Numerai GP LLC cut its holdings in Codexis, Inc. (NASDAQ:CDXS – Free Report) by 61.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,181 shares of the biotechnology company’s stock after selling 64,726 shares during the period. Numerai GP LLC owned 0.06% of Codexis worth $170,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in CDXS. Millennium Management LLC purchased a new position in Codexis in the 2nd quarter worth approximately $9,661,000. Renaissance Technologies LLC lifted its holdings in Codexis by 136.5% in the 1st quarter. Renaissance Technologies LLC now owns 778,100 shares of the biotechnology company’s stock worth $3,221,000 after purchasing an additional 449,100 shares in the last quarter. FMR LLC lifted its holdings in Codexis by 29.3% in the 2nd quarter. FMR LLC now owns 1,789,377 shares of the biotechnology company’s stock worth $18,717,000 after purchasing an additional 405,488 shares in the last quarter. ARK Investment Management LLC lifted its holdings in Codexis by 9.0% in the 1st quarter. ARK Investment Management LLC now owns 4,295,586 shares of the biotechnology company’s stock worth $17,784,000 after purchasing an additional 353,601 shares in the last quarter. Finally, Sei Investments Co. purchased a new position in Codexis in the 2nd quarter worth approximately $3,523,000. 87.94% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
CDXS has been the topic of a number of research reports. Benchmark reaffirmed a “buy” rating and issued a $9.00 price objective on shares of Codexis in a research note on Friday, September 1st. Stephens reaffirmed an “overweight” rating and issued a $6.00 price objective on shares of Codexis in a research note on Friday, July 21st. Stifel Nicolaus reduced their price objective on Codexis from $9.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, August 14th. TD Cowen downgraded Codexis from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $21.00 to $4.00 in a research note on Monday, August 7th. Finally, StockNews.com initiated coverage on Codexis in a research note on Thursday, August 17th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $7.83.
Codexis Stock Performance
NASDAQ CDXS opened at $1.72 on Friday. The company has a market cap of $120.06 million, a P/E ratio of -2.02 and a beta of 1.79. The business’s 50 day moving average price is $2.51 and its 200-day moving average price is $3.20. Codexis, Inc. has a fifty-two week low of $1.58 and a fifty-two week high of $7.96.
Codexis (NASDAQ:CDXS – Get Free Report) last released its earnings results on Thursday, August 3rd. The biotechnology company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.04. The firm had revenue of $21.32 million for the quarter, compared to the consensus estimate of $19.83 million. Codexis had a negative return on equity of 41.33% and a negative net margin of 57.22%. The company’s revenue for the quarter was down 44.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.04) EPS. As a group, equities analysts predict that Codexis, Inc. will post -0.95 EPS for the current year.
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; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides biocatalyst screening and protein engineering services.
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