Codexis, Inc. (NASDAQ:CDXS) Director Sells $146,070.26 in Stock

Codexis, Inc. (NASDAQ:CDXS – Get Rating) Director John J. Nicols sold 35,714 shares of Codexis stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $4.09, for a total transaction of $146,070.26. Following the completion of the transaction, the director now directly owns 783,965 shares of the company’s stock, valued at approximately $3,206,416.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Codexis Trading Down 5.6 %

CDXS opened at $3.89 on Friday. The firm has a market capitalization of $256.55 million, a PE ratio of -7.63 and a beta of 1.64. Codexis, Inc. has a twelve month low of $3.86 and a twelve month high of $22.22. The firm’s 50-day moving average price is $5.55 and its 200 day moving average price is $5.69.

Codexis (NASDAQ:CDXS – Get Rating) last posted its quarterly earnings results on Thursday, February 23rd. The biotechnology company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. The firm had revenue of $30.40 million for the quarter, compared to analyst estimates of $28.92 million. Codexis had a negative net margin of 24.24% and a negative return on equity of 21.78%. Codexis’s quarterly revenue was up 24.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.16) earnings per share. As a group, analysts predict that Codexis, Inc. will post -0.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CDXS. HC Wainwright cut their target price on shares of Codexis from $15.00 to $9.00 in a research note on Monday, February 27th. Piper Sandler boosted their target price on shares of Codexis from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday, January 19th. Finally, StockNews.com began coverage on shares of Codexis in a research note on Thursday. They set a “hold” rating for the company.

Hedge Funds Weigh In On Codexis

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in Codexis by 0.9% during the third quarter. BlackRock Inc. now owns 5,481,593 shares of the biotechnology company’s stock worth $33,220,000 after acquiring an additional 48,625 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Codexis by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 3,632,362 shares of the biotechnology company’s stock valued at $74,899,000 after purchasing an additional 231,872 shares during the last quarter. Nantahala Capital Management LLC boosted its holdings in Codexis by 5.3% in the 1st quarter. Nantahala Capital Management LLC now owns 3,383,049 shares of the biotechnology company’s stock valued at $69,758,000 after purchasing an additional 168,952 shares during the last quarter. Telemark Asset Management LLC boosted its holdings in Codexis by 8.0% in the 3rd quarter. Telemark Asset Management LLC now owns 2,704,500 shares of the biotechnology company’s stock valued at $16,389,000 after purchasing an additional 200,000 shares during the last quarter. Finally, FMR LLC boosted 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 valued at $18,717,000 after purchasing an additional 405,488 shares during the last quarter. 93.41% of the stock is currently owned by institutional investors and hedge funds.

About Codexis

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Codexis, Inc is an enzyme engineering company, which engages in the development and sale of therapeutics. It operates through the Performance Enzymes and Novel Biotherapeutics segments. The Performance Enzymes segment commercializes CodeEvolver protein engineering technology platform and products in the pharmaceuticals market.