friday, reaching $3.94. The company had a trading volume of 93,300 shares, compared to its average volume of 93,770. The company has a fifty day moving average of $4.83 and a two-hundred day moving average of $9.21. Calyxt has a 12 month low of $3.83 and a 12 month high of $19.30. The company has a current ratio of 12.38, a quick ratio of 11.97 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $142.02 million, a P/E ratio of -4.33 and a beta of 2.41.

Calyxt (NASDAQ:CLXT) last posted its earnings results on Wednesday, November 6th. The company reported ($0.32) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.01). Calyxt had a negative return on equity of 43.09% and a negative net margin of 1,016.27%. The company had revenue of $2.97 million during the quarter. As a group, equities research analysts predict that Calyxt will post -1.11 earnings per share for the current year.

About Calyxt

Calyxt, Inc, a consumer-centric food- and agriculture-focused company, develops healthier specialty food ingredients and food crops using gene-editing technology for agriculture in the United States. It engages in the development of high oleic and low linolenic soybean product candidates; high fiber wheat; improved quality alfalfa product candidates; and cold storable and reduced browning potatoes.

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