Codexis (NASDAQ:CDXS) Announces Quarterly Earnings Results

Key Points

• Codexis reported a quarterly loss of ($0.16) earnings per share, slightly surpassing Wall Street's expectation of ($0.17).
• The company experienced a notable stock increase of 6.6% during trading hours, reaching a share price of $3.05.
• Institutional investors own approximately 78.54% of Codexis, with significant stakes added by major funds like Royal Bank of Canada and Invesco Ltd.

Codexis (NASDAQ:CDXS - Get Free Report) posted its quarterly earnings data on Wednesday. The biotechnology company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.01, Zacks reports. Codexis had a negative net margin of 149.47% and a negative return on equity of 118.47%.

Codexis Trading Up 6.6%

NASDAQ:CDXS traded up $0.19 during trading hours on Wednesday, hitting $3.05. 1,611,396 shares of the stock were exchanged, compared to its average volume of 868,745. The company has a quick ratio of 3.64, a current ratio of 3.72 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $252.69 million, a P/E ratio of -3.08 and a beta of 2.54. The company's 50 day moving average is $2.67 and its two-hundred day moving average is $2.84. Codexis has a twelve month low of $1.90 and a twelve month high of $6.08.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Codexis to a "sell" rating in a research report on Friday, May 16th.

Institutional Trading of Codexis

Hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new stake in Codexis during the 2nd quarter worth $250,000. Royal Bank of Canada increased its holdings in shares of Codexis by 24.9% in the 1st quarter. Royal Bank of Canada now owns 437,126 shares of the biotechnology company's stock valued at $1,176,000 after purchasing an additional 87,044 shares in the last quarter. Geode Capital Management LLC boosted its position 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 worth $4,827,000 after purchasing an additional 52,588 shares in the last quarter. XTX Topco Ltd acquired a new stake in Codexis during the 2nd quarter valued at $116,000. Finally, Invesco Ltd. grew its holdings in shares of Codexis by 42.4% during the second quarter. Invesco Ltd. now owns 96,078 shares of the biotechnology company's stock worth $234,000 after buying an additional 28,631 shares in the last quarter. Institutional investors and hedge funds own 78.54% of the company's stock.

Codexis Company Profile

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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