Calyxt (NASDAQ:CLXT) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Calyxt (NASDAQ:CLXT) from a hold rating to a buy rating in a research report sent to investors on Thursday morning, Zacks.com reports. The brokerage currently has $5.50 price objective on the stock.

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 brokerages have also recently weighed in on CLXT. BidaskClub raised shares of Calyxt from a strong sell rating to a sell rating in a research report on Thursday, September 12th. National Securities reissued a buy rating and set a $28.00 price target (down previously from $35.00) on shares of Calyxt in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $18.90.

Shares of Calyxt stock traded up $0.19 during trading hours on Thursday, reaching $4.91. 120,818 shares of the company’s stock were exchanged, compared to its average volume of 70,499. Calyxt has a 1 year low of $4.03 and a 1 year high of $19.30. The company has a market capitalization of $155.13 million, a P/E ratio of -5.40 and a beta of 2.47. The business has a fifty day moving average of $5.87 and a two-hundred day moving average of $10.85. The company has a quick ratio of 15.94, a current ratio of 15.96 and a debt-to-equity ratio of 0.23.

Calyxt (NASDAQ:CLXT) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.03. The firm had revenue of $0.41 million for the quarter, compared to analysts’ expectations of $0.30 million. Calyxt had a negative net margin of 5,509.93% and a negative return on equity of 36.21%. As a group, research analysts predict that Calyxt will post -1.11 EPS for the current year.

Several hedge funds have recently made changes to their positions in CLXT. River & Mercantile Asset Management LLP acquired a new position in Calyxt in the second quarter valued at about $146,000. Swiss National Bank acquired a new position in Calyxt in the second quarter valued at about $228,000. Bank of New York Mellon Corp lifted its position in Calyxt by 60.0% in the second quarter. Bank of New York Mellon Corp now owns 34,973 shares of the company’s stock valued at $436,000 after buying an additional 13,109 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Calyxt by 55.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 527,782 shares of the company’s stock valued at $6,587,000 after buying an additional 188,749 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its position in Calyxt by 51.2% in the second quarter. Nikko Asset Management Americas Inc. now owns 527,782 shares of the company’s stock valued at $6,587,000 after buying an additional 178,610 shares during the last quarter. 28.05% of the stock is currently owned by hedge funds and other institutional investors.

Calyxt Company Profile

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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