Bernard J. Kelley Sells 10,207 Shares of Codexis, Inc. (CDXS) Stock

Codexis, Inc. (NASDAQ:CDXS) Director Bernard J. Kelley sold 10,207 shares of the company’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $18.12, for a total value of $184,950.84. Following the transaction, the director now directly owns 215,461 shares of the company’s stock, valued at $3,904,153.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NASDAQ:CDXS traded up $0.60 during trading on Tuesday, hitting $19.10. 264,000 shares of the company traded hands, compared to its average volume of 362,307. The firm has a market capitalization of $963.22 million, a PE ratio of -37.69 and a beta of -2.09. Codexis, Inc. has a one year low of $5.70 and a one year high of $19.30.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.06. The business had revenue of $13.54 million during the quarter, compared to the consensus estimate of $11.87 million. Codexis had a negative return on equity of 61.93% and a negative net margin of 29.83%. sell-side analysts forecast that Codexis, Inc. will post -0.2 EPS for the current fiscal year.

CDXS has been the subject of several recent research reports. BidaskClub lowered Codexis from a “buy” rating to a “hold” rating in a report on Thursday, July 26th. Zacks Investment Research raised Codexis from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Thursday, August 16th. Cowen initiated coverage on Codexis in a report on Tuesday, June 19th. They set an “outperform” rating and a $18.00 target price for the company. Finally, Craig Hallum upped their target price on Codexis from $15.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, September 5th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Codexis has an average rating of “Buy” and an average target price of $15.50.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Codexis by 27.3% during the second quarter. BlackRock Inc. now owns 3,402,575 shares of the biotechnology company’s stock worth $48,996,000 after buying an additional 729,552 shares during the period. Baillie Gifford & Co. boosted its position in shares of Codexis by 14.9% during the second quarter. Baillie Gifford & Co. now owns 2,646,240 shares of the biotechnology company’s stock worth $38,107,000 after buying an additional 343,261 shares during the period. Opaleye Management Inc. boosted its position in shares of Codexis by 2.9% during the second quarter. Opaleye Management Inc. now owns 1,750,000 shares of the biotechnology company’s stock worth $25,200,000 after buying an additional 49,400 shares during the period. Wells Fargo & Company MN boosted its position in shares of Codexis by 13.9% during the second quarter. Wells Fargo & Company MN now owns 1,345,674 shares of the biotechnology company’s stock worth $19,378,000 after buying an additional 164,347 shares during the period. Finally, First Light Asset Management LLC boosted its position in shares of Codexis by 32.8% during the second quarter. First Light Asset Management LLC now owns 841,419 shares of the biotechnology company’s stock worth $12,116,000 after buying an additional 207,754 shares during the period. Institutional investors and hedge funds own 77.35% of the company’s stock.

Codexis Company Profile

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.

Further Reading: What is Compound Annual Growth Rate (CAGR)?

Insider Buying and Selling by Quarter for Codexis (NASDAQ:CDXS)

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