BNP Paribas Financial Markets Trims Position in Codexis, Inc. (NASDAQ:CDXS)

BNP Paribas Financial Markets decreased its position in shares of Codexis, Inc. (NASDAQ:CDXS) by 86.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,762 shares of the biotechnology company’s stock after selling 89,257 shares during the quarter. BNP Paribas Financial Markets’ holdings in Codexis were worth $42,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Los Angeles Capital Management LLC purchased a new position in shares of Codexis in the second quarter valued at about $54,000. Intech Investment Management LLC purchased a new position in Codexis in the 3rd quarter worth approximately $66,000. Marshall Wace LLP purchased a new position in Codexis in the 2nd quarter worth approximately $89,000. SG Americas Securities LLC boosted its stake in Codexis by 72.6% in the 2nd quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 15,425 shares during the period. Finally, Algert Global LLC grew its holdings in Codexis by 17.1% during the 2nd quarter. Algert Global LLC now owns 41,556 shares of the biotechnology company’s stock valued at $129,000 after buying an additional 6,069 shares in the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CDXS shares. Benchmark reissued a “hold” rating on shares of Codexis in a report on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $11.00 price target on shares of Codexis in a research note on Friday, November 22nd.

Codexis Stock Down 1.3 %

Shares of CDXS opened at $5.12 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.21 and a quick ratio of 3.15. The stock has a market capitalization of $416.66 million, a price-to-earnings ratio of -5.88 and a beta of 2.15. Codexis, Inc. has a 1 year low of $2.53 and a 1 year high of $6.08. The business’s 50 day simple moving average is $4.18 and its 200-day simple moving average is $3.47.

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

Insider Buying and Selling

In related news, major shareholder Opaleye Management Inc. purchased 45,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was bought at an average cost of $2.94 per share, for a total transaction of $132,300.00. Following the completion of the transaction, the insider now directly owns 8,435,000 shares in the company, valued at $24,798,900. This represents a 0.54 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.10% of the stock is currently owned by company insiders.

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.