Nantahala Capital Management LLC Invests $8.19 Million in Codexis, Inc. $CDXS

Nantahala Capital Management LLC purchased a new position in shares of Codexis, Inc. (NASDAQ:CDXS) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 3,623,613 shares of the biotechnology company’s stock, valued at approximately $8,189,365.

Several other hedge funds also recently made changes to their positions in CDXS. Navalign LLC purchased a new stake in Codexis in the 4th quarter valued at approximately $25,000. Victory Capital Management Inc. acquired a new stake in Codexis in the third quarter valued at $25,000. State of Wyoming acquired a new position in shares of Codexis during the 2nd quarter worth $25,000. CIBC Bancorp USA Inc. acquired a new position in shares of Codexis during the 3rd quarter worth $26,000. Finally, EP Wealth Advisors LLC purchased a new stake in shares of Codexis in the 2nd quarter worth about $35,000. Institutional investors and hedge funds own 78.54% of the company’s stock.

Codexis Stock Performance

NASDAQ CDXS opened at $1.59 on Friday. The company has a quick ratio of 2.99, a current ratio of 3.06 and a debt-to-equity ratio of 1.03. Codexis, Inc. has a fifty-two week low of $0.96 and a fifty-two week high of $2.98. The business has a fifty day moving average of $1.92 and a 200-day moving average of $1.99. The stock has a market cap of $174.12 million, a price-to-earnings ratio of -4.68 and a beta of 2.54.

Codexis (NASDAQ:CDXS) last posted its quarterly earnings data on Tuesday, August 11th. The biotechnology company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. The business had revenue of $14.91 million for the quarter, compared to analyst estimates of $13.82 million. Codexis had a negative return on equity of 74.36% and a negative net margin of 39.55%. As a group, analysts predict that Codexis, Inc. will post -0.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wall Street Zen cut shares of Codexis from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Cantor Fitzgerald restated an “overweight” rating on shares of Codexis in a research report on Wednesday, June 17th. Benchmark reaffirmed a “hold” rating on shares of Codexis in a report on Thursday, August 20th. Weiss Ratings upgraded shares of Codexis from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 20th. Finally, Piper Sandler dropped their price objective on shares of Codexis from $9.00 to $8.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $6.50.

About Codexis

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.