Opaleye Management Inc. Buys 5,000 Shares of Codexis, Inc. (NASDAQ:CDXS) Stock

Codexis, Inc. (NASDAQ:CDXS) major shareholder Opaleye Management Inc. bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was purchased at an average cost of $2.86 per share, for a total transaction of $14,300.00. Following the transaction, the insider now owns 8,520,000 shares in the company, valued at approximately $24,367,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Opaleye Management Inc. also recently made the following trade(s):

• On Monday, September 23rd, Opaleye Management Inc. purchased 45,000 shares of Codexis stock. The shares were acquired at an average cost of $2.94 per share, with a total value of $132,300.00.
• On Friday, September 20th, Opaleye Management Inc. acquired 1,055,000 shares of Codexis stock. The stock was acquired at an average cost of $3.01 per share, for a total transaction of $3,175,550.00.
• On Wednesday, September 18th, Opaleye Management Inc. purchased 61,000 shares of Codexis stock. The stock was acquired at an average price of $3.16 per share, for a total transaction of $192,760.00.

Codexis Trading Up 4.2 %

Shares of NASDAQ:CDXS opened at $3.23 on Friday. Codexis, Inc. has a 52-week low of $1.51 and a 52-week high of $4.91. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.92 and a current ratio of 2.99. The company has a market capitalization of $229.10 million, a P/E ratio of -3.47 and a beta of 2.07. The company has a 50-day simple moving average of $3.07 and a 200 day simple moving average of $3.17.

Codexis (NASDAQ:CDXS) last released its quarterly earnings data on Thursday, August 8th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.06). Codexis had a negative net margin of 125.41% and a negative return on equity of 64.06%. The business had revenue of $7.98 million during the quarter, compared to analyst estimates of $7.64 million. During the same period in the previous year, the business earned ($0.17) earnings per share. Sell-side analysts forecast that Codexis, Inc. will post -0.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CDXS has been the subject of several analyst reports. Benchmark cut Codexis from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Jefferies Financial Group assumed coverage on Codexis in a research report on Monday, June 3rd. They set a “buy” rating and a $5.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $11.00 price objective on shares of Codexis in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.75.

Hedge Funds Weigh In On Codexis

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Algert Global LLC lifted its stake in shares of Codexis by 17.1% during the 2nd quarter. Algert Global LLC now owns 41,556 shares of the biotechnology company’s stock worth $129,000 after buying an additional 6,069 shares during the last quarter. AQR Capital Management LLC lifted its position in Codexis by 82.4% during the second quarter. AQR Capital Management LLC now owns 237,272 shares of the biotechnology company’s stock worth $736,000 after acquiring an additional 107,205 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of Codexis by 113.8% in the second quarter. Squarepoint Ops LLC now owns 74,531 shares of the biotechnology company’s stock valued at $231,000 after purchasing an additional 39,664 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Codexis during the second quarter worth approximately $89,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Codexis by 34.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 340,762 shares of the biotechnology company’s stock worth $1,056,000 after purchasing an additional 87,457 shares during the last quarter. 78.54% of the stock is owned by institutional investors.

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.