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

Codexis, Inc. (NASDAQ:CDXS) major shareholder Opaleye Management Inc. purchased 61,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was 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 owns 7,380,000 shares of the company’s stock, valued at approximately $23,320,800. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Codexis Stock Up 3.2 %

NASDAQ CDXS traded up $0.10 during trading hours on Thursday, hitting $3.21. The company’s stock had a trading volume of 385,850 shares, compared to its average volume of 495,254. The company has a market capitalization of $226.49 million, a PE ratio of -3.42 and a beta of 2.07. The company has a current ratio of 2.99, a quick ratio of 2.92 and a debt-to-equity ratio of 0.46. Codexis, Inc. has a 52 week low of $1.45 and a 52 week high of $4.91. The company’s 50-day simple moving average is $3.11 and its two-hundred day simple moving average is $3.20.

Codexis (NASDAQ:CDXS) last posted its earnings results on Thursday, August 8th. The biotechnology company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $7.98 million during the quarter, compared to the consensus estimate of $7.64 million. During the same quarter in the prior year, the business earned ($0.17) EPS. Research analysts anticipate that Codexis, Inc. will post -0.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Jefferies Financial Group assumed coverage on Codexis in a research report on Monday, June 3rd. They issued a “buy” rating and a $5.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price objective on shares of Codexis in a report on Thursday, August 29th. Finally, Benchmark cut Codexis from a “buy” rating to a “hold” rating in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Codexis currently has a consensus rating of “Hold” and an average price target of $8.75.

Hedge Funds Weigh In On Codexis

A number of hedge funds have recently bought and sold shares of CDXS. Vanguard Group Inc. lifted 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 valued at $14,861,000 after purchasing an additional 129,773 shares in the last quarter. Baillie Gifford & Co. increased its stake in Codexis by 0.8% in 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 during the last quarter. Opaleye Management Inc. lifted its position in shares of Codexis by 2.4% during the 1st quarter. Opaleye Management Inc. now owns 3,120,000 shares of the biotechnology company’s stock worth $10,889,000 after buying an additional 74,475 shares in the last quarter. GSA Capital Partners LLP boosted its stake in shares of Codexis by 101.2% in the 4th quarter. GSA Capital Partners LLP now owns 837,036 shares of the biotechnology company’s stock worth $2,553,000 after buying an additional 420,977 shares during the last quarter. Finally, Kent Lake Capital LLC bought a new position in shares of Codexis in the first quarter valued at approximately $2,197,000. 78.54% of the stock is owned by hedge funds and other institutional investors.

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.