Codexis, Inc. (NASDAQ:CDXS – Get Rating) Director John J. Nicols sold 38,500 shares of the company’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $8.62, for a total transaction of $331,870.00. Following the completion of the sale, the director now owns 1,022,679 shares of the company’s stock, valued at approximately $8,815,492.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Codexis Stock Down 4.3 %
CDXS traded down $0.38 during trading hours on Tuesday, hitting $8.54. 701,537 shares of the company’s stock were exchanged, compared to its average volume of 963,785. The stock has a market cap of $559.32 million, a price-to-earnings ratio of -28.83 and a beta of 1.62. Codexis, Inc. has a 1-year low of $6.15 and a 1-year high of $42.01. The stock’s 50-day moving average is $9.34 and its two-hundred day moving average is $13.98.
Codexis (NASDAQ:CDXS – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The biotechnology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.08. The company had revenue of $38.41 million during the quarter, compared to the consensus estimate of $37.86 million. Codexis had a negative net margin of 14.03% and a negative return on equity of 11.63%. The company’s quarterly revenue was up 50.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) EPS. On average, equities research analysts anticipate that Codexis, Inc. will post -0.48 EPS for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the company. Benchmark set a $20.00 price target on Codexis in a report on Tuesday, July 19th. Craig Hallum cut their price target on shares of Codexis from $42.00 to $19.00 in a research note on Friday, July 15th. Piper Sandler lowered their price objective on shares of Codexis from $35.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, July 14th. Cowen cut their price objective on shares of Codexis from $39.00 to $21.00 and set an “outperform” rating on the stock in a research report on Friday, July 15th. Finally, HC Wainwright reduced their target price on shares of Codexis from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Monday, August 8th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.33.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Occudo Quantitative Strategies LP bought a new stake in shares of Codexis during the 2nd quarter worth approximately $883,000. State Street Corp lifted its stake in Codexis by 1.5% in the second quarter. State Street Corp now owns 1,289,627 shares of the biotechnology company’s stock valued at $13,489,000 after acquiring an additional 19,404 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Codexis by 319.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 318,468 shares of the biotechnology company’s stock valued at $3,331,000 after acquiring an additional 242,471 shares during the period. Millennium Management LLC acquired a new position in shares of Codexis during the 2nd quarter worth about $9,661,000. Finally, Sei Investments Co. acquired a new position in shares of Codexis during the 2nd quarter worth about $3,523,000.
About Codexis
Codexis, Inc discovers, develops, and sells enzymes and other proteins. It offers biocatalyst products and services; intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides biocatalyst screening and protein engineering services.