Assenagon Asset Management S.A. Increases Stock Holdings in Codexis, Inc. $CDXS

Assenagon Asset Management S.A. boosted its stake in Codexis, Inc. (NASDAQ:CDXS) by 142.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 566,547 shares of the biotechnology company’s stock after buying an additional 332,594 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.63% of Codexis worth $923,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CDXS. Royal Bank of Canada lifted its position in shares of Codexis by 24.9% during the first quarter. Royal Bank of Canada now owns 437,126 shares of the biotechnology company’s stock valued at $1,176,000 after purchasing an additional 87,044 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Codexis by 2.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,977,869 shares of the biotechnology company’s stock worth $4,827,000 after buying an additional 52,588 shares during the last quarter. Franklin Resources Inc. grew its position in Codexis by 66.2% during the second quarter. Franklin Resources Inc. now owns 447,526 shares of the biotechnology company’s stock valued at $1,092,000 after buying an additional 178,333 shares during the period. Rhumbline Advisers grew its position in Codexis by 25.9% during the second quarter. Rhumbline Advisers now owns 135,556 shares of the biotechnology company’s stock valued at $331,000 after buying an additional 27,897 shares during the period. Finally, XTX Topco Ltd purchased a new stake in Codexis during the second quarter worth about $116,000. 78.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CDXS has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Codexis in a research report on Wednesday, January 21st. Wall Street Zen upgraded Codexis from a “strong sell” rating to a “hold” rating in a research note on Saturday, March 14th. Stifel Nicolaus set a $5.00 price target on Codexis in a research report on Thursday, March 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Codexis in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Codexis has an average rating of “Hold” and an average target price of $5.00.

Codexis Stock Up 7.2%

Shares of NASDAQ:CDXS opened at $1.63 on Wednesday. The firm has a fifty day moving average price of $1.36 and a two-hundred day moving average price of $1.79. The company has a market cap of $148.12 million, a price-to-earnings ratio of -3.13 and a beta of 2.49. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.82 and a quick ratio of 3.75. Codexis, Inc. has a one year low of $0.96 and a one year high of $3.87.

Codexis (NASDAQ:CDXS) last released its quarterly earnings results on Wednesday, March 11th. The biotechnology company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.10. Codexis had a negative net margin of 62.47% and a negative return on equity of 90.51%. The firm had revenue of $38.92 million for the quarter, compared to analysts’ expectations of $35.83 million. Analysts anticipate that Codexis, Inc. will post -0.77 EPS for the current fiscal year.

Codexis Profile

Codexis, Inc, headquartered in Redwood City, California, is a leading protein engineering company focused on the development of innovative enzyme solutions for pharmaceutical, food and beverage, and specialty chemical applications. The company’s proprietary directed evolution platform, CodeEvolver®, enables the rapid identification and optimization of enzymes with enhanced activity, selectivity and stability. By leveraging this technology, Codexis provides custom biocatalysts designed to improve manufacturing efficiency and reduce environmental impact.

Since its founding in 2002, Codexis has expanded its capabilities from early-stage research to commercial-scale production.