Insider Buying: Codexis, Inc. (NASDAQ:CDXS) Major Shareholder Purchases 5,000 Shares of Stock

Codexis, Inc. (NASDAQ:CDXS) major shareholder Opaleye Management Inc. purchased 5,000 shares of Codexis stock in a transaction that occurred on Wednesday, September 25th. The shares were bought at an average cost of $2.86 per share, for a total transaction of $14,300.00. Following the completion of the transaction, the insider now directly owns 8,520,000 shares in the company, valued at approximately $24,367,200. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, September 23rd, Opaleye Management Inc. purchased 45,000 shares of Codexis stock. The shares were purchased at an average cost of $2.94 per share, with a total value of $132,300.00.
• On Friday, September 20th, Opaleye Management Inc. bought 1,055,000 shares of Codexis stock. The stock was acquired 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. acquired 61,000 shares of Codexis stock. The shares were bought at an average cost of $3.16 per share, with a total value of $192,760.00.

Codexis Stock Performance

Shares of CDXS stock traded up $0.19 during trading hours on Thursday, reaching $3.10. The stock had a trading volume of 709,500 shares, compared to its average volume of 538,832. 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 firm has a 50-day simple moving average of $3.08 and a 200-day simple moving average of $3.17. The firm has a market capitalization of $219.88 million, a PE ratio of -3.18 and a beta of 2.07. Codexis, Inc. has a twelve month low of $1.50 and a twelve month high of $4.91.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.06). The business had revenue of $7.98 million for the quarter, compared to analyst estimates 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 in the prior year, the firm posted ($0.17) earnings per share. As a group, equities analysts forecast that Codexis, Inc. will post -0.75 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Jefferies Financial Group initiated coverage on Codexis in a research note on Monday, June 3rd. They issued a “buy” rating and a $5.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 price target on shares of Codexis in a research report on Friday, September 20th. Finally, Benchmark lowered shares of Codexis from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. 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 stock. According to data from MarketBeat.com, Codexis currently has a consensus rating of “Hold” and an average target price of $8.75.

Institutional Trading of Codexis

A number of institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC bought a new stake in shares of Codexis in the 2nd quarter worth approximately $54,000. Marshall Wace LLP acquired a new position in shares of Codexis in the 2nd quarter valued at about $89,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Codexis during the 1st quarter valued at $97,000. State Board of Administration of Florida Retirement System increased its position in Codexis by 57.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock worth $99,000 after purchasing an additional 10,395 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of Codexis by 72.6% during the 2nd quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 15,425 shares in the last quarter. 78.54% of the stock is owned by institutional investors and hedge funds.

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.