Man Group plc Takes Position in Codexis, Inc. $CDXS

Man Group plc acquired a new position in Codexis, Inc. (NASDAQ:CDXS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 565,593 shares of the biotechnology company’s stock, valued at approximately $1,278,000.

Several other large investors have also made changes to their positions in CDXS. Bank of New York Mellon Corp boosted its stake in Codexis by 2.4% during the 1st quarter. Bank of New York Mellon Corp now owns 209,645 shares of the biotechnology company’s stock valued at $342,000 after purchasing an additional 4,896 shares during the period. Krilogy Financial LLC increased its position in Codexis by 20.5% in the 1st quarter. Krilogy Financial LLC now owns 36,257 shares of the biotechnology company’s stock worth $59,000 after buying an additional 6,156 shares during the period. Bridgeway Capital Management LLC increased its position in Codexis by 6.7% in the 2nd quarter. Bridgeway Capital Management LLC now owns 100,908 shares of the biotechnology company’s stock worth $246,000 after buying an additional 6,300 shares during the period. Brevan Howard Capital Management LP lifted its holdings in shares of Codexis by 16.0% during the third quarter. Brevan Howard Capital Management LP now owns 48,734 shares of the biotechnology company’s stock worth $119,000 after buying an additional 6,705 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Codexis by 93.8% during the third quarter. BNP Paribas Financial Markets now owns 16,608 shares of the biotechnology company’s stock worth $41,000 after buying an additional 8,038 shares during the last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.

Codexis Stock Performance

NASDAQ:CDXS opened at $1.48 on Thursday. Codexis, Inc. has a 12-month low of $0.96 and a 12-month high of $2.98. The company has a quick ratio of 2.99, a current ratio of 3.06 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $161.53 million, a PE ratio of -4.34 and a beta of 2.52. The firm has a 50-day moving average price of $1.87 and a 200 day moving average price of $2.01.

Codexis (NASDAQ:CDXS) last released its quarterly earnings data on Tuesday, August 11th. The biotechnology company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. Codexis had a negative return on equity of 74.36% and a negative net margin of 39.55%.The company had revenue of $14.91 million for the quarter, compared to the consensus estimate of $13.82 million. Research analysts anticipate that Codexis, Inc. will post -0.37 earnings per share for the current fiscal year.

Analyst Ratings Changes

CDXS has been the topic of several research analyst reports. Piper Sandler lowered their price objective on shares of Codexis from $9.00 to $8.00 and set an “overweight” rating on the stock in a research note on Monday, August 17th. Weiss Ratings upgraded shares of Codexis from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, July 20th. Benchmark reissued a “hold” rating on shares of Codexis in a report on Thursday, August 20th. Wall Street Zen lowered shares of Codexis from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Codexis in a report on Wednesday, June 17th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $6.50.

About Codexis

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.