abrdn plc Purchases New Shares in Codexis, Inc. (NASDAQ:CDXS)

abrdn plc acquired a new position in Codexis, Inc. (NASDAQ:CDXS) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 160,581 shares of the biotechnology company’s stock, valued at approximately $490,000. abrdn plc owned approximately 0.23% of Codexis as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in CDXS. Commonwealth Equity Services LLC bought a new position in shares of Codexis in the third quarter valued at about $42,000. Perkins Capital Management Inc. acquired a new position in shares of Codexis during the third quarter worth approximately $43,000. SG Americas Securities LLC bought a new stake in shares of Codexis during the third quarter valued at approximately $50,000. Public Employees Retirement System of Ohio bought a new position in Codexis in the 3rd quarter worth approximately $70,000. Finally, Olympiad Research LP acquired a new position in Codexis during the 3rd quarter worth $100,000. Institutional investors own 78.54% of the company’s stock.

Analyst Upgrades and Downgrades

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

Codexis Stock Down 4.6 %

NASDAQ:CDXS opened at $2.91 on Wednesday. The stock’s fifty day simple moving average is $3.30 and its 200-day simple moving average is $2.74. The firm has a market capitalization of $205.33 million, a P/E ratio of -2.62 and a beta of 2.01. Codexis, Inc. has a 12-month low of $1.45 and a 12-month high of $4.91.

Codexis (NASDAQ:CDXS) last issued its earnings results on Wednesday, February 28th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.18. The firm had revenue of $26.56 million for the quarter, compared to analysts’ expectations of $24.73 million. Codexis had a negative return on equity of 47.58% and a negative net margin of 108.69%. As a group, equities research analysts expect that Codexis, Inc. will post -0.6 earnings per share for the current year.

Codexis 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.