Perkins Capital Management Inc. Acquires 4,500 Shares of Codexis, Inc. (NASDAQ:CDXS)

Perkins Capital Management Inc. lifted its holdings in Codexis, Inc. (NASDAQ:CDXS) by 2.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 164,100 shares of the biotechnology company’s stock after acquiring an additional 4,500 shares during the quarter. Perkins Capital Management Inc. owned 0.23% of Codexis worth $505,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in Codexis by 23.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,103,442 shares of the biotechnology company’s stock valued at $3,399,000 after purchasing an additional 209,207 shares during the period. Private Advisor Group LLC increased its position in Codexis by 22.1% during the 1st quarter. Private Advisor Group LLC now owns 231,341 shares of the biotechnology company’s stock valued at $807,000 after purchasing an additional 41,855 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Codexis during the 1st quarter valued at $97,000. abrdn plc increased its position in Codexis by 62.5% during the 3rd quarter. abrdn plc now owns 800,410 shares of the biotechnology company’s stock valued at $2,465,000 after purchasing an additional 307,762 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Codexis by 12.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 284,166 shares of the biotechnology company’s stock valued at $881,000 after purchasing an additional 32,138 shares during the period. 78.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CDXS. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $11.00 target price on shares of Codexis in a research report on Friday, September 20th. Benchmark reaffirmed a “hold” rating on shares of Codexis in a research report on Monday.

Insider Activity at Codexis

In related news, major shareholder Opaleye Management Inc. purchased 61,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was bought at an average cost of $3.16 per share, for a total transaction of $192,760.00. Following the completion of the transaction, the insider now directly owns 7,380,000 shares in the company, valued at $23,320,800. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last ninety days, insiders acquired 1,166,000 shares of company stock valued at $3,514,910. 2.10% of the stock is owned by corporate insiders.

Codexis Price Performance

NASDAQ CDXS opened at $4.01 on Thursday. Codexis, Inc. has a 12 month low of $1.51 and a 12 month high of $4.91. The stock has a market cap of $326.33 million, a price-to-earnings ratio of -4.61 and a beta of 2.07. The company’s 50 day moving average is $3.10 and its two-hundred day moving average is $3.17. 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 announced its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $12.83 million for the quarter, compared to analysts’ expectations of $11.64 million. During the same period last year, the business earned ($0.26) earnings per share. As a group, research analysts anticipate that Codexis, Inc. will post -0.75 earnings per share for the current year.

Codexis 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.