Codexis, Inc. (NASDAQ:CDXS) Major Shareholder Buys $14,300.00 in Stock

Codexis, Inc. (NASDAQ:CDXS) major shareholder Opaleye Management Inc. acquired 5,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were bought at an average price of $2.86 per share, for a total transaction of $14,300.00. Following the completion of the purchase, the insider now owns 8,520,000 shares in the company, valued at approximately $24,367,200. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Monday, September 23rd, Opaleye Management Inc. acquired 45,000 shares of Codexis stock. The shares were bought at an average price of $2.94 per share, for a total transaction of $132,300.00.
• On Friday, September 20th, Opaleye Management Inc. acquired 1,055,000 shares of Codexis stock. The shares were bought at an average price of $3.01 per share, for a total transaction of $3,175,550.00.
• On Wednesday, September 18th, Opaleye Management Inc. bought 61,000 shares of Codexis stock. The shares were acquired at an average cost of $3.16 per share, with a total value of $192,760.00.

Codexis Trading Up 4.2 %

Shares of CDXS opened at $3.23 on Friday. The business has a 50-day moving average of $3.07 and a 200 day moving average of $3.17. Codexis, Inc. has a fifty-two week low of $1.51 and a fifty-two week high of $4.91. The firm has a market cap of $227.90 million, a P/E ratio of -3.47 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 (NASDAQ:CDXS) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.06). Codexis had a negative return on equity of 64.06% and a negative net margin of 125.41%. The firm had revenue of $7.98 million during the quarter, compared to analysts’ expectations of $7.64 million. During the same period last year, the business posted ($0.17) EPS. As a group, research analysts forecast that Codexis, Inc. will post -0.75 EPS for the current year.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Codexis

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Codexis by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 4,258,201 shares of the biotechnology company’s stock worth $14,861,000 after acquiring an additional 129,773 shares during the last quarter. Baillie Gifford & Co. grew its holdings in Codexis by 0.8% during the 1st quarter. Baillie Gifford & Co. now owns 3,445,309 shares of the biotechnology company’s stock valued at $12,024,000 after buying an additional 26,216 shares in the last quarter. Opaleye Management Inc. grew its holdings in Codexis by 2.4% during the 1st quarter. Opaleye Management Inc. now owns 3,120,000 shares of the biotechnology company’s stock valued at $10,889,000 after buying an additional 74,475 shares in the last quarter. GSA Capital Partners LLP grew its holdings in Codexis by 101.2% during the 4th quarter. GSA Capital Partners LLP now owns 837,036 shares of the biotechnology company’s stock valued at $2,553,000 after buying an additional 420,977 shares in the last quarter. Finally, Kent Lake Capital LLC purchased a new position in Codexis during the 1st quarter valued at about $2,197,000. Hedge funds and other institutional investors own 78.54% of the company’s stock.

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.