Bank of New York Mellon Corp Acquires 32,138 Shares of Codexis, Inc. (NASDAQ:CDXS)

Bank of New York Mellon Corp raised its holdings in shares of Codexis, Inc. (NASDAQ:CDXS) by 12.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 284,166 shares of the biotechnology company’s stock after purchasing an additional 32,138 shares during the period. Bank of New York Mellon Corp’s holdings in Codexis were worth $881,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Aristides Capital LLC bought a new position in shares of Codexis during the fourth quarter valued at approximately $189,000. Opaleye Management Inc. raised its holdings 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 purchasing an additional 1,926,625 shares in the last quarter. GSA Capital Partners LLP lifted its position 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 purchasing an additional 420,977 shares during the period. Private Advisor Group LLC lifted its position in shares of Codexis by 22.1% in the 1st quarter. Private Advisor Group LLC now owns 231,341 shares of the biotechnology company’s stock worth $807,000 after purchasing an additional 41,855 shares during the period. Finally, Baillie Gifford & Co. boosted its stake in shares of Codexis by 0.8% during the 1st quarter. Baillie Gifford & Co. now owns 3,445,309 shares of the biotechnology company’s stock valued at $12,024,000 after purchasing an additional 26,216 shares in the last quarter. Hedge funds and other institutional investors own 78.54% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Codexis

In related news, major shareholder Opaleye Management Inc. bought 61,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were purchased 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 in the company, valued at approximately $23,320,800. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.10% of the stock is owned by company insiders.

Codexis Trading Down 3.4 %

NASDAQ:CDXS opened at $3.10 on Friday. The firm has a market capitalization of $218.73 million, a P/E ratio of -3.33 and a beta of 2.07. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.99 and a quick ratio of 2.92. Codexis, Inc. has a one year low of $1.45 and a one year high of $4.91. The company’s 50-day simple moving average is $3.11 and its 200 day simple moving average is $3.19.

Codexis (NASDAQ:CDXS) last released its earnings results 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 analysts’ expectations of $7.64 million. Codexis had a negative net margin of 125.41% and a negative return on equity of 64.06%. During the same quarter in the previous year, the business posted ($0.17) earnings per share. As a group, analysts forecast that Codexis, Inc. will post -0.75 EPS for the current fiscal year.

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.