Codexis (NASDAQ:CDXS) Announces Quarterly Earnings Results

Codexis (NASDAQ:CDXS) announced its earnings results on Thursday. The biotechnology company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.07), FiscalAI reports. The company had revenue of $8.60 million for the quarter, compared to analyst estimates of $18.52 million. Codexis had a negative return on equity of 105.83% and a negative net margin of 113.67%.

Codexis Trading Down 5.1%

Shares of NASDAQ:CDXS traded down $0.11 during midday trading on Thursday, reaching $2.04. The company’s stock had a trading volume of 844,944 shares, compared to its average volume of 855,900. The firm has a market capitalization of $184.14 million, a price-to-earnings ratio of -2.46 and a beta of 2.57. The company has a debt-to-equity ratio of 0.71, a quick ratio of 5.70 and a current ratio of 5.82. The firm has a 50 day moving average price of $2.50 and a two-hundred day moving average price of $2.56. Codexis has a fifty-two week low of $1.90 and a fifty-two week high of $6.08.

Analyst Ratings Changes

Several research analysts have commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Codexis in a report on Wednesday, October 8th. Wall Street Zen raised Codexis from a “strong sell” rating to a “hold” rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $11.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wyoming acquired a new position in shares of Codexis in the 2nd quarter valued at about $25,000. Osaic Holdings Inc. increased its position in Codexis by 1,922.9% in the 2nd quarter. Osaic Holdings Inc. now owns 20,634 shares of the biotechnology company’s stock valued at $50,000 after buying an additional 19,614 shares in the last quarter. XTX Topco Ltd bought a new stake in Codexis in the 2nd quarter valued at about $116,000. Invesco Ltd. increased its position in Codexis by 42.4% in the 2nd quarter. Invesco Ltd. now owns 96,078 shares of the biotechnology company’s stock valued at $234,000 after buying an additional 28,631 shares in the last quarter. Finally, 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 valued at $246,000 after buying an additional 6,300 shares in the last quarter. 78.54% of the stock is owned by institutional investors and hedge funds.

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.