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

Perkins Capital Management Inc. lifted its holdings in Codexis, Inc. (NASDAQ:CDXS) by 72.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 529,500 shares of the biotechnology company’s stock after acquiring an additional 221,800 shares during the period. Perkins Capital Management Inc. owned 0.59% of Codexis worth $863,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake in Codexis by 24.9% in the 1st quarter. Royal Bank of Canada now owns 437,126 shares of the biotechnology company’s stock worth $1,176,000 after purchasing an additional 87,044 shares during the period. Geode Capital Management LLC grew its stake in 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 acquiring an additional 52,588 shares in the last quarter. Rhumbline Advisers lifted its stake in Codexis by 25.9% in the 2nd quarter. Rhumbline Advisers now owns 135,556 shares of the biotechnology company’s stock worth $331,000 after purchasing an additional 27,897 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Codexis in the second quarter worth about $116,000. Finally, Invesco Ltd. grew its holdings in Codexis by 42.4% during the 2nd quarter. Invesco Ltd. now owns 96,078 shares of the biotechnology company’s stock valued at $234,000 after buying an additional 28,631 shares in the last quarter. Institutional investors own 78.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on CDXS shares. Stifel Nicolaus set a $5.00 target price on shares of Codexis in a report on Thursday, March 12th. Wall Street Zen cut Codexis from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Codexis in a research note on Thursday, March 12th. Finally, Weiss Ratings raised Codexis from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Codexis presently has a consensus rating of “Hold” and an average target price of $5.00.

Codexis Stock Performance

Codexis stock opened at $2.54 on Wednesday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 5.23 and a current ratio of 5.36. The company has a market capitalization of $230.89 million, a PE ratio of -6.86 and a beta of 2.52. The company has a 50 day moving average price of $2.00 and a 200-day moving average price of $1.77. Codexis, Inc. has a fifty-two week low of $0.96 and a fifty-two week high of $3.87.

Codexis (NASDAQ:CDXS) last issued its earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.01. The business had revenue of $15.25 million during the quarter, compared to analysts’ expectations of $14.53 million. Codexis had a negative return on equity of 68.09% and a negative net margin of 40.97%. As a group, equities analysts forecast that Codexis, Inc. will post -0.4 earnings per share for the current year.

Codexis Company 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.