State Street Corp Acquires 41,480 Shares of Codexis, Inc. (NASDAQ:CDXS)

State Street Corp boosted its holdings in shares of Codexis, Inc. (NASDAQ:CDXS) by 2.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,551,411 shares of the biotechnology company’s stock after purchasing an additional 41,480 shares during the quarter. State Street Corp owned about 1.91% of Codexis worth $4,778,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. boosted its position in shares of 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 valued at $3,399,000 after acquiring an additional 209,207 shares during the period. abrdn plc increased its position 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 acquiring an additional 307,762 shares during the period. GSA Capital Partners LLP raised its stake in Codexis by 83.5% during the 3rd quarter. GSA Capital Partners LLP now owns 99,629 shares of the biotechnology company’s stock valued at $307,000 after purchasing an additional 45,337 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Codexis by 12.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 284,166 shares of the biotechnology company’s stock valued at $881,000 after purchasing an additional 32,138 shares during the period. Finally, American Century Companies Inc. grew its position in Codexis by 18.9% in the 2nd quarter. American Century Companies Inc. now owns 100,734 shares of the biotechnology company’s stock worth $312,000 after purchasing an additional 16,019 shares during the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Codexis Trading Up 0.4 %

Shares of CDXS stock opened at $4.99 on Monday. The firm has a fifty day moving average of $4.38 and a 200-day moving average of $3.54. The stock has a market cap of $406.08 million, a price-to-earnings ratio of -5.74 and a beta of 2.15. Codexis, Inc. has a 52-week low of $2.53 and a 52-week high of $6.08. 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 posted its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by ($0.04). The business had revenue of $12.83 million during the quarter, compared to analyst estimates 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 last year, the company earned ($0.26) EPS. On average, equities research analysts forecast that Codexis, Inc. will post -0.77 earnings per share for the current fiscal year.

About Codexis

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.