Perkins Capital Management Inc. Grows Position in Codexis, Inc. (NASDAQ:CDXS)

Perkins Capital Management Inc. increased its holdings in Codexis, Inc. (NASDAQ:CDXS) by 2.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 164,100 shares of the biotechnology company’s stock after acquiring an additional 4,500 shares during the quarter. Perkins Capital Management Inc.’s holdings in Codexis were worth $505,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Kent Lake Capital LLC bought a new position in Codexis in the first quarter worth about $2,197,000. abrdn plc raised its holdings in Codexis by 62.5% in the third quarter. abrdn plc now owns 800,410 shares of the biotechnology company’s stock worth $2,465,000 after purchasing an additional 307,762 shares in the last quarter. Platinum Investment Management Ltd. bought a new position in Codexis in the first quarter worth about $802,000. Assenagon Asset Management S.A. raised its holdings in Codexis by 23.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,103,442 shares of the biotechnology company’s stock worth $3,399,000 after purchasing an additional 209,207 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Codexis by 3.1% in the first quarter. Vanguard Group Inc. now owns 4,258,201 shares of the biotechnology company’s stock worth $14,861,000 after purchasing an additional 129,773 shares in the last quarter. 78.54% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Codexis news, major shareholder Opaleye Management Inc. bought 1,055,000 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were purchased at an average price of $3.01 per share, for a total transaction of $3,175,550.00. Following the transaction, the insider now directly owns 8,390,000 shares of the company’s stock, valued at approximately $25,253,900. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders have purchased 1,166,000 shares of company stock worth $3,514,910. Corporate insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Benchmark restated a “hold” rating on shares of Codexis in a report on Monday. Cantor Fitzgerald restated an “overweight” rating and set a $11.00 price objective on shares of Codexis in a report on Friday, September 20th.

Codexis Stock Performance

CDXS opened at $4.01 on Thursday. Codexis, Inc. has a 52-week low of $1.51 and a 52-week high of $4.91. The company has a quick ratio of 3.15, a current ratio of 3.21 and a debt-to-equity ratio of 0.39. The company has a market cap of $326.33 million, a P/E ratio of -4.61 and a beta of 2.07. The firm’s 50-day moving average price is $3.10 and its 200-day moving average price is $3.17.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.04). Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. The business had revenue of $12.83 million during the quarter, compared to analyst estimates of $11.64 million. During the same quarter last year, the company posted ($0.26) EPS. As a group, equities analysts anticipate that Codexis, Inc. will post -0.75 EPS for the current fiscal year.

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.