Algert Global LLC Purchases 9,472 Shares of Codexis, Inc. (NASDAQ:CDXS)

Algert Global LLC boosted its holdings in Codexis, Inc. (NASDAQ:CDXS) by 33.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,810 shares of the biotechnology company’s stock after buying an additional 9,472 shares during the quarter. Algert Global LLC owned 0.06% of Codexis worth $857,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CDXS. ARK Investment Management LLC grew its holdings in Codexis by 6.3% during the second quarter. ARK Investment Management LLC now owns 6,675,879 shares of the biotechnology company’s stock valued at $151,275,000 after purchasing an additional 394,262 shares during the period. Baillie Gifford & Co. increased its position in Codexis by 12.2% in the second quarter. Baillie Gifford & Co. now owns 6,655,575 shares of the biotechnology company’s stock worth $150,815,000 after purchasing an additional 725,024 shares during the last quarter. BlackRock Inc. raised its stake in Codexis by 3.3% during the second quarter. BlackRock Inc. now owns 5,294,301 shares of the biotechnology company’s stock valued at $119,971,000 after purchasing an additional 170,085 shares in the last quarter. Vanguard Group Inc. lifted its position in Codexis by 0.4% during the second quarter. Vanguard Group Inc. now owns 3,184,936 shares of the biotechnology company’s stock valued at $72,171,000 after purchasing an additional 13,120 shares during the last quarter. Finally, William Blair Investment Management LLC increased its holdings in shares of Codexis by 9.4% in the 1st quarter. William Blair Investment Management LLC now owns 2,353,106 shares of the biotechnology company’s stock worth $53,863,000 after buying an additional 202,257 shares during the last quarter. 97.71% of the stock is owned by institutional investors and hedge funds.

NASDAQ:CDXS traded down $3.59 during midday trading on Thursday, hitting $26.59. The company’s stock had a trading volume of 63,798 shares, compared to its average volume of 550,361. Codexis, Inc. has a fifty-two week low of $12.79 and a fifty-two week high of $32.42. The firm has a market cap of $1.72 billion, a P/E ratio of -75.81 and a beta of 1.29. The firm’s 50 day moving average is $25.89 and its 200-day moving average is $23.06.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings data on Thursday, August 5th. The biotechnology company reported ($0.07) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.10. The business had revenue of $25.45 million during the quarter, compared to analysts’ expectations of $18.04 million. Codexis had a negative return on equity of 15.90% and a negative net margin of 28.16%. On average, sell-side analysts anticipate that Codexis, Inc. will post -0.4 earnings per share for the current fiscal year.

CDXS has been the topic of several analyst reports. Craig Hallum reissued a “buy” rating and set a $30.00 target price on shares of Codexis in a research report on Friday, October 1st. HC Wainwright increased their price objective on shares of Codexis from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, August 6th. Stifel Nicolaus reiterated a “buy” rating and issued a $30.00 price target on shares of Codexis in a report on Friday, June 18th. TheStreet upgraded Codexis from a “d+” rating to a “c” rating in a research note on Friday, August 13th. Finally, Piper Sandler upped their price target on shares of Codexis from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Friday, August 6th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $30.17.

Codexis Company Profile

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.

Further Reading: Strike Price

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Institutional Ownership by Quarter for Codexis (NASDAQ:CDXS)

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