Nantahala Capital Management LLC Sells 832,256 Shares of Codexis, Inc. (NASDAQ:CDXS)

Nantahala Capital Management LLC cut its holdings in Codexis, Inc. (NASDAQ:CDXS) by 18.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,629,622 shares of the biotechnology company’s stock after selling 832,256 shares during the period. Codexis accounts for approximately 0.7% of Nantahala Capital Management LLC’s portfolio, making the stock its 27th biggest holding. Nantahala Capital Management LLC owned 5.14% of Codexis worth $11,252,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Opaleye Management Inc. increased its position in Codexis by 172.2% in the 4th quarter. Opaleye Management Inc. now owns 3,045,525 shares of the biotechnology company’s stock worth $9,289,000 after buying an additional 1,926,625 shares during the period. Kent Lake Capital LLC bought a new stake in shares of Codexis in the first quarter valued at about $2,197,000. GSA Capital Partners LLP grew its position in 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 buying an additional 420,977 shares in the last quarter. Platinum Investment Management Ltd. bought a new position in Codexis during the first quarter valued at about $802,000. Finally, Vanguard Group Inc. raised its holdings in Codexis by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 4,258,201 shares of the biotechnology company’s stock valued at $14,861,000 after acquiring an additional 129,773 shares in the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.

Insider Activity at Codexis

In other news, major shareholder Opaleye Management Inc. bought 61,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was acquired 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 $23,320,800. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders purchased 1,166,000 shares of company stock valued at $3,514,910. Insiders own 2.10% of the company’s stock.

Codexis Price Performance

NASDAQ CDXS opened at $3.08 on Tuesday. Codexis, Inc. has a 12-month low of $1.51 and a 12-month high of $4.91. The firm’s 50 day moving average is $3.06 and its 200-day moving average is $3.17. The company has a market capitalization of $217.32 million, a PE ratio of -3.31 and a beta of 2.07. 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 results on Thursday, August 8th. The biotechnology company reported ($0.32) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $7.64 million. During the same period last year, the firm earned ($0.17) earnings per share. Equities research analysts anticipate that Codexis, Inc. will post -0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

CDXS has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 target price on shares of Codexis in a research note on Friday, September 20th. Benchmark cut Codexis from a “buy” rating to a “hold” rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group assumed coverage on shares of Codexis in a research report on Monday, June 3rd. They issued a “buy” rating and a $5.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.75.

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.