Codexis, Inc. (NASDAQ:CDXS) Major Shareholder Opaleye Management Inc. Purchases 45,000 Shares

Codexis, Inc. (NASDAQ:CDXS) major shareholder Opaleye Management Inc. bought 45,000 shares of Codexis stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average cost of $2.94 per share, for a total transaction of $132,300.00. Following the acquisition, the insider now owns 8,435,000 shares of the company’s stock, valued at $24,798,900. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Friday, September 20th, Opaleye Management Inc. bought 1,055,000 shares of Codexis stock. The stock was purchased at an average cost of $3.01 per share, for a total transaction of $3,175,550.00.
• On Wednesday, September 18th, Opaleye Management Inc. bought 61,000 shares of Codexis stock. The stock was purchased at an average cost of $3.16 per share, for a total transaction of $192,760.00.

Codexis Stock Performance

Shares of CDXS traded down $0.18 during mid-day trading on Monday, reaching $2.92. 558,421 shares of the company’s stock were exchanged, compared to its average volume of 536,447. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.99 and a quick ratio of 2.92. The stock has a market capitalization of $206.03 million, a PE ratio of -3.14 and a beta of 2.07. The business’s fifty day simple moving average is $3.11 and its 200-day simple moving average is $3.18. Codexis, Inc. has a 52-week low of $1.45 and a 52-week high of $4.91.

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

Hedge Funds Weigh In On Codexis

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Codexis by 3.1% during the first quarter. Vanguard Group Inc. now owns 4,258,201 shares of the biotechnology company’s stock worth $14,861,000 after acquiring an additional 129,773 shares during the last quarter. Baillie Gifford & Co. grew its position 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 worth $12,024,000 after acquiring an additional 26,216 shares during the last quarter. Opaleye Management Inc. grew its position in shares of Codexis by 2.4% during the first quarter. Opaleye Management Inc. now owns 3,120,000 shares of the biotechnology company’s stock worth $10,889,000 after acquiring an additional 74,475 shares during the last quarter. GSA Capital Partners LLP grew 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 acquiring an additional 420,977 shares during the last quarter. Finally, Kent Lake Capital LLC purchased a new position in Codexis in the 1st quarter valued at $2,197,000. 78.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 price objective on shares of Codexis in a report on Friday. Jefferies Financial Group assumed coverage on shares of Codexis in a report on Monday, June 3rd. They set a “buy” rating and a $5.00 price objective on the stock. Finally, Benchmark cut shares of Codexis from a “buy” rating to a “hold” rating in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $8.75.

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.