Algert Global LLC Raises Holdings in Codexis, Inc. (NASDAQ:CDXS)

Algert Global LLC boosted its stake in Codexis, Inc. (NASDAQ:CDXS) by 17.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 41,556 shares of the biotechnology company’s stock after buying an additional 6,069 shares during the quarter. Algert Global LLC owned approximately 0.06% of Codexis worth $129,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of CDXS. Kent Lake Capital LLC purchased a new stake in shares of Codexis in the first quarter valued at $2,197,000. GSA Capital Partners LLP lifted its holdings in Codexis by 101.2% in the 4th quarter. GSA Capital Partners LLP now owns 837,036 shares of the biotechnology company’s stock valued at $2,553,000 after purchasing an additional 420,977 shares in the last quarter. Platinum Investment Management Ltd. acquired a new stake in shares of Codexis during the 1st quarter worth about $802,000. Vanguard Group Inc. grew its holdings 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 worth $14,861,000 after buying an additional 129,773 shares in the last quarter. Finally, Perkins Capital Management Inc. raised its position in shares of Codexis by 242.5% in the first quarter. Perkins Capital Management Inc. now owns 159,600 shares of the biotechnology company’s stock valued at $557,000 after buying an additional 113,000 shares during the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.

Wall Street Analyst Weigh In

CDXS has been the topic of a number of analyst reports. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 target price on shares of Codexis in a research report on Friday, September 20th. 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 given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $8.75.

Insider Activity

In other Codexis news, major shareholder Opaleye Management Inc. bought 1,055,000 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was purchased at an average price of $3.01 per share, with a total value of $3,175,550.00. Following the transaction, the insider now owns 8,390,000 shares in the company, valued at $25,253,900. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought 1,166,000 shares of company stock valued at $3,514,910 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Codexis Price Performance

Codexis stock opened at $3.15 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.92 and a current ratio of 2.99. The company has a market cap of $223.43 million, a price-to-earnings ratio of -2.92 and a beta of 2.08. Codexis, Inc. has a 1 year low of $1.51 and a 1 year high of $4.91. The firm has a 50 day moving average price of $2.97 and a 200 day moving average price of $3.15.

Codexis (NASDAQ:CDXS) last released its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $7.98 million for the quarter, compared to analyst estimates of $7.64 million. During the same quarter in the previous year, the company earned ($0.17) earnings per share. Sell-side analysts predict that Codexis, Inc. will post -0.75 earnings per share for the current year.

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.