Codexis (NASDAQ:CDXS) Earns “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Codexis (NASDAQ:CDXS) in a research report released on Friday morning,Benzinga reports. They currently have a $11.00 price objective on the biotechnology company’s stock.

Separately, Benchmark reaffirmed a “hold” rating on shares of Codexis in a report on Monday, November 4th.

Codexis Stock Up 6.5 %

Codexis stock opened at $4.61 on Friday. Codexis has a 52 week low of $1.85 and a 52 week high of $4.91. The stock has a market cap of $375.15 million, a price-to-earnings ratio of -5.30 and a beta of 2.07. The company’s 50-day moving average price is $3.42 and its two-hundred day moving average price is $3.26. The company has a current ratio of 3.21, a quick ratio of 3.15 and a debt-to-equity ratio of 0.39.

Codexis (NASDAQ:CDXS) last announced its earnings results on Thursday, October 31st. The biotechnology company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.04). The firm had revenue of $12.83 million for the quarter, compared to the consensus estimate of $11.64 million. Codexis had a negative return on equity of 71.56% and a negative net margin of 96.35%. During the same period in the previous year, the firm earned ($0.26) EPS. On average, analysts expect that Codexis will post -0.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Opaleye Management Inc. purchased 45,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average price of $2.94 per share, with a total value of $132,300.00. Following the purchase, the insider now owns 8,435,000 shares of the company’s stock, valued at $24,798,900. This trade represents a 0.54 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have purchased 1,166,000 shares of company stock worth $3,514,910 in the last three months. 2.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in Codexis by 23.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,103,442 shares of the biotechnology company’s stock worth $3,399,000 after purchasing an additional 209,207 shares during the period. abrdn plc boosted its position in shares of Codexis by 62.5% in the third quarter. abrdn plc now owns 800,410 shares of the biotechnology company’s stock worth $2,465,000 after buying an additional 307,762 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Codexis by 12.8% during the second quarter. Bank of New York Mellon Corp now owns 284,166 shares of the biotechnology company’s stock valued at $881,000 after buying an additional 32,138 shares in the last quarter. Vanguard Group Inc. raised its position in Codexis by 3.1% during the first quarter. Vanguard Group Inc. now owns 4,258,201 shares of the biotechnology company’s stock valued at $14,861,000 after buying an additional 129,773 shares during the period. Finally, American Century Companies Inc. lifted its stake in Codexis by 18.9% in the 2nd quarter. American Century Companies Inc. now owns 100,734 shares of the biotechnology company’s stock worth $312,000 after acquiring an additional 16,019 shares in the last quarter. 78.54% of the stock is owned by hedge funds and other institutional investors.

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.