Codexis, Inc. (NASDAQ:CDXS) Major Shareholder Acquires $3,175,550.00 in Stock

Codexis, Inc. (NASDAQ:CDXS) major shareholder Opaleye Management Inc. purchased 1,055,000 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was purchased at an average price of $3.01 per share, for a total transaction of $3,175,550.00. Following the acquisition, the insider now owns 8,390,000 shares in the company, valued at $25,253,900. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Monday, September 23rd, Opaleye Management Inc. bought 45,000 shares of Codexis stock. The shares were purchased at an average price of $2.94 per share, for a total transaction of $132,300.00.
• On Wednesday, September 18th, Opaleye Management Inc. purchased 61,000 shares of Codexis stock. The stock was purchased at an average price of $3.16 per share, with a total value of $192,760.00.

Codexis Stock Down 1.0 %

Shares of NASDAQ CDXS opened at $2.89 on Wednesday. The firm has a market cap of $203.91 million, a P/E ratio of -3.11 and a beta of 2.07. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.92 and a current ratio of 2.99. Codexis, Inc. has a 1 year low of $1.45 and a 1 year high of $4.91. The firm’s 50 day moving average price is $3.09 and its 200 day moving average price is $3.18.

Codexis (NASDAQ:CDXS) last released its earnings results on Thursday, August 8th. The biotechnology company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Codexis had a negative net margin of 125.41% and a negative return on equity of 64.06%. The business had revenue of $7.98 million during the quarter, compared to analyst estimates of $7.64 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. As a group, sell-side analysts anticipate that Codexis, Inc. will post -0.75 earnings per share for the current year.

Hedge Funds Weigh In On Codexis

A number of hedge funds have recently made changes to their positions in CDXS. Los Angeles Capital Management LLC acquired a new stake in shares of Codexis during the 2nd quarter worth $54,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Codexis during the first quarter valued at about $97,000. State Board of Administration of Florida Retirement System increased its stake in Codexis by 57.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock worth $99,000 after acquiring an additional 10,395 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Codexis in the 2nd quarter worth about $89,000. Finally, SG Americas Securities LLC lifted its stake in shares of Codexis by 72.6% in the 2nd quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company’s stock valued at $114,000 after purchasing an additional 15,425 shares in the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CDXS. Benchmark cut shares of Codexis from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Jefferies Financial Group assumed coverage on shares of Codexis in a research report on Monday, June 3rd. They issued a “buy” rating and a $5.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price objective on shares of Codexis in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $8.75.

About Codexis

Codexis, Inc discovers, develops, and sells enzymes and other proteins. The company operates through two segments, Performance Enzymes and Novel Biotherapeutics. It offers biocatalyst products and services. The company also provides biocatalyst screening and protein engineering services. In addition, it offers CodeEvolver, a technology platform, which helps in developing and delivering biocatalysts that perform chemical transformations and enhance the efficiency and productivity of manufacturing processes.