According to Zacks, “Codexis is a leading protein engineering company that applies its proprietary CodeEvolver technology to develop proteins for a variety of applications, including as biocatalysts for the commercial manufacture of pharmaceuticals, fine chemicals and industrial enzymes, and enzymes as biotherapeutics and for use in molecular diagnostics. Codexis proven technology enables improvements in protein performance, meeting customer needs for rapid, cost-effective and sustainable manufacturing in multiple commercial-scale implementations of biocatalytic processes. “
CDXS has been the topic of several other reports. BidaskClub raised Codexis from a strong sell rating to a sell rating in a research report on Wednesday. HC Wainwright reaffirmed a buy rating and issued a $22.50 target price on shares of Codexis in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $21.25.
Shares of NASDAQ:CDXS traded up $0.06 on Thursday, hitting $15.06. The company’s stock had a trading volume of 260,900 shares, compared to its average volume of 317,845. The company has a debt-to-equity ratio of 0.25, a quick ratio of 7.34 and a current ratio of 7.37. Codexis has a 12 month low of $12.68 and a 12 month high of $23.05. The stock’s 50-day moving average is $13.84 and its two-hundred day moving average is $16.26. The company has a market capitalization of $877.77 million, a price-to-earnings ratio of -71.71 and a beta of -0.09.
Codexis (NASDAQ:CDXS) last issued its earnings results on Tuesday, November 5th. The biotechnology company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.10. Codexis had a negative return on equity of 15.24% and a negative net margin of 17.85%. The company had revenue of $21.91 million for the quarter, compared to analyst estimates of $16.56 million. Equities analysts expect that Codexis will post -0.2 earnings per share for the current fiscal year.
In related news, Director Patrick Y. Yang acquired 12,000 shares of the stock in a transaction dated Thursday, August 22nd. The shares were acquired at an average price of $12.94 per share, with a total value of $155,280.00. Following the acquisition, the director now owns 70,764 shares in the company, valued at approximately $915,686.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Patrick Y. Yang acquired 30,000 shares of the stock in a transaction dated Friday, August 30th. The shares were bought at an average cost of $8.74 per share, for a total transaction of $262,200.00. Following the acquisition, the director now owns 133,070 shares in the company, valued at approximately $1,163,031.80. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 58,000 shares of company stock worth $634,300. Insiders own 10.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CDXS. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Codexis by 79.1% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,402,457 shares of the biotechnology company’s stock valued at $19,235,000 after acquiring an additional 619,524 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its stake in Codexis by 79.1% during the 3rd quarter. Nikko Asset Management Americas Inc. now owns 1,402,457 shares of the biotechnology company’s stock valued at $19,235,000 after purchasing an additional 619,524 shares during the period. Granite Investment Partners LLC bought a new stake in Codexis during the 2nd quarter valued at approximately $10,448,000. First Light Asset Management LLC boosted its stake in Codexis by 66.6% during the 2nd quarter. First Light Asset Management LLC now owns 1,205,523 shares of the biotechnology company’s stock valued at $22,218,000 after purchasing an additional 481,763 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in Codexis during the 3rd quarter valued at approximately $4,431,000. 90.22% of the stock is currently owned by institutional investors and hedge funds.
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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