Geode Capital Management LLC Boosts Stake in Codexis, Inc. (NASDAQ:CDXS)

Geode Capital Management LLC increased its position in Codexis, Inc. (NASDAQ:CDXS) by 0.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,644,039 shares of the biotechnology company’s stock after purchasing an additional 11,082 shares during the quarter. Geode Capital Management LLC owned approximately 2.02% of Codexis worth $5,065,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CDXS. abrdn plc lifted its position in Codexis by 62.5% during the third quarter. abrdn plc now owns 800,410 shares of the biotechnology company’s stock valued at $2,465,000 after buying an additional 307,762 shares during the period. Assenagon Asset Management S.A. lifted its position in Codexis by 23.4% during the 3rd 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. AQR Capital Management LLC boosted its stake in Codexis by 82.4% during the second quarter. AQR Capital Management LLC now owns 237,272 shares of the biotechnology company’s stock worth $736,000 after acquiring an additional 107,205 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Codexis by 34.5% in the second quarter. Dimensional Fund Advisors LP now owns 340,762 shares of the biotechnology company’s stock worth $1,056,000 after purchasing an additional 87,457 shares during the period. Finally, Barclays PLC increased its stake in shares of Codexis by 51.1% during the third quarter. Barclays PLC now owns 207,628 shares of the biotechnology company’s stock valued at $640,000 after purchasing an additional 70,255 shares in the last quarter. 78.54% of the stock is currently owned by institutional investors.

Codexis Stock Up 8.6 %

Codexis stock opened at $5.43 on Friday. Codexis, Inc. has a 12 month low of $2.53 and a 12 month high of $6.08. The stock has a fifty day simple moving average of $4.56 and a two-hundred day simple moving average of $3.61. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.39. The firm has a market cap of $441.88 million, a price-to-earnings ratio of -6.24 and a beta of 2.15.

Codexis (NASDAQ:CDXS) last released its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($0.29) 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 the consensus estimate 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 quarter in the previous year, the business posted ($0.26) earnings per share. Equities analysts predict that Codexis, Inc. will post -0.77 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Codexis 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.