Codexis, Inc. (NASDAQ:CDXS) Major Shareholder Buys $132,300.00 in Stock

Codexis, Inc. (NASDAQ:CDXS) major shareholder Opaleye Management Inc. bought 45,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were bought at an average cost of $2.94 per share, for a total transaction of $132,300.00. Following the purchase, the insider now owns 8,435,000 shares of the company’s stock, valued at approximately $24,798,900. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Friday, September 20th, Opaleye Management Inc. bought 1,055,000 shares of Codexis stock. The shares were bought at an average cost of $3.01 per share, for a total transaction of $3,175,550.00.
• On Wednesday, September 18th, Opaleye Management Inc. bought 61,000 shares of Codexis stock. The shares were bought at an average cost of $3.16 per share, for a total transaction of $192,760.00.

Codexis Stock Performance

Shares of Codexis stock opened at $2.91 on Thursday. The company has a quick ratio of 2.92, a current ratio of 2.99 and a debt-to-equity ratio of 0.46. Codexis, Inc. has a twelve month low of $1.45 and a twelve month high of $4.91. The stock has a market cap of $206.41 million, a price-to-earnings ratio of -3.13 and a beta of 2.07. The company’s fifty day moving average is $3.08 and its 200 day moving average is $3.17.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). The firm had revenue of $7.98 million for the quarter, compared to the consensus estimate of $7.64 million. Codexis had a negative net margin of 125.41% and a negative return on equity of 64.06%. During the same period last year, the company posted ($0.17) EPS. Sell-side analysts forecast that Codexis, Inc. will post -0.75 EPS for the current year.

Institutional Trading of Codexis

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Codexis by 3.1% during the first quarter. Vanguard Group Inc. now owns 4,258,201 shares of the biotechnology company’s stock valued at $14,861,000 after acquiring an additional 129,773 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of Codexis by 0.8% during the first quarter. Baillie Gifford & Co. now owns 3,445,309 shares of the biotechnology company’s stock valued at $12,024,000 after purchasing an additional 26,216 shares during the period. Opaleye Management Inc. raised its holdings in shares of Codexis by 2.4% during the first quarter. Opaleye Management Inc. now owns 3,120,000 shares of the biotechnology company’s stock valued at $10,889,000 after purchasing an additional 74,475 shares during the period. GSA Capital Partners LLP raised its holdings in shares of Codexis by 101.2% during the fourth quarter. GSA Capital Partners LLP now owns 837,036 shares of the biotechnology company’s stock valued at $2,553,000 after purchasing an additional 420,977 shares during the period. Finally, Kent Lake Capital LLC acquired a new position in shares of Codexis during the first quarter valued at about $2,197,000. Institutional investors own 78.54% of the company’s stock.

Analysts Set New Price Targets

CDXS has been the topic of a number of research reports. Benchmark cut shares of Codexis from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $11.00 price objective on shares of Codexis in a research note on Friday, September 20th. Finally, Jefferies Financial Group assumed coverage on shares of Codexis in a research note on Monday, June 3rd. They issued a “buy” rating and a $5.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $8.75.

Codexis Company Profile

Codexis, Inc discovers, develops, and sells enzymes and other proteins. The company operates through two segments, Performance Enzymes and Novel Biotherapeutics. It offers biocatalyst products and services. The company also provides biocatalyst screening and protein engineering services. In addition, it offers CodeEvolver, a technology platform, which helps in developing and delivering biocatalysts that perform chemical transformations and enhance the efficiency and productivity of manufacturing processes.