Codexis, Inc. (NASDAQ:CDXS) Major Shareholder Opaleye Management Inc. Purchases 61,000 Shares of Stock

Codexis, Inc. (NASDAQ:CDXS) major shareholder Opaleye Management Inc. bought 61,000 shares of the business’s 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 of the company’s stock, valued at approximately $23,320,800. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Codexis Stock Performance

Shares of NASDAQ:CDXS opened at $3.21 on Friday. Codexis, Inc. has a 52 week low of $1.45 and a 52 week high of $4.91. The stock has a market capitalization of $226.49 million, a P/E ratio of -3.45 and a beta of 2.07. The firm has a fifty day simple moving average of $3.11 and a two-hundred day simple moving average of $3.20. The company has a quick ratio of 2.92, a current ratio of 2.99 and a debt-to-equity ratio of 0.46.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). Codexis had a negative return on equity of 64.06% and a negative net margin of 125.41%. The business had revenue of $7.98 million during the quarter, compared to analysts’ expectations of $7.64 million. During the same period in the previous year, the business earned ($0.17) earnings per share. On average, analysts expect that Codexis, Inc. will post -0.75 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Codexis

Large investors have recently made changes to their positions in the company. GSA Capital Partners LLP boosted its stake in shares of Codexis by 101.2% during the 4th 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. Opaleye Management Inc. lifted its holdings in Codexis by 172.2% during the 4th 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. lifted its holdings in Codexis by 0.8% during the 1st 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 in the last quarter. Private Advisor Group LLC lifted its holdings in Codexis by 22.1% during the 1st quarter. Private Advisor Group LLC now owns 231,341 shares of the biotechnology company’s stock valued at $807,000 after buying an additional 41,855 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Codexis during the 1st quarter valued at about $97,000. 78.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CDXS shares. Benchmark cut shares of Codexis from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Jefferies Financial Group began coverage on shares of Codexis in a research note 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 issued a $11.00 price objective on shares of Codexis in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.