Alison Moore Sells 6,239 Shares of Codexis (NASDAQ:CDXS) Stock

Key Points

• Alison Moore, an insider at Codexis, sold 6,239 shares of stock at an average price of $2.51, reducing her ownership by 3.55%.
• Codexis shares increased by 8.7% to $2.74, with the company showing a market cap of $247.34 million and a negative price-to-earnings ratio of -3.30.
• Codexis reported quarterly earnings of ($0.16) per share, surpassing analyst expectations and generating $15.33 million in revenue.

Codexis, Inc. (NASDAQ:CDXS - Get Free Report) insider Alison Moore sold 6,239 shares of the firm's stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $2.51, for a total transaction of $15,659.89. Following the completion of the sale, the insider directly owned 169,332 shares in the company, valued at $425,023.32. This represents a 3.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Codexis Stock Up 8.7%

Shares of CDXS traded up $0.22 during mid-day trading on Wednesday, reaching $2.74. 599,405 shares of the stock traded hands, compared to its average volume of 872,480. The firm has a market cap of $247.34 million, a price-to-earnings ratio of -3.30 and a beta of 2.50. The stock has a fifty day simple moving average of $2.62 and a 200 day simple moving average of $2.53. Codexis, Inc. has a 12-month low of $1.90 and a 12-month high of $6.08. The company has a quick ratio of 5.70, a current ratio of 5.82 and a debt-to-equity ratio of 0.71.

Codexis (NASDAQ:CDXS - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The biotechnology company reported ($0.16) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.01. The business had revenue of $15.33 million during the quarter, compared to the consensus estimate of $14.18 million. Codexis had a negative net margin of 113.67% and a negative return on equity of 105.83%. Sell-side analysts expect that Codexis, Inc. will post -0.77 EPS for the current fiscal year.

Analyst Ratings Changes

CDXS has been the topic of several recent analyst reports. Wall Street Zen upgraded Codexis from a "strong sell" rating to a "hold" rating in a report on Saturday, August 16th. Weiss Ratings restated a "sell (e+)" rating on shares of Codexis in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Codexis currently has an average rating of "Hold" and a consensus price target of $11.00.

Institutional Investors Weigh In On Codexis

Several large investors have recently made changes to their positions in the stock. State of Wyoming bought a new stake in Codexis in the 2nd quarter valued at $25,000. Integrity Alliance LLC. acquired a new stake in Codexis in the first quarter valued at approximately $30,000. US Bancorp DE boosted its position in shares of Codexis by 11,125.0% during the first quarter. US Bancorp DE now owns 17,960 shares of the biotechnology company's stock valued at $48,000 after buying an additional 17,800 shares during the last quarter. Osaic Holdings Inc. boosted its position in shares of Codexis by 1,922.9% during the second quarter. Osaic Holdings Inc. now owns 20,634 shares of the biotechnology company's stock valued at $50,000 after buying an additional 19,614 shares during the last quarter. Finally, Elmwood Wealth Management Inc. bought a new stake in Codexis during the second quarter worth $53,000. Institutional investors and hedge funds own 78.54% of the company's stock.

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.

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