Federated Hermes Inc. Sells 57,601 Shares of Codexis, Inc. (NASDAQ:CDXS)

Federated Hermes Inc. lessened its stake in shares of Codexis, Inc. (NASDAQ:CDXS) by 4.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,340,430 shares of the biotechnology company’s stock after selling 57,601 shares during the quarter. Federated Hermes Inc. owned about 1.92% of Codexis worth $4,088,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GSA Capital Partners LLP purchased a new position in Codexis during the third quarter valued at approximately $786,000. Assenagon Asset Management S.A. increased its holdings in shares of Codexis by 156.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,753,443 shares of the biotechnology company’s stock worth $3,314,000 after purchasing an additional 1,071,002 shares during the period. FMR LLC increased its holdings in shares of Codexis by 153.7% in the third quarter. FMR LLC now owns 4,335,580 shares of the biotechnology company’s stock worth $8,194,000 after purchasing an additional 2,626,400 shares during the period. Algert Global LLC raised its position in shares of Codexis by 8.9% in the third quarter. Algert Global LLC now owns 107,080 shares of the biotechnology company’s stock worth $202,000 after buying an additional 8,720 shares in the last quarter. Finally, Barclays PLC boosted its stake in Codexis by 262.6% during the third quarter. Barclays PLC now owns 155,055 shares of the biotechnology company’s stock valued at $294,000 after buying an additional 112,289 shares during the period. 78.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on CDXS. StockNews.com raised Codexis to a “sell” rating in a report on Tuesday, March 5th. Benchmark raised shares of Codexis from a “hold” rating to a “buy” rating and set a $9.00 target price on the stock in a research note on Thursday, February 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.80.

Codexis Trading Up 0.4 %

Shares of NASDAQ CDXS opened at $2.66 on Friday. The stock’s 50-day moving average is $3.30 and its 200 day moving average is $2.73. The stock has a market cap of $187.01 million, a price-to-earnings ratio of -2.40 and a beta of 2.01. Codexis, Inc. has a 1-year low of $1.45 and a 1-year high of $4.91.

Codexis (NASDAQ:CDXS) last posted its quarterly earnings results on Wednesday, February 28th. The biotechnology company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.16) by $0.18. Codexis had a negative net margin of 108.69% and a negative return on equity of 47.58%. The firm had revenue of $26.56 million for the quarter, compared to the consensus estimate of $24.73 million. On average, analysts forecast that Codexis, Inc. will post -0.6 EPS for the current fiscal year.

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.