Codexis (NASDAQ:CDXS) issued its quarterly earnings results on Thursday. The biotechnology company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.03, Morningstar.com reports. The company had revenue of $16.95 million for the quarter, compared to the consensus estimate of $14.63 million. Codexis had a negative return on equity of 61.93% and a negative net margin of 29.83%. Codexis updated its FY 2018 guidance to EPS.
Shares of NASDAQ:CDXS traded down $1.01 during trading on Friday, hitting $15.71. 341,487 shares of the stock were exchanged, compared to its average volume of 301,554. Codexis has a 1-year low of $5.70 and a 1-year high of $19.60. The firm has a market capitalization of $905.96 million, a PE ratio of -31.42 and a beta of -1.60.
In related news, Director Bernard J. Kelley sold 10,207 shares of the business’s stock in a transaction on Friday, September 21st. The stock was sold at an average price of $18.12, for a total value of $184,950.84. Following the sale, the director now owns 215,461 shares of the company’s stock, valued at approximately $3,904,153.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John J. Nicols sold 14,259 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $15.14, for a total value of $215,881.26. Following the completion of the sale, the insider now directly owns 1,084,538 shares in the company, valued at approximately $16,419,905.32. The disclosure for this sale can be found here. Insiders have sold a total of 508,329 shares of company stock worth $8,354,797 in the last three months. 11.40% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in CDXS. Millennium Management LLC acquired a new stake in Codexis in the 1st quarter valued at $349,000. Campbell & CO Investment Adviser LLC acquired a new stake in Codexis in the 2nd quarter valued at $146,000. Baillie Gifford & Co. boosted its stake in Codexis by 14.9% in the 2nd quarter. Baillie Gifford & Co. now owns 2,646,240 shares of the biotechnology company’s stock valued at $38,107,000 after buying an additional 343,261 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in Codexis in the 2nd quarter valued at $891,000. Finally, Gilder Gagnon Howe & Co. LLC boosted its stake in Codexis by 5.6% in the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 219,435 shares of the biotechnology company’s stock valued at $3,160,000 after buying an additional 11,562 shares in the last quarter. 77.40% of the stock is currently owned by institutional investors and hedge funds.
CDXS has been the topic of several recent analyst reports. BidaskClub downgraded Codexis from a “buy” rating to a “hold” rating in a research report on Thursday, July 26th. Zacks Investment Research raised Codexis from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Thursday, August 16th. Finally, Craig Hallum lifted their price objective on Codexis from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, September 5th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Codexis has an average rating of “Buy” and a consensus price target of $16.40.
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Codexis, Inc discovers, develops, and sells protein catalysts. It also offers intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides protein catalyst screening and protein engineering services.
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