Potomac Capital Management Inc. acquired a new position in shares of Codexis, Inc. (NASDAQ:CDXS – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 300,000 shares of the biotechnology company’s stock, valued at approximately $489,000. Potomac Capital Management Inc. owned approximately 0.33% of Codexis as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently bought and sold shares of CDXS. Millennium Management LLC boosted its holdings in Codexis by 3,376.5% in the 3rd quarter. Millennium Management LLC now owns 4,067,559 shares of the biotechnology company’s stock valued at $9,925,000 after purchasing an additional 3,950,557 shares during the period. Aberdeen Group plc raised its position in shares of Codexis by 94.7% during the 4th quarter. Aberdeen Group plc now owns 7,966,498 shares of the biotechnology company’s stock valued at $12,985,000 after buying an additional 3,874,436 shares in the last quarter. Opaleye Management Inc. raised its position in shares of Codexis by 32.6% during the 2nd quarter. Opaleye Management Inc. now owns 12,600,000 shares of the biotechnology company’s stock valued at $30,744,000 after buying an additional 3,100,000 shares in the last quarter. Prescott Group Capital Management L.L.C. raised its position in shares of Codexis by 304.1% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 2,568,359 shares of the biotechnology company’s stock valued at $4,186,000 after buying an additional 1,932,814 shares in the last quarter. Finally, Nantahala Capital Management LLC lifted its stake in Codexis by 42.4% in the second quarter. Nantahala Capital Management LLC now owns 4,030,619 shares of the biotechnology company’s stock worth $9,835,000 after purchasing an additional 1,200,000 shares during the last quarter. 78.54% of the stock is owned by institutional investors.
Codexis Stock Performance
Codexis stock opened at $2.47 on Wednesday. Codexis, Inc. has a 1-year low of $0.96 and a 1-year high of $3.87. The company has a current ratio of 5.36, a quick ratio of 5.23 and a debt-to-equity ratio of 0.94. The firm has a 50-day moving average of $2.46 and a 200-day moving average of $1.85. The firm has a market cap of $224.52 million, a P/E ratio of -6.68 and a beta of 2.48.
Analyst Upgrades and Downgrades
Several research firms have weighed in on CDXS. Wall Street Zen downgraded shares of Codexis from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Stifel Nicolaus set a $5.00 price target on shares of Codexis in a research note on Thursday, March 12th. Weiss Ratings downgraded shares of Codexis from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, May 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Codexis in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.00.
Read Our Latest Stock Report on CDXS
Codexis Profile
Codexis, Inc, headquartered in Redwood City, California, is a leading protein engineering company focused on the development of innovative enzyme solutions for pharmaceutical, food and beverage, and specialty chemical applications. The company’s proprietary directed evolution platform, CodeEvolver®, enables the rapid identification and optimization of enzymes with enhanced activity, selectivity and stability. By leveraging this technology, Codexis provides custom biocatalysts designed to improve manufacturing efficiency and reduce environmental impact.
Since its founding in 2002, Codexis has expanded its capabilities from early-stage research to commercial-scale production.
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