Baillie Gifford & Co. Sells 895,002 Shares of Codexis, Inc. (NASDAQ:CDXS)

Baillie Gifford & Co. lessened its position in shares of Codexis, Inc. (NASDAQ:CDXS) by 33.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,813,800 shares of the biotechnology company’s stock after selling 895,002 shares during the period. Baillie Gifford & Co. owned approximately 2.23% of Codexis worth $5,587,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CDXS. Vanguard Group Inc. boosted its stake in Codexis by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 4,258,201 shares of the biotechnology company’s stock valued at $14,861,000 after purchasing an additional 129,773 shares during the period. Opaleye Management Inc. lifted its holdings in shares of Codexis by 2.4% during the first quarter. Opaleye Management Inc. now owns 3,120,000 shares of the biotechnology company’s stock worth $10,889,000 after buying an additional 74,475 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of 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 valued at $3,399,000 after acquiring an additional 209,207 shares during the period. abrdn plc grew its stake in shares of Codexis by 62.5% in the third quarter. abrdn plc now owns 800,410 shares of the biotechnology company’s stock valued at $2,465,000 after acquiring an additional 307,762 shares in the last quarter. Finally, Kent Lake Capital LLC bought a new position in Codexis during the first quarter worth about $2,197,000. Institutional investors and hedge funds own 78.54% of the company’s stock.

Insider Buying and Selling

In other Codexis news, major shareholder Opaleye Management Inc. bought 45,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were purchased at an average price of $2.94 per share, for a total transaction of $132,300.00. Following the completion of the transaction, the insider now directly owns 8,435,000 shares in the company, valued at approximately $24,798,900. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired a total of 1,166,000 shares of company stock worth $3,514,910 in the last ninety days. 2.10% of the stock is owned by insiders.

Codexis Price Performance

CDXS stock opened at $4.04 on Thursday. The company’s 50-day moving average price is $3.22 and its two-hundred day moving average price is $3.22. The firm has a market cap of $328.78 million, a P/E ratio of -4.64 and a beta of 2.07. The company has a quick ratio of 3.15, a current ratio of 3.21 and a debt-to-equity ratio of 0.39. Codexis, Inc. has a 12 month low of $1.72 and a 12 month high of $4.91.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.04). The firm had revenue of $12.83 million for the quarter, compared to analyst estimates of $11.64 million. Codexis had a negative net margin of 96.35% and a negative return on equity of 71.56%. During the same quarter in the prior year, the firm earned ($0.26) earnings per share. On average, analysts anticipate that Codexis, Inc. will post -0.76 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Benchmark reaffirmed a “hold” rating on shares of Codexis in a report on Monday, November 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 price objective on shares of Codexis in a report on Friday, September 20th.

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.