Principal Financial Group Inc. Sells 10,303 Shares of Codexis, Inc. (NASDAQ:CDXS)

Principal Financial Group Inc. reduced its holdings in Codexis, Inc. (NASDAQ:CDXS) by 49.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,734 shares of the biotechnology company’s stock after selling 10,303 shares during the quarter. Principal Financial Group Inc.’s holdings in Codexis were worth $33,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CDXS. GSA Capital Partners LLP raised its position 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 worth $2,553,000 after purchasing an additional 420,977 shares during the period. Private Advisor Group LLC raised its holdings in Codexis by 3.9% during the fourth quarter. Private Advisor Group LLC now owns 189,486 shares of the biotechnology company’s stock worth $578,000 after buying an additional 7,065 shares during the last quarter. Opaleye Management Inc. lifted its stake in shares of Codexis by 172.2% in the fourth quarter. Opaleye Management Inc. now owns 3,045,525 shares of the biotechnology company’s stock valued at $9,289,000 after buying an additional 1,926,625 shares in the last quarter. Baillie Gifford & Co. grew 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 buying an additional 26,216 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Codexis during the first quarter worth about $97,000. 78.54% of the stock is owned by institutional investors and hedge funds.

Codexis Price Performance

NASDAQ:CDXS opened at $2.85 on Tuesday. Codexis, Inc. has a 52-week low of $1.45 and a 52-week high of $4.91. The stock has a fifty day moving average of $3.11 and a 200 day moving average of $3.21. 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 firm has a market capitalization of $201.09 million, a price-to-earnings ratio of -3.06 and a beta of 2.07.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.32) EPS 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 quarter last year, the company posted ($0.17) earnings per share. On average, research analysts expect that Codexis, Inc. will post -0.75 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CDXS shares. Jefferies Financial Group began coverage on Codexis in a report on Monday, June 3rd. They set a “buy” rating and a $5.00 price target for the company. Benchmark downgraded shares of Codexis from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 price target on shares of Codexis in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Codexis presently has an average rating of “Hold” and an average price target of $8.75.

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.