Intech Investment Management LLC Invests $66,000 in Codexis, Inc. (NASDAQ:CDXS)

Intech Investment Management LLC bought a new position in shares of Codexis, Inc. (NASDAQ:CDXS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,354 shares of the biotechnology company’s stock, valued at approximately $66,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CDXS. abrdn plc grew its holdings in Codexis by 62.5% during the third quarter. abrdn plc now owns 800,410 shares of the biotechnology company’s stock worth $2,465,000 after buying an additional 307,762 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Codexis by 23.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,103,442 shares of the biotechnology company’s stock worth $3,399,000 after purchasing an additional 209,207 shares during the last quarter. Vanguard Group Inc. grew its stake in Codexis by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 4,258,201 shares of the biotechnology company’s stock valued at $14,861,000 after purchasing an additional 129,773 shares during the period. AQR Capital Management LLC increased its position 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 valued at $736,000 after purchasing an additional 107,205 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in 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 buying an additional 87,457 shares during the period. Institutional investors own 78.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CDXS. Benchmark restated a “hold” rating on shares of Codexis in a research note on Monday, November 4th. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 target price on shares of Codexis in a research report on Friday, November 22nd.

Codexis Price Performance

CDXS stock opened at $4.73 on Monday. The firm’s fifty day moving average is $3.74 and its 200 day moving average is $3.33. Codexis, Inc. has a 52 week low of $1.85 and a 52 week high of $4.99. The firm has a market cap of $384.93 million, a P/E ratio of -5.44 and a beta of 2.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.15 and a current ratio of 3.21.

Codexis (NASDAQ:CDXS) last issued its earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.04). The firm had revenue of $12.83 million during the quarter, compared to analysts’ expectations of $11.64 million. Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. During the same period in the previous year, the firm earned ($0.26) earnings per share. Research analysts predict that Codexis, Inc. will post -0.77 earnings per share for the current year.

Insider Activity

In other news, major shareholder Opaleye Management Inc. purchased 61,000 shares of Codexis stock in a transaction that occurred on Wednesday, September 18th. The shares were bought at an average cost of $3.16 per share, with a total value of $192,760.00. Following the completion of the purchase, the insider now directly owns 7,380,000 shares in the company, valued at approximately $23,320,800. This trade represents a 0.83 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders bought a total of 1,166,000 shares of company stock worth $3,514,910 in the last quarter. 2.10% of the stock is owned by company insiders.

Codexis 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.