Perkins Capital Management Inc. Raises Stock Holdings in Codexis, Inc. $CDXS

Perkins Capital Management Inc. raised its stake in Codexis, Inc. (NASDAQ:CDXS) by 72.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 529,500 shares of the biotechnology company’s stock after buying an additional 221,800 shares during the quarter. Perkins Capital Management Inc.’s holdings in Codexis were worth $863,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CDXS. State of Wyoming bought a new stake in shares of Codexis in the 2nd quarter valued at about $25,000. Victory Capital Management Inc. bought a new position in shares of Codexis during the 3rd quarter worth approximately $25,000. CIBC Bancorp USA Inc. purchased a new stake in Codexis during the third quarter valued at approximately $26,000. Crux Wealth Advisors purchased a new stake in Codexis during the third quarter valued at approximately $33,000. Finally, BNP Paribas Financial Markets boosted its stake in Codexis by 93.8% in the third quarter. BNP Paribas Financial Markets now owns 16,608 shares of the biotechnology company’s stock valued at $41,000 after acquiring an additional 8,038 shares in the last quarter. 78.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CDXS has been the subject of several analyst reports. Weiss Ratings upgraded Codexis from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Codexis in a research note on Thursday, March 12th. Wall Street Zen downgraded Codexis from a “buy” rating to a “hold” rating in a report on Sunday, May 3rd. Finally, Stifel Nicolaus set a $5.00 price objective on shares of Codexis in a report on Thursday, March 12th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $5.00.

Codexis Price Performance

Shares of NASDAQ CDXS opened at $2.54 on Wednesday. Codexis, Inc. has a 52 week low of $0.96 and a 52 week high of $3.87. The business’s 50 day moving average price is $2.00 and its 200 day moving average price is $1.77. The company has a quick ratio of 5.23, a current ratio of 5.36 and a debt-to-equity ratio of 0.94. The firm has a market cap of $230.89 million, a P/E ratio of -6.86 and a beta of 2.52.

Codexis (NASDAQ:CDXS) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.01. The business had revenue of $15.25 million for the quarter, compared to the consensus estimate of $14.53 million. Codexis had a negative net margin of 40.97% and a negative return on equity of 68.09%. On average, sell-side analysts expect that Codexis, Inc. will post -0.4 earnings per share for the current year.

Codexis 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.