Opaleye Management Inc. Purchases 61,000 Shares of Codexis, Inc. (NASDAQ:CDXS) Stock

Codexis, Inc. (NASDAQ:CDXS) major shareholder Opaleye Management Inc. purchased 61,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were acquired at an average cost of $3.16 per share, for a total transaction of $192,760.00. Following the completion of the transaction, the insider now directly owns 7,380,000 shares in the company, valued at $23,320,800. The purchase was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Codexis Stock Down 3.4 %

Shares of CDXS stock opened at $3.10 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 firm’s 50-day moving average is $3.11 and its 200-day moving average is $3.20. The stock has a market cap of $218.73 million, a price-to-earnings ratio of -3.39 and a beta of 2.07. Codexis, Inc. has a 52-week low of $1.45 and a 52-week 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). The firm had revenue of $7.98 million during the quarter, compared to the consensus estimate 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 period in the previous year, the company posted ($0.17) earnings per share. Sell-side analysts predict that Codexis, Inc. will post -0.75 EPS for the current year.

Institutional Investors Weigh In On Codexis

Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers grew its stake in Codexis by 3.8% in the 2nd quarter. Rhumbline Advisers now owns 108,594 shares of the biotechnology company’s stock valued at $337,000 after buying an additional 4,017 shares during the last quarter. Algert Global LLC grew its stake in Codexis by 17.1% in the 2nd quarter. Algert Global LLC now owns 41,556 shares of the biotechnology company’s stock valued at $129,000 after buying an additional 6,069 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in Codexis by 57.4% in the 1st 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 buying an additional 10,395 shares during the last quarter. SG Americas Securities LLC grew its stake in Codexis by 72.6% in the 2nd quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company’s stock valued at $114,000 after buying an additional 15,425 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Codexis by 18.9% in the 2nd quarter. American Century Companies Inc. now owns 100,734 shares of the biotechnology company’s stock valued at $312,000 after buying an additional 16,019 shares during the last quarter. 78.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CDXS has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on shares of Codexis in a research report on Monday, June 3rd. They set a “buy” rating and a $5.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $11.00 price target on shares of Codexis in a research report on Friday. Finally, 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 issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Codexis has an average rating of “Hold” and an average 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.