Insider Buying: Codexis, Inc. (NASDAQ:CDXS) Major Shareholder Purchases 5,000 Shares of Stock

Codexis, Inc. (NASDAQ:CDXS) major shareholder Opaleye Management Inc. acquired 5,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was acquired at an average cost of $2.86 per share, with a total value of $14,300.00. Following the acquisition, the insider now directly owns 8,520,000 shares in the company, valued at $24,367,200. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Monday, September 23rd, Opaleye Management Inc. bought 45,000 shares of Codexis stock. The shares were acquired at an average cost of $2.94 per share, for a total transaction of $132,300.00.
• On Friday, September 20th, Opaleye Management Inc. purchased 1,055,000 shares of Codexis stock. The shares were bought at an average cost of $3.01 per share, for a total transaction of $3,175,550.00.
• On Wednesday, September 18th, Opaleye Management Inc. acquired 61,000 shares of Codexis stock. The stock was bought at an average cost of $3.16 per share, with a total value of $192,760.00.

Codexis Trading Up 4.2 %

CDXS opened at $3.23 on Friday. The company has a market cap of $229.10 million, a P/E ratio of -3.47 and a beta of 2.07. The company has a current ratio of 2.99, a quick ratio of 2.92 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $3.07 and its 200-day moving average is $3.17. Codexis, Inc. has a 1-year low of $1.51 and a 1-year high of $4.91.

Codexis (NASDAQ:CDXS) last issued its earnings results 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). The company had revenue of $7.98 million during the quarter, compared to analyst estimates 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 prior year, the business earned ($0.17) EPS. Equities research analysts predict that Codexis, Inc. will post -0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CDXS. Jefferies Financial Group initiated coverage on Codexis in a research report on Monday, June 3rd. They issued a “buy” rating and a $5.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $11.00 target price on shares of Codexis in a research report on Friday, September 20th. Finally, Benchmark lowered shares of Codexis from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.75.

Hedge Funds Weigh In On Codexis

Institutional investors and hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new stake in shares of Codexis during the second quarter worth about $54,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Codexis in the 1st quarter valued at approximately $97,000. State Board of Administration of Florida Retirement System raised its stake in shares of Codexis by 57.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock valued at $99,000 after acquiring an additional 10,395 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Codexis during the second quarter worth $89,000. Finally, SG Americas Securities LLC grew its stake 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 worth $114,000 after purchasing an additional 15,425 shares during the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.

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.