Codexis, Inc. (NASDAQ:CDXS) Position Lowered by Fred Alger Management LLC

Fred Alger Management LLC reduced its position in Codexis, Inc. (NASDAQ:CDXS) by 64.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 125,916 shares of the biotechnology company’s stock after selling 223,574 shares during the quarter. Fred Alger Management LLC’s holdings in Codexis were worth $388,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CDXS. FMR LLC increased its holdings in shares of Codexis by 1.2% in the 3rd quarter. FMR LLC now owns 4,497,090 shares of the biotechnology company’s stock valued at $13,851,000 after acquiring an additional 51,822 shares during the last quarter. Intech Investment Management LLC acquired a new position in Codexis in the third quarter worth $66,000. GSA Capital Partners LLP increased its stake in Codexis by 83.5% during the third quarter. GSA Capital Partners LLP now owns 99,629 shares of the biotechnology company’s stock valued at $307,000 after purchasing an additional 45,337 shares during the last quarter. Perkins Capital Management Inc. raised its holdings in shares of Codexis by 2.8% during the third quarter. Perkins Capital Management Inc. now owns 164,100 shares of the biotechnology company’s stock worth $505,000 after purchasing an additional 4,500 shares during the period. Finally, abrdn plc lifted its position in shares of Codexis by 62.5% in the 3rd 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 last quarter. Institutional investors and hedge funds own 78.54% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Opaleye Management Inc. bought 1,055,000 shares of the business’s stock in a transaction on Friday, September 20th. The stock was purchased at an average cost of $3.01 per share, for a total transaction of $3,175,550.00. Following the completion of the transaction, the insider now directly owns 8,390,000 shares of the company’s stock, valued at approximately $25,253,900. This trade represents a 14.38 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders purchased 1,166,000 shares of company stock valued at $3,514,910 over the last 90 days. 2.10% of the stock is currently owned by company insiders.

Codexis Price Performance

NASDAQ CDXS opened at $4.58 on Monday. The company has a 50-day moving average price of $3.56 and a two-hundred day moving average price of $3.29. Codexis, Inc. has a 52 week low of $1.85 and a 52 week high of $4.91. The stock has a market cap of $372.71 million, a price-to-earnings ratio of -5.26 and a beta of 2.07. 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 posted 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). Codexis had a negative net margin of 96.35% and a negative return on equity of 71.56%. The business had revenue of $12.83 million during the quarter, compared to analyst estimates of $11.64 million. During the same quarter in the prior year, the business earned ($0.26) earnings per share. Analysts forecast that Codexis, Inc. will post -0.76 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 price objective on shares of Codexis in a research report on Friday, November 22nd. Benchmark reiterated a “hold” rating on shares of Codexis in a research report on Monday, November 4th.

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.