Assenagon Asset Management S.A. Boosts Stock Position in Codexis, Inc. (NASDAQ:CDXS)

Assenagon Asset Management S.A. boosted its position in Codexis, Inc. (NASDAQ:CDXS) by 23.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,103,442 shares of the biotechnology company’s stock after purchasing an additional 209,207 shares during the quarter. Assenagon Asset Management S.A. owned about 1.56% of Codexis worth $3,399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of CDXS. Kent Lake Capital LLC acquired a new stake in shares of Codexis during the first quarter worth $2,197,000. Platinum Investment Management Ltd. purchased a new position in shares of Codexis during the 1st quarter worth about $802,000. Vanguard Group Inc. lifted its holdings in shares of Codexis by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 4,258,201 shares of the biotechnology company’s stock worth $14,861,000 after acquiring an additional 129,773 shares during the period. Perkins Capital Management Inc. boosted 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 worth $557,000 after acquiring an additional 113,000 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Codexis by 82.4% during the second quarter. AQR Capital Management LLC now owns 237,272 shares of the biotechnology company’s stock worth $736,000 after purchasing an additional 107,205 shares during the period. Institutional investors and hedge funds own 78.54% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Opaleye Management Inc. purchased 1,055,000 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were purchased at an average cost of $3.01 per share, with a total value of $3,175,550.00. Following the completion of the acquisition, the insider now directly owns 8,390,000 shares of the company’s stock, valued at approximately $25,253,900. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have acquired 1,166,000 shares of company stock worth $3,514,910 in the last three months. 2.10% of the stock is owned by insiders.

Codexis Stock Performance

Codexis stock opened at $3.21 on Thursday. The firm has a market capitalization of $227.68 million, a PE ratio of -2.97 and a beta of 2.08. The stock’s 50 day moving average price is $3.04 and its 200 day moving average price is $3.14. Codexis, Inc. has a one year low of $1.51 and a one year high of $4.91. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.92 and a current ratio of 2.99.

Codexis (NASDAQ:CDXS) last posted its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). Codexis had a negative net margin of 125.41% and a negative return on equity of 64.06%. The firm had revenue of $7.98 million during the quarter, compared to analysts’ expectations of $7.64 million. During the same period in the previous year, the company earned ($0.17) earnings per share. As a group, sell-side analysts expect that Codexis, Inc. will post -0.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CDXS shares. 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. Benchmark cut shares of Codexis from a “buy” rating to a “hold” rating in a research 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. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.75.

Codexis Company 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.