White Pine Capital LLC Trims Stock Position in Codexis, Inc. $CDXS

White Pine Capital LLC lessened its holdings in Codexis, Inc. (NASDAQ:CDXS) by 29.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 137,749 shares of the biotechnology company’s stock after selling 57,332 shares during the quarter. White Pine Capital LLC’s holdings in Codexis were worth $336,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Telemark Asset Management LLC increased its stake in Codexis by 33.3% in the second quarter. Telemark Asset Management LLC now owns 4,000,000 shares of the biotechnology company’s stock valued at $9,760,000 after acquiring an additional 1,000,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Codexis by 2.7% during the second quarter. Geode Capital Management LLC now owns 1,977,869 shares of the biotechnology company’s stock valued at $4,827,000 after purchasing an additional 52,588 shares during the period. Prescott Group Capital Management L.L.C. grew its holdings in Codexis by 23.1% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 700,591 shares of the biotechnology company’s stock worth $1,709,000 after acquiring an additional 131,617 shares during the last quarter. Pier Capital LLC grew its stake in shares of Codexis by 14.7% in the second quarter. Pier Capital LLC now owns 1,915,160 shares of the biotechnology company’s stock worth $4,673,000 after purchasing an additional 245,956 shares during the last quarter. Finally, Elmwood Wealth Management Inc. purchased a new position in shares of Codexis during the second quarter valued at approximately $53,000. Hedge funds and other institutional investors own 78.54% of the company’s stock.

Codexis Stock Down 1.9%

Shares of CDXS stock opened at $1.54 on Friday. Codexis, Inc. has a 12 month low of $1.54 and a 12 month high of $6.08. The company has a 50 day simple moving average of $2.32 and a two-hundred day simple moving average of $2.51. The stock has a market cap of $139.10 million, a P/E ratio of -1.86 and a beta of 2.57. The company has a current ratio of 5.82, a quick ratio of 5.70 and a debt-to-equity ratio of 0.71.

Codexis (NASDAQ:CDXS) last released its earnings results on Thursday, November 6th. The biotechnology company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.07). Codexis had a negative net margin of 113.67% and a negative return on equity of 105.83%. The company had revenue of $8.60 million for the quarter, compared to analysts’ expectations of $18.52 million. On average, research analysts expect that Codexis, Inc. will post -0.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CDXS shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Codexis in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Codexis from a “hold” rating to a “strong sell” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

About Codexis

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.