Jackson Square Capital LLC Takes Position in Codexis, Inc. (NASDAQ:CDXS)

Jackson Square Capital LLC purchased a new stake in shares of Codexis, Inc. (NASDAQ:CDXS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 43,996 shares of the biotechnology company’s stock, valued at approximately $210,000. Jackson Square Capital LLC owned 0.05% of Codexis at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CDXS. Tallon Kerry Patrick purchased a new position in shares of Codexis during the fourth quarter valued at $2,018,000. abrdn plc grew its stake in Codexis by 62.5% in the third quarter. abrdn plc now owns 800,410 shares of the biotechnology company’s stock valued at $2,465,000 after purchasing an additional 307,762 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Codexis by 23.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,103,442 shares of the biotechnology company’s stock valued at $3,399,000 after purchasing an additional 209,207 shares during the last quarter. AQR Capital Management LLC grew its stake in Codexis by 82.4% in the second quarter. AQR Capital Management LLC now owns 237,272 shares of the biotechnology company’s stock valued at $736,000 after purchasing an additional 107,205 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Codexis by 34.5% in the second quarter. Dimensional Fund Advisors LP now owns 340,762 shares of the biotechnology company’s stock valued at $1,056,000 after purchasing an additional 87,457 shares during the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.

Codexis Price Performance

Shares of CDXS stock opened at $5.00 on Friday. Codexis, Inc. has a fifty-two week low of $2.53 and a fifty-two week high of $6.08. The firm has a market capitalization of $406.90 million, a price-to-earnings ratio of -5.75 and a beta of 2.13. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.15 and a current ratio of 3.21. The stock’s 50-day simple moving average is $4.80 and its 200-day simple moving average is $3.73.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.04). Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. The business had revenue of $12.83 million for the quarter, compared to analysts’ expectations of $11.64 million. During the same quarter in the previous year, the firm posted ($0.26) EPS. As a group, equities analysts forecast that Codexis, Inc. will post -0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CDXS has been the topic of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 target price on shares of Codexis in a research note on Friday, November 22nd. Benchmark reiterated a “hold” rating on shares of Codexis in a research note on Monday, November 4th.

Codexis Company Profile

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.