Opaleye Management Inc. Purchases 61,000 Shares of Codexis, Inc. (NASDAQ:CDXS) Stock

Codexis, Inc. (NASDAQ:CDXS) major shareholder Opaleye Management Inc. bought 61,000 shares of the stock in a transaction on Wednesday, September 18th. The shares were acquired at an average cost of $3.16 per share, with a total value of $192,760.00. Following the acquisition, the insider now directly owns 7,380,000 shares in the company, valued at approximately $23,320,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Codexis Price Performance

Shares of CDXS stock opened at $3.10 on Friday. Codexis, Inc. has a 12-month low of $1.45 and a 12-month high of $4.91. The firm has a market capitalization of $218.73 million, a price-to-earnings ratio of -3.39 and a beta of 2.07. The company has a quick ratio of 2.92, a current ratio of 2.99 and a debt-to-equity ratio of 0.46. The firm has a fifty day moving average of $3.11 and a 200-day moving average of $3.20.

Codexis (NASDAQ:CDXS) last announced its quarterly earnings results on Thursday, August 8th. The biotechnology company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $7.98 million during the quarter, compared to analyst estimates of $7.64 million. During the same period last year, the firm earned ($0.17) EPS. On average, equities research analysts forecast that Codexis, Inc. will post -0.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $11.00 target price on shares of Codexis in a report on Friday. Benchmark lowered shares of Codexis from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Finally, Jefferies Financial Group started coverage on shares of Codexis in a report on Monday, June 3rd. They issued a “buy” rating and a $5.00 price target for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $8.75.

Institutional Investors Weigh In On Codexis

Several institutional investors have recently added to or reduced their stakes in CDXS. Los Angeles Capital Management LLC bought a new stake in Codexis in the 2nd quarter valued at $54,000. Marshall Wace LLP bought a new stake in Codexis in the 2nd quarter valued at $89,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Codexis in the 1st quarter valued at $97,000. State Board of Administration of Florida Retirement System lifted its position in Codexis by 57.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 28,500 shares of the biotechnology company’s stock valued at $99,000 after acquiring an additional 10,395 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in Codexis by 72.6% in the 2nd quarter. SG Americas Securities LLC now owns 36,677 shares of the biotechnology company’s stock valued at $114,000 after acquiring an additional 15,425 shares in the last quarter. 78.54% of the stock is owned by institutional investors.

About Codexis

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.