Inspire Investing LLC Increases Stake in Codexis, Inc. $CDXS

Inspire Investing LLC lifted its position in Codexis, Inc. (NASDAQ:CDXS) by 48.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 126,103 shares of the biotechnology company’s stock after purchasing an additional 41,115 shares during the period. Inspire Investing LLC owned about 0.15% of Codexis worth $339,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nuveen LLC purchased a new stake in Codexis during the 1st quarter valued at $3,358,000. Assenagon Asset Management S.A. raised its stake in shares of Codexis by 109.2% during the first quarter. Assenagon Asset Management S.A. now owns 602,288 shares of the biotechnology company’s stock valued at $1,620,000 after acquiring an additional 314,424 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of Codexis by 18.6% during the fourth quarter. Nuveen Asset Management LLC now owns 1,812,345 shares of the biotechnology company’s stock worth $8,645,000 after purchasing an additional 283,760 shares during the period. Prescott Group Capital Management L.L.C. grew its stake in shares of Codexis by 91.5% in the first quarter. Prescott Group Capital Management L.L.C. now owns 568,974 shares of the biotechnology company’s stock worth $1,531,000 after purchasing an additional 271,800 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Codexis by 24.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 1,070,253 shares of the biotechnology company’s stock worth $2,879,000 after purchasing an additional 209,298 shares during the last quarter. 78.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen raised Codexis from a “strong sell” rating to a “hold” rating in a research report on Saturday, August 16th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Codexis Stock Performance

Shares of CDXS opened at $2.35 on Thursday. The company has a 50-day simple moving average of $2.78 and a two-hundred day simple moving average of $2.57. The company has a debt-to-equity ratio of 0.71, a current ratio of 5.82 and a quick ratio of 5.70. The firm has a market capitalization of $212.13 million, a PE ratio of -2.83 and a beta of 2.54. Codexis, Inc. has a one year low of $1.90 and a one year high of $6.08.

Codexis (NASDAQ:CDXS) last announced its earnings results on Wednesday, August 13th. The biotechnology company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.01. Codexis had a negative return on equity of 105.83% and a negative net margin of 113.67%.The firm had revenue of $15.33 million during the quarter, compared to analyst estimates of $14.18 million. On average, analysts anticipate that Codexis, Inc. will post -0.77 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.