Renaissance Technologies LLC Sells 538,752 Shares of Codexis, Inc. $CDXS

Renaissance Technologies LLC reduced its stake in Codexis, Inc. (NASDAQ:CDXS) by 73.1% in the 1st quarter, Holdings Channel reports. The firm owned 198,733 shares of the biotechnology company’s stock after selling 538,752 shares during the period. Renaissance Technologies LLC’s holdings in Codexis were worth $324,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in CDXS. Victory Capital Management Inc. acquired a new position in Codexis during the third quarter valued at approximately $25,000. Navalign LLC acquired a new stake in shares of Codexis in the fourth quarter worth $25,000. State of Wyoming acquired a new stake in shares of Codexis in the second quarter worth $25,000. CIBC Bancorp USA Inc. bought a new stake in shares of Codexis during the 3rd quarter worth $26,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Codexis by 93.8% during the 3rd 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 period. Institutional investors own 78.54% of the company’s stock.

Codexis Stock Performance

CDXS opened at $1.50 on Wednesday. The stock’s 50 day simple moving average is $2.05 and its 200-day simple moving average is $1.98. The company has a current ratio of 3.06, a quick ratio of 2.99 and a debt-to-equity ratio of 1.03. The stock has a market cap of $164.26 million, a PE ratio of -4.41 and a beta of 2.54. Codexis, Inc. has a 1 year low of $0.96 and a 1 year high of $3.06.

Codexis (NASDAQ:CDXS) last issued its earnings results on Tuesday, August 11th. The biotechnology company reported ($0.13) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $14.91 million during the quarter, compared to analysts’ expectations of $13.82 million. Sell-side analysts forecast that Codexis, Inc. will post -0.37 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CDXS shares. Cantor Fitzgerald restated an “overweight” rating on shares of Codexis in a report on Wednesday, June 17th. Weiss Ratings raised Codexis from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 20th. Piper Sandler decreased their target price on Codexis from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Wall Street Zen lowered Codexis from a “hold” rating to a “sell” rating in a report on Saturday. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Codexis presently has an average rating of “Hold” and an average target price of $6.50.

Codexis Company 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.