BNP Paribas Financial Markets Sells 89,257 Shares of Codexis, Inc. (NASDAQ:CDXS)

BNP Paribas Financial Markets lessened its stake in shares of Codexis, Inc. (NASDAQ:CDXS) by 86.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,762 shares of the biotechnology company’s stock after selling 89,257 shares during the period. BNP Paribas Financial Markets’ holdings in Codexis were worth $42,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CDXS. Los Angeles Capital Management LLC purchased a new position in Codexis during the 2nd quarter worth $54,000. Intech Investment Management LLC bought a new position in shares of Codexis during the 3rd quarter worth $66,000. Marshall Wace LLP purchased a new position in shares of Codexis during the second quarter valued at $89,000. SG Americas Securities LLC raised its holdings in shares of Codexis by 72.6% in the second quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company’s stock valued at $114,000 after acquiring an additional 15,425 shares in the last quarter. Finally, Algert Global LLC raised its holdings in shares of Codexis by 17.1% in the second quarter. Algert Global LLC now owns 41,556 shares of the biotechnology company’s stock valued at $129,000 after acquiring an additional 6,069 shares in the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.

Codexis Trading Down 1.3 %

Shares of NASDAQ CDXS opened at $5.12 on Friday. Codexis, Inc. has a 1-year low of $2.53 and a 1-year high of $6.08. The business has a fifty day moving average price of $4.18 and a 200 day moving average price of $3.47. The stock has a market capitalization of $416.66 million, a P/E ratio of -5.88 and a beta of 2.15. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.21 and a quick ratio of 3.15.

Codexis (NASDAQ:CDXS) last released its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.04). Codexis had a negative net margin of 96.35% and a negative return on equity of 71.56%. The firm had revenue of $12.83 million for the quarter, compared to analysts’ expectations of $11.64 million. During the same period in the previous year, the company posted ($0.26) earnings per share. Equities research analysts expect that Codexis, Inc. will post -0.77 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on CDXS. Benchmark reiterated a “hold” rating on shares of Codexis in a report on Monday, November 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price objective on shares of Codexis in a research note on Friday, November 22nd.

Insider Activity at Codexis

In other Codexis news, major shareholder Opaleye Management Inc. bought 45,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average cost of $2.94 per share, for a total transaction of $132,300.00. Following the purchase, the insider now directly owns 8,435,000 shares in the company, valued at $24,798,900. This represents a 0.54 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.10% of the stock is currently owned by corporate insiders.

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.