Insider Buying: Codexis, Inc. (NASDAQ:CDXS) Major Shareholder Buys $192,760.00 in Stock

Codexis, Inc. (NASDAQ:CDXS) major shareholder Opaleye Management Inc. acquired 61,000 shares of Codexis stock in a transaction dated Wednesday, September 18th. The shares were acquired at an average price of $3.16 per share, with a total value of $192,760.00. Following the completion of the transaction, the insider now owns 7,380,000 shares of the company’s stock, valued at approximately $23,320,800. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Codexis Stock Performance

Shares of NASDAQ CDXS opened at $3.10 on Friday. Codexis, Inc. has a 1 year low of $1.45 and a 1 year high of $4.91. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.92 and a current ratio of 2.99. The stock has a fifty day moving average price of $3.11 and a two-hundred day moving average price of $3.19. The firm has a market cap of $218.73 million, a P/E ratio of -3.33 and a beta of 2.07.

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

Hedge Funds Weigh In On Codexis

Several hedge funds have recently made changes to their positions in the business. Algert Global LLC boosted its holdings in Codexis by 17.1% during the second quarter. Algert Global LLC now owns 41,556 shares of the biotechnology company’s stock worth $129,000 after buying an additional 6,069 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Codexis by 82.4% during the 2nd quarter. AQR Capital Management LLC now owns 237,272 shares of the biotechnology company’s stock worth $736,000 after acquiring an additional 107,205 shares in the last quarter. Squarepoint Ops LLC grew its holdings in shares of Codexis by 113.8% in the 2nd quarter. Squarepoint Ops LLC now owns 74,531 shares of the biotechnology company’s stock worth $231,000 after acquiring an additional 39,664 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Codexis during the second quarter worth $89,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Codexis by 34.5% during the second quarter. Dimensional Fund Advisors LP now owns 340,762 shares of the biotechnology company’s stock valued at $1,056,000 after purchasing an additional 87,457 shares during the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CDXS. Benchmark lowered Codexis from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Jefferies Financial Group started coverage on shares of Codexis in a report on Monday, June 3rd. They issued a “buy” rating and a $5.00 price objective for the company. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 target price on shares of Codexis in a research note on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Codexis presently has an average rating of “Hold” and a consensus 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.