Prescott Group Capital Management L.L.C. Acquires 1,932,814 Shares of Codexis, Inc. $CDXS

Prescott Group Capital Management L.L.C. raised its position in Codexis, Inc. (NASDAQ:CDXS) by 304.1% in the 4th quarter, Holdings Channel reports. The firm owned 2,568,359 shares of the biotechnology company’s stock after buying an additional 1,932,814 shares during the period. Prescott Group Capital Management L.L.C.’s holdings in Codexis were worth $4,186,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Opaleye Management Inc. increased its stake in Codexis by 32.6% in the second quarter. Opaleye Management Inc. now owns 12,600,000 shares of the biotechnology company’s stock valued at $30,744,000 after purchasing an additional 3,100,000 shares in the last quarter. Aberdeen Group plc increased its stake in Codexis by 94.7% in the fourth quarter. Aberdeen Group plc now owns 7,966,498 shares of the biotechnology company’s stock valued at $12,985,000 after purchasing an additional 3,874,436 shares in the last quarter. Vanguard Group Inc. increased its stake in Codexis by 1.8% in the third quarter. Vanguard Group Inc. now owns 4,669,815 shares of the biotechnology company’s stock valued at $11,394,000 after purchasing an additional 80,602 shares in the last quarter. Millennium Management LLC increased its stake in Codexis by 3,376.5% in the third quarter. Millennium Management LLC now owns 4,067,559 shares of the biotechnology company’s stock valued at $9,925,000 after purchasing an additional 3,950,557 shares in the last quarter. Finally, Nantahala Capital Management LLC increased its stake in Codexis by 42.4% in the second quarter. Nantahala Capital Management LLC now owns 4,030,619 shares of the biotechnology company’s stock valued at $9,835,000 after purchasing an additional 1,200,000 shares in the last quarter. Institutional investors own 78.54% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Stifel Nicolaus set a $5.00 target price on shares of Codexis in a research note on Thursday, March 12th. Weiss Ratings raised shares of Codexis from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, May 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Codexis in a research note on Thursday, March 12th. Finally, Wall Street Zen downgraded shares of Codexis from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.00.

Codexis Stock Performance

Shares of CDXS stock opened at $2.58 on Thursday. The stock has a market cap of $234.51 million, a P/E ratio of -6.97 and a beta of 2.52. The company has a debt-to-equity ratio of 0.94, a current ratio of 5.36 and a quick ratio of 5.23. The company has a fifty day moving average price of $2.16 and a two-hundred day moving average price of $1.77. Codexis, Inc. has a one year low of $0.96 and a one year high of $3.87.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings results on Thursday, May 7th. The biotechnology company reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.01. The firm had revenue of $15.25 million during the quarter, compared to analysts’ expectations of $14.53 million. Codexis had a negative net margin of 40.97% and a negative return on equity of 68.09%. As a group, equities analysts predict that Codexis, Inc. will post -0.39 EPS 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.