Codexis, Inc. (NASDAQ:CDXS) major shareholder Ventures Vii Affiliates F. Vivo sold 1,060,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $5.78, for a total transaction of $6,126,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of Codexis, Inc. (CDXS) opened at 5.75 on Wednesday. The stock has a 50 day moving average of $5.43 and a 200-day moving average of $4.93. The firm’s market cap is $277.86 million. Codexis, Inc. has a 1-year low of $3.60 and a 1-year high of $5.98.
Codexis (NASDAQ:CDXS) last released its quarterly earnings results on Wednesday, August 9th. The biotechnology company reported ($0.13) EPS for the quarter, meeting the consensus estimate of ($0.13). Codexis had a negative net margin of 40.70% and a negative return on equity of 83.39%. The firm had revenue of $10.30 million during the quarter, compared to the consensus estimate of $9.61 million. During the same quarter in the prior year, the firm earned $0.12 EPS. Codexis’s revenue for the quarter was down 35.6% on a year-over-year basis. Equities analysts anticipate that Codexis, Inc. will post ($0.38) EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in CDXS. Prescott Group Capital Management L.L.C. raised its position in Codexis by 607.8% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 2,040,324 shares of the biotechnology company’s stock valued at $11,120,000 after purchasing an additional 1,752,049 shares during the last quarter. Vanguard Group Inc. raised its position in Codexis by 64.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,766,533 shares of the biotechnology company’s stock valued at $9,627,000 after purchasing an additional 692,362 shares during the last quarter. William Blair Investment Management LLC raised its position in Codexis by 40.2% in the 1st quarter. William Blair Investment Management LLC now owns 986,839 shares of the biotechnology company’s stock valued at $4,737,000 after purchasing an additional 282,909 shares during the last quarter. Baillie Gifford & Co. raised its position in Codexis by 23.3% in the 2nd quarter. Baillie Gifford & Co. now owns 1,461,413 shares of the biotechnology company’s stock valued at $7,965,000 after purchasing an additional 276,280 shares during the last quarter. Finally, First Light Asset Management LLC purchased a new stake in Codexis in the 2nd quarter valued at $1,499,000. Hedge funds and other institutional investors own 63.62% of the company’s stock.
A number of research analysts have issued reports on CDXS shares. Zacks Investment Research cut shares of Codexis from a “hold” rating to a “sell” rating in a report on Tuesday, May 23rd. ValuEngine raised shares of Codexis from a “sell” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub raised shares of Codexis from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Jefferies Group LLC started coverage on shares of Codexis in a report on Wednesday, May 31st. They issued a “buy” rating and a $8.00 price target for the company. Finally, HC Wainwright set a $8.00 price target on shares of Codexis and gave the stock a “buy” rating in a report on Friday, August 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $6.80.
Codexis, Inc is a developer of biocatalysts for the pharmaceutical and fine chemicals markets. The Company’s CodeEvolver protein engineering technology platform, which introduces genetic mutations into genes in order to give rise to changes in the enzymes that they produce, overcomes many of the limitations, allowing customers to evolve and optimize biocatalysts to perform specific and desired chemical reactions at commercial scale.
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